Oracle Wins! Plus, Taser Sees Opportunities In 2 Markets
Stocks
were
mixed on Thursday as higher oil offset a rosy forecast from Nokia
(
NOK |
Quote |
Chart |
News |
PowerRating), which raised guidance for Q3.
NOK shares rose 7%.
The Semiconductor Index had the biggest one-day gain since October of
2003, up over 5%..
The Labor Department reported the steepest weekly decline in first
time unemployment claims since December 2001. Claims fell 44,000 to 319,000 for
the week of September 4. The 4-week moving average is now 339,250 and has been
in the 330,000 to 340,000 range for months.
Home Depot
(
HD |
Quote |
Chart |
News |
PowerRating) will open a store in
lower Manhattan and will be more high end than other locations, sporting a
doorman and concierge, but no parking lot.
New Yorkers pay the highest state and locals
taxes in the nation; Tennessee pays the least. This from a new study by the
Massachusetts Taxpayers Foundation. Rounding out the top ten are: 2. Maine; 3.
Wyoming; 4. Hawaii, 5.Wisconsin; 6. Rhode Island; 7. Minnesota; 8. West
Virginia; 9. New Mexico, and 10. Louisiana.
After the close, Vishay
(
VSH |
Quote |
Chart |
News |
PowerRating) guided
lower for Q3; Atmel
(
ATML |
Quote |
Chart |
News |
PowerRating) guided Q3 revenues lower; Take Two
(
TTWO |
Quote |
Chart |
News |
PowerRating) missed by 0.02. At a Morgan Keegan conference, Taser
(
TAR |
Quote |
Chart |
News |
PowerRating)
said they were comfortable with their Q3 guidance and said that private security
an consumer represented two major untapped markets. Oracle
(
ORCL |
Quote |
Chart |
News |
PowerRating)
said that it won a lawsuit in which the Department of Justice sought to block
the proposed Peoplesoft acquisition.
| Dow | -24.26 | 10289.10 |
| S&P 500 | +2.11 | 1118.36 |
| Nasdaq | +19.01 | 1869.65 |
Strong today were: Semis
(
SOX.X |
Quote |
Chart |
News |
PowerRating) +5.37%,
Computer Technology
(
XCI.X |
Quote |
Chart |
News |
PowerRating)
+1.60%.
Weak were: REITs
(
RMS.X |
Quote |
Chart |
News |
PowerRating) -1.73%, Internet
(
RLX.X |
Quote |
Chart |
News |
PowerRating)
-0.96%, Pharmaceuticals
(
DRG.X |
Quote |
Chart |
News |
PowerRating) -0.78%.
10-year Notes were -055 at 113 080
The dollar
was +0.03 at 88.80
Gold was -1.00 at 398.70
Crude Oil was +1.33 at
44.10
Volume was 1.37 billion on
the NYSE and 1.67 billion on the Nasdaq.
Market breadth is positive.
| NYSE | Issues | |
| Advancing | 2004 | Up Vol 844 |
| Declining | 1296 | Down Vol 510 |
| Ratio | 1.54 | 1.65 |
| Nasdaq |
||
| Advancing | 1994 | Up Vol 1299 |
| Declining | 1089 | Down Vol 313 |
| Ratio | 1.83 | 4.15 |
Stocks in the News
Texas Instruments
(
TXN |
Quote |
Chart |
News |
PowerRating) guided revenue lower but will meet its
earnings estimates.
Apple Computer’s
(
AAPL |
Quote |
Chart |
News |
PowerRating) rating was cut at Bear Stearns.
Charlotte Russe
(
CHIC |
Quote |
Chart |
News |
PowerRating) cut its profit and sales forecasts.
Amgen
(
AMGN |
Quote |
Chart |
News |
PowerRating) was cut to Hold at UBS
Warburg.
Priceline
(
PCLN |
Quote |
Chart |
News |
PowerRating) reported a wider than
expected loss and will lay off 15% of its workforce.
Boeing
(
BA |
Quote |
Chart |
News |
PowerRating) received a contract to build 3
satellites for Direct TV.
Brice Wightman