Smiling Faces Today For These Shareholders…
Stocks are lower after a
surprise move from China,
which
raised rates for the first time in nine years. Basic
materials are weaker on the news. Copper producer Phelps Dodge
(
PD |
Quote |
Chart |
News |
PowerRating)
beat, reporting 2.95 vs. a 2.71 estimate, but the stock is lower, as is aluminum
producer Alcan
(
AA |
Quote |
Chart |
News |
PowerRating), down
Several large companies reported today,
including:
Dow Chemical
(
DOW |
Quote |
Chart |
News |
PowerRating), which reported 0.65, beating by 0.02; earnings rose
86% year/year. Gillette
(
G |
Quote |
Chart |
News |
PowerRating), which beat by 0.04; Q43 profits rose 14%.
ExxonMobil
(
XOM |
Quote |
Chart |
News |
PowerRating), which beat by 0.09.
Jobless claims for the week rose by 20,000 to
530,000, higher because of hurricane related claims. The 4-week moving average
fell by 5,500 to 343,2550.
Lots of IPO action today, including:
Dreamworks Animation (DWA) began trading today. Priced at $28, it opened
at $39.50 and is now trading at 38.00. Net income in the first 6 months was $121
million.
eLong
(
LONG |
Quote |
Chart |
News |
PowerRating) is a Chinese online
travel company. Priced at $13.50 (only 4.6 million shares), the stock is trading
at 15.71. Competitor Ctrip.com
(
CTRP |
Quote |
Chart |
News |
PowerRating) has traded up over 140% from
its offering price.
Calamos Â
(
CLMS |
Quote |
Chart |
News |
PowerRating) was priced at
$18; it is trading at 19.14.
Fox Hollow
(
FOXH |
Quote |
Chart |
News |
PowerRating) medical devices
$14, currently at 20.95.
| Dow | -5.45 | 9996.21 |
| S&P 500 | -0.07 | 1125.21 |
| Nasdaq | -3.63 | 1966.47 |
Strong sectors are: Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) +2.09%,
Insurance
(
IUX.X |
Quote |
Chart |
News |
PowerRating) +1.02%, Gold
(
XAU.X |
Quote |
Chart |
News |
PowerRating) +0.94%.
Weak sectors are:Â Internet
(
GIN.X |
Quote |
Chart |
News |
PowerRating) -2.99%,
Chemicals
(
CEX.X |
Quote |
Chart |
News |
PowerRating) -1.28%.
The dollar is -0.37 at
85.07
Gold is +3.20 at 426.40
Crude Oil is -0.06 at 52.40
932 million on the Nasdaq.
Market breadth is negative.
| NYSE | Issues | |
| Advancing | 1330 | Up Vol 325 |
| Declining | 1734 | Down Vol 378 |
| Ratio | 1.30 | 1.16 |
| Nasdaq |
||
| Advancing | 1134 | Up Vol 437 |
| Declining | 1756 | Down Vol 441 |
| Ratio | 1.54 | 1.00 |
Stocks in the News
JetBlue
(
JBLU |
Quote |
Chart |
News |
PowerRating) Q3 fell 71% and the company missed lowered
estimates.
Ask Jeeves
(
ASKJ |
Quote |
Chart |
News |
PowerRating) reported pro-forma earnings of 0.25; the stock
traded lower.
LSI Logic
(
LSI |
Quote |
Chart |
News |
PowerRating) reported a wider loss and will cut 510 workers
(11%).
Aetna
(
AET |
Quote |
Chart |
News |
PowerRating) beat by 0.02 and guided higher.
Imclone
(
AMCL |
Quote |
Chart |
News |
PowerRating) reported its third quarterly profit and beat the
street. The company reported 0.45 vs. 0.32.
Brice Wightman