Stocks Advance Mid-Session
Stocks are higher on speculation that the Fed may be
finished raising rates in Katrina’s aftermath. McDonald’s
(
MCD |
Quote |
Chart |
News |
PowerRating)
is helping the Dow–the restaurant’s new chicken sandwich helped propel August
sales growth up 3.4%. Oil service and homebuilding stocks are strong.
Texas Instruments
(
TXN |
Quote |
Chart |
News |
PowerRating) raised guidance and now sees Q3 EPS of 0.36 –
0.38. (full
story)
Intel
(
INTC |
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News |
PowerRating) said it expects to see year-to-year growth in double
digits and sees gross margins in Q3 to be about 60%.
The FDA recommended that Pfizer’s
(
PFE |
Quote |
Chart |
News |
PowerRating) inhaled insulin Exubera
be approved.
Strong Sectors are: Gold
(
XAU |
Quote |
Chart |
News |
PowerRating)
+2.31%
Oil
(
OIX |
Quote |
Chart |
News |
PowerRating) +2.10%
Oil Services
(
OSX |
Quote |
Chart |
News |
PowerRating)
+2.10%
Weak sectors are: Airlines
(
XAL |
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Chart |
News |
PowerRating)
-1.36%
| Dow |
+68.94 | 10,664.67 |
| Nasdaq |
+7.33 | 2173.36 |
| S&P 500 |
+8.15 | 1239.82 |
Stocks in the news:
Yellow Roadway
(
YELL |
Quote |
Chart |
News |
PowerRating) lowered its Q3 guidance, saying Katrina would
knock off about 0.05 on Q3 earnings. (full
story)
Biovail
(
BVF |
Quote |
Chart |
News |
PowerRating) received FDA approval
for its pain medication TramadolER.
Martek Bioscience
(
MASTK |
Quote |
Chart |
News |
PowerRating) beat by
0.03. (full
story) First Albany downgraded the stock to Neutral from Buy.
Citigroup downgraded Biogen Idec
(
BIIB |
Quote |
Chart |
News |
PowerRating)
to Hold from Buy, and upgraded Sepracor
(
SEPR |
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Chart |
News |
PowerRating) to a Buy with a $70
price target.
Brice Wightman