Stocks Close Mixed
Stocks were range bound on
Wednesday, closing mixed after oil prices rose above $66.
Crude jumped after oil inventories fell more than
expected, by 2.4 million barrels. Gasoline inventories were better than expected
at 4.4 million barrels; the expectation was for a gain of 2.7 million barrels.
After the close, Research in Motion
(
RIMM |
Quote |
Chart |
News |
PowerRating)
beat on revenues and guided Q4 higher. The stock traded lower after hours.
Red Hat
(
RHAT |
Quote |
Chart |
News |
PowerRating) beat by 0.02.
Kodak
(
EK |
Quote |
Chart |
News |
PowerRating) said that operating earnings in
its digital business won’t meet previous projections. Digital revenues, however,
should come in higher than the 36% target, the company said.
Daimler Chrysler
(
DCX |
Quote |
Chart |
News |
PowerRating) will cut 8,000 jobs at its Mercedes unit.
General Motors
(
GM |
Quote |
Chart |
News |
PowerRating) tentatively agreed to a three-year contract
with the Canadian Auto Workers, avoiding a strike.
Strong Sectors were:
Networkers
(
NWX |
Quote |
Chart |
News |
PowerRating)
+2.17% Gold
(
XAU |
Quote |
Chart |
News |
PowerRating) +2.16%
Natural Gas
(
XNG |
Quote |
Chart |
News |
PowerRating)
+1.49%
Weak sectors were:
Retail
(
RLX |
Quote |
Chart |
News |
PowerRating) -1.31% Banks
(
BKXI |
Quote |
Chart |
News |
PowerRating)
-0.66%
|
|
+16.88 | 10,473.09 |
| -1.02 | 2115.40 | |
| +1.23 | 1216.89 |
Stocks in the news:
McCormick
(
MKC |
Quote |
Chart |
News |
PowerRating) beat by a penny and reaffirmed the $1.58 – $1.62
consensus.
MedImmune
(
MEDI |
Quote |
Chart |
News |
PowerRating) was raised to overweight at Lehman.
Goldman Sachs said that the gaming stocks are oversold. Stocks include:
Las Vegas Sands
(
LVS |
Quote |
Chart |
News |
PowerRating), Harrah’s
(
HET |
Quote |
Chart |
News |
PowerRating) and Wynn’s
(
WYNN |
Quote |
Chart |
News |
PowerRating).
Affymetrix
(
AFFX |
Quote |
Chart |
News |
PowerRating) warned for Q3.
Novellus
(
NVLS |
Quote |
Chart |
News |
PowerRating)
was cut to underweight from neutral at J.P. Morgan.
The Wall Street Journal reports that Celgene’s
(
CELG |
Quote |
Chart |
News |
PowerRating)
Revlimid trial was halted over concerns about blood clots.
Brice Wightman