Stocks Decline, Erase Tuesday’s Gains

• November 15, 2007
• TradingMarkets Editors

Stocks surrendered all of this week’s gains as more credit related losses were disclosed, lackluster earnings, and mixed economic data combined to provide a gloomy outlook.

Barclays
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PowerRating) announced a $2.7 billion write-down, stemming from sub-prime and other credit related losses.

Applied Materials
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PowerRating) lowered guidance for the first quarter of 2008 (read more).

J.C. Penney
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PowerRating) reported a 9% drop in Q3 profit and slashed its forecast for Q4 (read more).

Tyco
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PowerRating) adjusted earnings and revenues beat estimates for Q4 (read more).

NovaStar Financial
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PowerRating) hit an all-time low after reporting a loss of $598 million in Q3 (read more).

Market Snapshot

Dow -120.96 13110.05 NASDAQ -25.81 2618.51 S&P 500 -19.43 1451.15   NYSE NASDAQ Volume 1,470,358,380 2,322,728,916 Up Volume 279,186,830 591,627,020 Down Volume 1,172,314,850 1,708,351,653 Advances 717 820 Declines 2554 2114 New Highs 20 29 New Lows 299 205

Strongest/Weakest Industry Groups

Strongest Industries % Change Weakest Industries % Change Long Distance Carriers +6.46% Non-metallic Mineral Mining -7.34% Computer Based Systems +3.08% Gold -5.87% Auto Dealerships +1.64% Silver -4.65%

Economic News

CPI (Oct): Actual 0.3%, Consensus 0.3% Initial Claims (11/10): Actual 339K, Consensus 325K