Stocks gain, Big Blue beats estimates
Stocks rose Monday, with
strong performances by GM and Altria leading the blue chips.
General Motors
(
GM |
Quote |
Chart |
News |
PowerRating) missed by 1.11 but the
stocks rallied on the news that the company came to agreement with its unions to
cut healthcare costs. The Supreme Court rejected a government appeal of a $280
billion case against the tobacco industry. Altria
(
MO |
Quote |
Chart |
News |
PowerRating) rose $4.30 to
close at $74.96.  Â
Crude oil rose on news of a new hurricane,
closing at $64.36, +1.73.Â
Citigroup
(
C |
Quote |
Chart |
News |
PowerRating) reported 1.38, beating by
0.39.
Boeing
(
BA |
Quote |
Chart |
News |
PowerRating) an order for 20 787 jets
from International Lease Finance.
Mattel (MAT)
missed by 0.06.
Hasbro
(
HAS |
Quote |
Chart |
News |
PowerRating) missed by 0.04 and missed
on revenues.
After the close, IBM
(
IBM |
Quote |
Chart |
News |
PowerRating) reported
$1.26, beating by 0.13. Net income was also strong, but revenues were light at
$21.53 billion.
Rambus
(
RMBS |
Quote |
Chart |
News |
PowerRating) beat by 0.02, ex-items,
with quarterly earnings rising almost 40%; revenues also beat estimates.
Novellus
(
NVLS |
Quote |
Chart |
News |
PowerRating) was in-line; margins
were slightly lower than expected. Net income fell 64%.
Chiron
(
CHIR |
Quote |
Chart |
News |
PowerRating) guided lower, saying it
will deliver fewer doses of Fluviron this year than last year.
Strong sectors were:Â Â Gold
(
XAU |
Quote |
Chart |
News |
PowerRating)Â +2.42%Â Â Â Â Â Â Â Â Â
Internet
(
GIN |
Quote |
Chart |
News |
PowerRating) +1.51%Â Â Â Â Â
Healthcare
(
HMO |
Quote |
Chart |
News |
PowerRating) +2.48%Â Â Â Â Â Â Â Â Â Â
Weak sectors were:Â Â
Pharmaceuticals
(
DRG |
Quote |
Chart |
News |
PowerRating)
-0.92%Â Â Â Â Â Biotech Â
(
BTK |
Quote |
Chart |
News |
PowerRating)Â -0.50% Â Â Â Â Â
 Airlines
(
XAL |
Quote |
Chart |
News |
PowerRating) -0.44%Â
|
|
+60.76 | 10,348.10 |
| +5.47 | 2070.30 | |
| +3.53 | 1190.10 |
More stocks on the move:
Newell Rubbermaid
(
NWL |
Quote |
Chart |
News |
PowerRating) guided both Q3
and 2005 higher.
Stem Cells
(
STEM |
Quote |
Chart |
News |
PowerRating) invented techniques to derive embryonic cells in
mice, The New York Times Reports.
Elan
(
ELN |
Quote |
Chart |
News |
PowerRating) said that a Tysabri safety evaluation indicated no new
cases of the potentially fatal brain disorder which caused the drug to be
withdrawn last February.
Wachovia
(
WB |
Quote |
Chart |
News |
PowerRating) beat by 0.02, ex-items.
Transocean
(
RIG |
Quote |
Chart |
News |
PowerRating) announced a $2
billion share buyback.
Supervalue
(
SVU |
Quote |
Chart |
News |
PowerRating) reported 0.41 after
all charges, beating by 0.07.
Wal-Mart
(
WMT |
Quote |
Chart |
News |
PowerRating) reiterated its 2%-4%
October sales increase.
Emulex
(
ELX |
Quote |
Chart |
News |
PowerRating) was downgraded at
Citigroup to hold from buy.
Brice Wightman
Â