Stocks Hit New Intraday Highs
Stocks are higher Wednesday after strong housing
data was released. New home sales rose 6.5% in July, more than
expected. The seasonally adjusted rate is 1.41 million units. (see
full story)
After surging for three months, US durable goods orders fell more than
expected in July, by 4.9%. It was the biggest decline since January 2004. (see
full story)
The EIA said crude inventories rose by 1.8 million barrels; gasoline
inventories fell 3.2 million barrels. (see
full story)
Ivax
(
IVX |
Quote |
Chart |
News |
PowerRating), Alopharma
(
ALO |
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News |
PowerRating) and Teva
(
TEVA |
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Chart |
News |
PowerRating)
said a court ruled in its favor on a patent infringement case. (see
full story)
Applebees
(
APPB |
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Chart |
News |
PowerRating) said August comps were below expectations; same
store sales rose 1.3%. (see
full story) APPB is off 6.5%.
Baidu.com
(
BIDU |
Quote |
Chart |
News |
PowerRating) reported Q2 earnings of 12.1 million yuan. It
was the first earnings report since the company went public recently. (story)
General Motors
(
GM |
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Chart |
News |
PowerRating) is higher on a Wall Street Journal
report that the United Auto Workers union may help the company cut costs.
Strong sectors
are: Oil Services
(
OSX |
Quote |
Chart |
News |
PowerRating)
+1.21% Disk Drives
(
DDX |
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Chart |
News |
PowerRating)
+1.12%
Weak sectors
are: Gold
(
XAU |
Quote |
Chart |
News |
PowerRating) -1.18% Airlines
(
XAL |
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Chart |
News |
PowerRating) -1.05%
| Dow |
+11.46 | 10,531.04 |
| Nasdaq |
+12.02 | 2149.15 |
| S&P 500 |
+3.50 | 1221.09 |
Stocks in the news:
SeaChange International
(
SEAC |
Quote |
Chart |
News |
PowerRating) reported a Q2 loss, missing my 0.22.
(read
the full story)
Coach
(
COH |
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News |
PowerRating) guided higher. (see
story)
Corinthian Colleges
(
COCO |
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Chart |
News |
PowerRating) will restate revenue for fiscal 2001
through 2005 because of an accounting change. The company said the restatement
will decrease earnings for 2002 by 4 cents, for 2003, 4 cents, and for 2004 by 6
cents. (story)
CV Theraputics
(
CVTX |
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Chart |
News |
PowerRating) said the FDA has expanded labeling for its
hypertension drug Aceon, which now can indicate the drug may be used to lower
heart attack death risk.
Wind River
(
WIND |
Quote |
Chart |
News |
PowerRating) guided lower for Q3. (story)
Brice Wightman