Stocks Take A Breather
After four up-days, the major indices
took a breather on Tuesday. The day started with a
gap down on a warning from a major homebuilder. Toll Brothers
(
TOL |
Quote |
Chart |
News |
PowerRating) revised
down the number of homes it expects to build in 2006, to between 9,500 and
10,200, from 10,200 and 10,600. The number is still higher than 2005’s number.
CEO Robert Toll said there was softening in demand in several markets.
Bonuses on Wall Street are expected to be up 20% this year,
with investment bankers seeing the largest increases. According to The Wall
Street Journal, traders make a base salary between $100,000 and $250,000,
with year-end bonuses making up the largest chunk of their incomes.
After the close, McKesson
(
MCK |
Quote |
Chart |
News |
PowerRating) beat by 0.02 on $21.6 billion revenues. Integrated Device
Technology
(
IDTI |
Quote |
Chart |
News |
PowerRating) beat by 0.03 and expanded its stock buyback
program. Pixar
(
PIXR |
Quote |
Chart |
News |
PowerRating)
beat by 0.11 and beat on revenues.
McDonald’s
(
MCD |
Quote |
Chart |
News |
PowerRating) October comps rose
3.4%, slightly less than expected.
International Paper
(
IP |
Quote |
Chart |
News |
PowerRating) guided
lower, and now sees Q3 of 0.29, down from 0.33.
Strong sectors were: Oil
(
XOI |
Quote |
Chart |
News |
PowerRating) +0.85%
Disk Drives
(
DDX |
Quote |
Chart |
News |
PowerRating) +0.80% Oil Services
(
OSX |
Quote |
Chart |
News |
PowerRating) +0.76%
Weak sectors were:
Retail
(
RLX |
Quote |
Chart |
News |
PowerRating) -1.44% Airlines
(
XAL |
Quote |
Chart |
News |
PowerRating) -1.01%
Computer Hardware
(
HWI |
Quote |
Chart |
News |
PowerRating) -0.79%
|
|
-46.51 | 10,539.72 |
| -6.17 | 2172.07 | |
| -4.22 | 1218.59 |
More stocks on the move:
Netease
(
NTES |
Quote |
Chart |
News |
PowerRating) missed by 0.02 and was
light on revenues. The stock traded lower pre-open.
Alcan
(
AL |
Quote |
Chart |
News |
PowerRating) reported 0.21, lower than
expected, citing higher currency, power and raw material costs.
Blockbuster
(
BBI |
Quote |
Chart |
News |
PowerRating) reported a loss of
(0.13), missing the Reuters consensus by a penny but beating the First Call
consensus.
Teva
(
TEVA |
Quote |
Chart |
News |
PowerRating) beat by 0.02. Q3 profit
rose 6%.
Echostar
(
DISH |
Quote |
Chart |
News |
PowerRating) missed by a penny.
Dynamic Materials
(
BOOM |
Quote |
Chart |
News |
PowerRating) beat by
0.04.
Brice Wightman