The Hottest Sectors This Month
Stocks
are down on light volume and low-volatility trading. Final
consumer sentiment numbers were slightly higher than the previous reading of
93.5, ending up at 94.4 but still lower than the consensus of 100+. This year,
$34.3 billion of new funds have been transferred into equity funds, with $500
million being transferred out over past two days. The Healthcare
(
HMO.X |
Quote |
Chart |
News |
PowerRating)
and Biotech
(
BTK.X |
Quote |
Chart |
News |
PowerRating) sectors experienced the most cash inflow.
Homebuilders have experienced a strong week, hitting 52-wk highs. For the
month of February as of yesterday’s close, the S&P 500
(
SPX.X |
Quote |
Chart |
News |
PowerRating) was
down 1.1%, Dow
(
INDU |
Quote |
Chart |
News |
PowerRating) down 0.9% and the Nasdaq
(
COMPX |
Quote |
Chart |
News |
PowerRating)
down 1.6%.
Marvel Technology
(
MRVL |
Quote |
Chart |
News |
PowerRating)
reported fourth-quarter earnings that rose to $19.8 million from a loss of $42.2
million a year ago. Excluding one-time charges, the company earned 29 cents a
share, one penny ahead of analysts’ estimates. Revenue rose 61% to $243.3
million.
While the judge in Martha
Stewart trial dismissed the securities fraud charges, Stewart still faces
charges for making false statements and obstruction of justice.
| Dow | -5.40 | 10574.59 |
| S&P 500 |
-1.17 | 1143.79 |
| Nasdaq | -9.12 | 2023.45 |
The day’s leading sectors are
Natural Gas
(
XNG.X |
Quote |
Chart |
News |
PowerRating) +0.64%, Utilities
(
UTY.X |
Quote |
Chart |
News |
PowerRating) +0.74%,
Hardware
(
HWI.X |
Quote |
Chart |
News |
PowerRating) +0.41%, and Energy
(
DXE.X |
Quote |
Chart |
News |
PowerRating) +0.39%.
Weak today are Semis
(
SOX.X |
Quote |
Chart |
News |
PowerRating)
-1.71%, and Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) -1.04%,
Economic news releases included
higher GDP numbers at 4%, Chain deflators up 0.2%. Revised Michigan Sentiment at
94.4 and Chicago PMI that fell to 65.9.
10-year Notes are +100
at 115 080
The dollar
is -0.29 at 87.50
Gold is +1.30 at 396.70
Crude Oil is +0.36 at
35.87
The euro
is -0.60 at 124.31
Volume is 651,000,000 on
the NYSE, and 925,000,000 on the Nasdaq.
Market breadth is positive.
| NYSE | Issues | |
| Advancing | 1823 | Up Vol 336 |
| Declining | 1292 | Down Vol 299 |
| Ratio | 1.38 | 1.11 |
| Nasdaq | ||
| Advancing | 1380 | Up Vol 376 |
| Declining | 1630 | Dow Vol 522 |
| Ratio | 1.21 | 1.39 |
Top Dow stocks are:
Merck [MRK|MRK],
+1.77% at 48.49, Boeing
(
BA |
Quote |
Chart |
News |
PowerRating), +1.68% at 43.18, United Tech [UTX|UTX]
+1.49% at 91.16, and Altria [MO|MO],
+0.82% at 57.51.
Stocks in the news:
Priceline
(
PCLN |
Quote |
Chart |
News |
PowerRating) received an
upgrade to neutral from JP Morgan Securities which likes how PCLN is
diversifying its business.
SPX Corp
(
SPW |
Quote |
Chart |
News |
PowerRating) missed
fourth-quarter earnings by 20 cents at $3.41 cents a share, with a much lower
operating margin target, down 20%. Three brokerage firms downgraded the stock on
the news. Net income was $98.9 million on revenue of $1.45 billion.
McData
(
MCDTA |
Quote |
Chart |
News |
PowerRating) reported a
smaller loss of $7.5 million on revenue of $114 million. Excluding one-time
charges, the company earned 3 cents, beating analysts’ by 2 cents. For the next
quarter, the company reaffirmed a profit target of a penny a share on revenue of
$112 million.