These Earnings Will Impact Tomorrow’s Trading
Stocks were higher on merger news, lower oil and
positive news from a Dow component.
Air Canada will buy 32 aircraft from Boeing
(
BA |
Quote |
Chart |
News |
PowerRating).
Valero
(
VLO |
Quote |
Chart |
News |
PowerRating) will buy Premcor for $6.9 billion.
SBC Communications
(
SBC |
Quote |
Chart |
News |
PowerRating) beat by a penny. Revenue grew 2.4% to
10.2 billion.
Despite rising interest
rates, existing home sales in March rose by 1% to 6.89 million, higher than
expected.
Investor Ken Langone will attempt to buy the NYSE, The Wall Street Journal
reports. Mr. Langone has contacted the heads off al the major firms and expects
the NYSE to back his proposal.
A NYSE seat sold for $2.4 million–$600 higher than the previous sale.
After the close, Cendant
(
CD |
Quote |
Chart |
News |
PowerRating) beat by 0.02, ex-items. Boyd
Gaming
(
BYD |
Quote |
Chart |
News |
PowerRating) beat by 0.12. Providian
(
PVN |
Quote |
Chart |
News |
PowerRating) beat by 0.02.
Chubb
(
CB |
Quote |
Chart |
News |
PowerRating) beat by 0.28. Storage Tech
(
STK |
Quote |
Chart |
News |
PowerRating) beat by 0.02.
Altera
(
ALTR |
Quote |
Chart |
News |
PowerRating) beat by 0.02. Swift Transportation
(
SWFT |
Quote |
Chart |
News |
PowerRating)
beat by 0.02, ex-items. Zimmer Holdings
(
ZMH |
Quote |
Chart |
News |
PowerRating) beat by 0.08.
Strong sectors were:Â Internet
(
$GIN.X |
Quote |
Chart |
News |
PowerRating) +2.34%Â Â
Homebuilders
(
$HGX.X |
Quote |
Chart |
News |
PowerRating) +2.18%Â Â Brokers
(
$XBD.X |
Quote |
Chart |
News |
PowerRating)
+1.82%
Weak sectors were: Pharmaceuticals
(
$DRG.X |
Quote |
Chart |
News |
PowerRating) -0.02%
| Dow | +84.76 | 10,242.47 |
| Nasdaq | +18.59 | 1950.78 |
| S&P 500 | +9.98 | 1162.10 |
The dollar was +0.20 at
83.79
Crude Oil was -0.82 at
54.57
Gold was +0.40 at 434.30
1.47 billion on the Nasdaq.
Market breadth was negative.
| NYSE | Issues | |
| Advancing | 2344 | Up Vol 1363 |
| Declining | 979 | Down Vol 377 |
| 2.39 | 3.61 | |
| Nasdaq |
||
| Advancing | 1883 | Up Vol 1069 |
| Declining | 1199 | Down Vol 340 |
| 1.57 | 3.14 |
Stocks in the News
Callaway Golf’s
(
ELY |
Quote |
Chart |
News |
PowerRating) profit was cut in half; the company missed
by 0.03.
Doubleclick
(
DCLK |
Quote |
Chart |
News |
PowerRating) is being bought out by Hellman $ Friedman, LLC,
for 1.1 billion
Kimberly-Clark
(
KMB |
Quote |
Chart |
News |
PowerRating) 0.91, missing by 0.02.
Arch Coal
(
ACI |
Quote |
Chart |
News |
PowerRating) reported 0.25, beating by 0.02.
Earnings at Pilgrim’s Pride
(
PPC |
Quote |
Chart |
News |
PowerRating) rose sharply.
Brice Wightman