Think Google Has A High P/E? Consider This…

Stocks are lower Friday as
crude oil tops $55.
The big news is
Google.

Google
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reported 0.70,
ex-items, vs. a 0.56 estimate. (Non-GAAP 0.45).  The company stated it
would not be offering guidance. GOOG has doubled since its August IPO,
trading up 23% today. On a P/E basis, GOOG is trading at 45. Compare this to
AMZN (29), EBAY (62) and YHOO (72).

Microsoft
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reported $0.32 vs. a $0.30 estimate. Revenue was $9.19 billion vs $8.99
estimate. In its first report as a public company,

Amazon
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reported 0.17 pro-forma revenues, missing
by a penny, with revenue of $1.46 billion, in-line. The stock traded down after
hours. 

Coca-Cola
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reported 0.50, better-than-expected;
revenues were $5.66 billion.

Schlumberger
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missed by a penny but posted a Q3 profit.

Dow -26.25 9839.51
S&P 500 -1.89 1104.60
Nasdaq -15.13 1938.49

Strong sectors are:
Airlines

(
XAL.X |
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+1.05%, Healthcare Providers
(
HMO.X |
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+1.07%, Oil
(
XOI.X |
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+0.87%.

Weak sectors are: Internet
(
GIN.X |
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-2.39%
Semis

(
SOX.X |
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-2.16%, Computer Tech
(
XCI.X |
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-0.95%.

10-year notes are: +020
at 113 205

The dollar is -0.03 at
85.99

Gold is +1.20 at 424.30

Crude Oil is +0.78 at 55.25

ce=”Arial” size=”2″ face=”Arial”>Volume is 596 million on the NYSE and
806 million on the Nasdaq.

Market breadth is mixed.

NYSE Issues
Advancing 1605 Up Vol 290
Declining 1417 Down Vol 233
Ratio 1.13 1.24
Nasdaq
Advancing 1218 Up Vol 222
Declining 1535 Down Vol 534
Ratio 1.26 2.40

Stocks in the News

Watch Vivendi
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V |
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and Time Warner
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as Eliot Spitzer
turns his focus on the record industry.

Broadcom
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beat by 0.02 but sees a see drag on orders.

KLA-Tencor
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beat by a penny but said that the current
quarter would slow down.

Brice Wightman