This Entire Sector Cut At CSFB Today…
Stocks are higher, ignoring higher oil.
Oil surged to near $60 on hurricane concerns.
Factory orders rose 2.9% in May, in-line with expectations.
Mercury Interactive
(
MERQ |
Quote |
Chart |
News |
PowerRating) warned for Q2. The new estimate is
0.30 – 0.35, down from 0.33 – 0.37.
Walgreen [WAG||WAG] June same store sales rose 7.8%.
Wal-Mart
(
WMT |
Quote |
Chart |
News |
PowerRating) June same store sales rose 4.5%. Oppenheimer upgraded
the stock to a buy.
General Motors is extending its highly successful employee discount
campaign. Last month, the promotion led to the best sales in 18 years and 47%
higher than a year ago. GM said the program will continue on 2005 models until
August 1. Daimler Chrysler is matching GM’s program. Ford spokesman David Reuter
said ” We’ll take a look at what our competition is doing. I wouldn’t expect an
announcement today.” Ford’s Q2 profit fell 38%.
CSFB cut the homebuilders and specifically KB Home
(
KBH |
Quote |
Chart |
News |
PowerRating)
and M.D.C. Holdings
(
MDC |
Quote |
Chart |
News |
PowerRating) to underperform.
Bausch & Lomb
(
BOL |
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Chart |
News |
PowerRating) is buying a controlling stake in China’s
Shandong Chia Tai for $200 million.
A strike at Placer Dome’s Zaldivar mine in Chile
(
PDG |
Quote |
Chart |
News |
PowerRating) sent
the stock down over 5%. Contingency plans
were made to mitigate the impact on production.
Strong sectors are:Â Â Oil Services
(
$OSX.X |
Quote |
Chart |
News |
PowerRating)
+2.58%Â Â Â Oil
(
$XOI.X |
Quote |
Chart |
News |
PowerRating)
+1.49%Â Â Â Natural Gas Â
(
$XNG.X.X |
Quote |
Chart |
News |
PowerRating)
+1.80%Â Â Â Â Â Â Â
    Â
Weak sectors are: Â Gold
(
XAUI.X |
Quote |
Chart |
News |
PowerRating) -2.58%Â Â Â Â Â Â Airlines Â
(
$XAL.X.X |
Quote |
Chart |
News |
PowerRating)
-1.33%Â Â Â Â Chemicals
(
$CEX.X |
Quote |
Chart |
News |
PowerRating) -0.56%Â Â Â
Â
| Dow | +40.51 | 10,343.95 |
| Nasdaq | +12.59 | 2069.96 |
| S&P 500 | +6.79 | 1201.23 |
The dollar is +0.14 at
90.57
Crude Oil is +0.85 at
59.60
Gold is -3.70 at 422.60
608 million on the Nasdaq.
Market breadth is positive.
| NYSE | Issues | |
| Advancing | 1877 | Up Vol 418 |
| Declining | 1108 | Down Vol 229 |
| 1.69 | 1.82 | |
| Nasdaq |
||
| Advancing | 1639 | Up Vol 392 |
| Declining | 1211 | Down Vol 174 |
| 1.35 | 2.25 |
Stocks in the News
Mohawk
(
MHK |
Quote |
Chart |
News |
PowerRating) is buying Belgium’s Unilin for $2.6 billion.
Merrill Lynch upped Morgan Stanley
(
MWD |
Quote |
Chart |
News |
PowerRating)Â to ‘buy.’
Amazon
(
AMZN |
Quote |
Chart |
News |
PowerRating) was raised to buy at Legg Mason.
Brice Wightman