This IPO Is Pricing Tonight–Look For It To Trade Tomorrow
Stocks were lower Monday on
disappointing earnings.
BellSouth
(
BLS |
Quote |
Chart |
News |
PowerRating) missed by 0.05. Kimberly Clark
(
KMB |
Quote |
Chart |
News |
PowerRating)
missed by 0.07. Quest Diagnostics
(
DGX |
Quote |
Chart |
News |
PowerRating) missed by a penny.
LaBranche
(
LAB |
Quote |
Chart |
News |
PowerRating) reported a <0.61> loss, vs. an estimate of 0.02.
Existing homes sales for September rose a
better-than–expected 3/1%, to an annual rate 6.75 million. Homebuilders are up
on the news. CSFB upgraded Pulte Homes
(
PLT |
Quote |
Chart |
News |
PowerRating).
Marsh & McLennan CEO Jeffrey Greenberg
resigned. Michael Cherkasky was named new CEO.
Texas Utilities
(
TXU |
Quote |
Chart |
News |
PowerRating) increased its
dividend by 350%–to 56.25 cents per quarter–and guided higher.
According to The Investors Business Daily,
the top 10 young companies are: Chicago Mercantile Exchange
(
CME |
Quote |
Chart |
News |
PowerRating),
Knightsbridge Tankers
(
VLCCF |
Quote |
Chart |
News |
PowerRating), Google
(
GOOG |
Quote |
Chart |
News |
PowerRating), First Marblehead
(
FMD |
Quote |
Chart |
News |
PowerRating),
Dynamex
(
DDN |
Quote |
Chart |
News |
PowerRating), Wipro
(
WIT |
Quote |
Chart |
News |
PowerRating), Eurobancshares
(
EUBK |
Quote |
Chart |
News |
PowerRating), Infosys
(
INFY |
Quote |
Chart |
News |
PowerRating),
Whiting Petroleum
(
WLL |
Quote |
Chart |
News |
PowerRating) and Cal Dive International
(
CDIS |
Quote |
Chart |
News |
PowerRating).
In IPO action, Shopping.com (SHOP)
will price tonight, between $16-$18, up from $14-$16. The company receives a fee
each time a user click through to a merchant site.
The dollar fell against the euro for a ninth straight day; this is the longest
losing streak since January 2003.
After the bell, Wellpoint
(
WLP |
Quote |
Chart |
News |
PowerRating) reported 1.97, beating by 0.06.
Flextronics
(
FLEX |
Quote |
Chart |
News |
PowerRating) was in-line at 0.17; revenues were slightly lower
than expected. Genesis Microchip
(
GNSS |
Quote |
Chart |
News |
PowerRating) beat by 0.02 and guided Q3
lower.
| Dow | -7.67 | 9750.14 |
| S&P 500 | -1.10 | 1094.76 |
| Nasdaq | -0.83 | 1914.31 |
Strong sectors were: Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) +4.22%,
Gold
(
XAU.X |
Quote |
Chart |
News |
PowerRating) +3.53%, Utilities
(
UTY.X |
Quote |
Chart |
News |
PowerRating) +1.81%.
Weak sectors were:Â Retail
(
RLX.X |
Quote |
Chart |
News |
PowerRating) -0.75%,
Biotech
(
BTK.X |
Quote |
Chart |
News |
PowerRating) -0.55%, Healthcare Providers
(
HMO.X |
Quote |
Chart |
News |
PowerRating)
-0.63%.
10-year notes were: +050
at 113 285
The dollar was -0.90 at
84.97
Gold was +0.10 at 428.40
Crude Oil was -0.63 at 54.54
1.59 billion on the Nasdaq.
Market breadth was positive.
| NYSE | Issues | |
| Advancing | 1720 | Up Vol 663 |
| Declining | 1561 | Down Vol 698 |
| Ratio | 1.10 | 1.05 |
| Nasdaq |
||
| Advancing | 1667 | Up Vol 856 |
| Declining | 1400 | Down Vol 696 |
| Ratio | 1.19 | 1.22 |
Stocks in the News
Kellogg
(
K |
Quote |
Chart |
News |
PowerRating) beat by 0.04 and raised estimates.
Ryder
(
R |
Quote |
Chart |
News |
PowerRating) beat by 0.04.
Aon Corp.
(
AON |
Quote |
Chart |
News |
PowerRating) is the latest company to be investigated by Eliot
Spitzer.
Brice Wightman