This Stock Is Trading Higher On Lower Debt Rating
Stocks are
trading higher today. We start off the
day with Standard and Poors downgrading Ford’s
(
F |
Quote |
Chart |
News |
PowerRating) $180 billion
outstanding debt to one notch above junk level, citing lower profitability and
cash flow. Surprisingly, F is trading up 4%. UBS also raised S&P 500’s earnings
to $63 a share, up from $60. Microsoft
(
MSFT |
Quote |
Chart |
News |
PowerRating) is up after beginning
its antitrust case with the European Union.
The Dow Jones Industrial
Average
(
$INDU.X |
Quote |
Chart |
News |
PowerRating) is up 0.62% at 9798.64. The S&P 500
(
$SPX.X |
Quote |
Chart |
News |
PowerRating)
is up 0.61% at 1052.21. The Nasdaq
(
$COMPQ |
Quote |
Chart |
News |
PowerRating) is up 1.24% at
1955.20.
The day’s leading sectors are Amex
Gold Bugs
(
$HUI.X |
Quote |
Chart |
News |
PowerRating), 4.71%, Gold and Silver
(
$XAU.X |
Quote |
Chart |
News |
PowerRating),
+3.52%, Disk Drive
(
$DDX.X |
Quote |
Chart |
News |
PowerRating), +3.03%, GSTI Hardware
(
$GHA.X |
Quote |
Chart |
News |
PowerRating),
+2.58%. and Biotech Index
(
$BTK.X |
Quote |
Chart |
News |
PowerRating), +2.37%.
Weak today are S&P Chemical
(
$CEX.X |
Quote |
Chart |
News |
PowerRating), -0.14%, S&P Insurance Index [IUX.X|IUX.X]
-0.10%, and S&P Retail Index
(
$RLX.X |
Quote |
Chart |
News |
PowerRating), 0.05%.
No Economic news releases
today.
10-year Notes are +170
at 111 200.
The dollar
is -1.01 at 9225
Gold is +0.19 at 388.60.
Crude Oil is -0.21 at
30.93.
Volume is 386,450,000 on
the NYSE, and 529,000,000 on the Nasdaq.
Market breadth is positive,
with NYSE advancing issues declining over issues by 2.73 and up over down volume
by 3.97; Nasdaq issues advancing over declining issues at 2.64, and down volume
over up volume at 5.01.
Top Dow stocks
are:
McDonald s [MCD|MCD],
+2.77% 26.34, Eastman Kodak
(
EK |
Quote |
Chart |
News |
PowerRating), +2.28% at 24.84, Boeing |BA|BA],
2.13% at 38.97, and Alcoa [AA|AA],
+2.11% at 32.06.
Stocks
in the news:
GM
(
GM |
Quote |
Chart |
News |
PowerRating) has announced a deal to export
$1.3 billion worth of vehicles to China in the next couple of years. The company
expects to export 4,500 vehicles through its GM China subsidiary.
DSL.net
(
DSLN |
Quote |
Chart |
News |
PowerRating) is up 25% after
reporting a 62% increase in revenue over the year-ago quarter. Net loss
increased to $9.1 million while gross margin rose to $5.2 million.
Cisco
(
CSCO |
Quote |
Chart |
News |
PowerRating) announced a deal to
purchase Latitude Communications
(
LATD |
Quote |
Chart |
News |
PowerRating) for $80 million. LATD zoomed
up 28% after the news.
Faro Technologies
(
FARO |
Quote |
Chart |
News |
PowerRating) shed 10%
after announcing it had agreed to a private placement of $40.4 million of stock
at a discount to current prices.
If you have any comments or questions, please
feel free to email me.
bricew@tradingmarkets.com