Trading Down $3 After The Close…
Stocks were mixed in choppy trading Thursday.
Traders looked for bargains early on in the oversold market. Jobless claims rose unexpectedly, the highest
1-week gain since March 2002. Claims rose 43,000 to 364,000, with the 4-week
moving average at 333,000. December retail sales rose on average 2.8%, with
analysts expecting a 2.4% rise. There were heavy promotions in December and Q1
comps will be tough. Sixty-six companies beat estimates, while 31
missed.
Wal-Mart
(
WMT |
Quote |
Chart |
News |
PowerRating) same store sales for December rose 3%; Costco
(
COST |
Quote |
Chart |
News |
PowerRating) +9%; Childrens’ Place
(
PLCE |
Quote |
Chart |
News |
PowerRating) +21%; Chico’s
+18.6%.
Pier One
(
PIR |
Quote |
Chart |
News |
PowerRating) sales fell 8.8%, more than expected, and cut its
outlook.
American Eagle Outfitters
(
AEOS |
Quote |
Chart |
News |
PowerRating) same store sales rose +32% and the company guided higher.
A seat on the NYSE went for $1.0 million today, the lowest price since
October 1995. The highest price ever paid was in December 1999, when a seat sold
for $2.65 million.
UTStarcom
(
UTSI |
Quote |
Chart |
News |
PowerRating) guided much lower; the stock traded down $3
after the close.
Continental Airlines
(
CAL |
Quote |
Chart |
News |
PowerRating) said that they would run out of cash if
they couldn’t push through $500 million in wage reductions by February 28.
Strong sectors were: Oil Services
(
OSX.X |
Quote |
Chart |
News |
PowerRating) +1.87%, Oil
(
XOI.X |
Quote |
Chart |
News |
PowerRating) +1.73%,
Biotech
(
BTK.X |
Quote |
Chart |
News |
PowerRating) +1.57%
Weak sectors were: Â Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) -2.34%, Retail
(
RLX.X |
Quote |
Chart |
News |
PowerRating)
-1.78%, Internet
(
GIN.X |
Quote |
Chart |
News |
PowerRating) -1.65%.
Â
| Dow | +25.05 | 10,622.88 |
| S&P 500 | +4.15 | 1187.89 |
| Nasdaq | -1.24 | 2,090.00 |
The dollar was +0.60 at
83.14
Crude Oil was +2.09 at
43.56
Gold was -5.40 to 421.30
2.16 billion on the Nasdaq.
Market breadth was positive.
| NYSE | Issues | |
| Advancing | 1896 | Up Vol 947 |
| Declining | 1414 | Down Vol 591 |
| 1.34 | 1.60 | |
| Nasdaq |
||
| Advancing | 1545 | Up Vol 918 |
| Declining | 1570 | Down Vol 1220 |
| 1.01 | 1.32 |
Stocks in the News
Western Wireless
(
WWCA |
Quote |
Chart |
News |
PowerRating) is in play after The New York Times
reported Alltel is in talks to buy the company.
TiVo
(
TIVO |
Quote |
Chart |
News |
PowerRating) said it will introduce a digital video recorder and
deliver programming on the Internet. The company also announced partnerships
with Microsoft, AMD and Sonic Solutions.
Boeing
(
BA |
Quote |
Chart |
News |
PowerRating) got an order for 10 7E7 Dreamliners, worth $665
million.
Brice Wightman