Trading Lower After Hours…
Stocks were mixed on
higher crude prices.
The White House and the DOE are reviewing requests from oil
refiners to borrow oil from the Strategic Petroleum Reserve. The last time the
SPR was tapped was 2002 in the wake of Hurricane Lilly. The Oils were cut
to neutral at Deutsche Bank. Stocks include XOM and RD.
Jobless claims for the week of 9/18 rose 14,000
to 350,000, more than expected. The 4-week MA rose 2,000 to 341,000. Leading
economic indicators fell 0.3% in August.
Cisco will invest $32 million to open a
R&D center in Shanghai, China.
Merrill Lynch downgraded three airlines: Delta
(
DAL |
Quote |
Chart |
News |
PowerRating), Continental
(
CAL |
Quote |
Chart |
News |
PowerRating) and AirTran
(
AAI |
Quote |
Chart |
News |
PowerRating).
Separately, America West
(
AWA |
Quote |
Chart |
News |
PowerRating) is offering credit on online ticket
purchases. Buy your ticket now, and pay for it in 90 days.
Former Computer Associates CEO Sanjay Kumar
plead not guilty to charges of securities fraud and obstruction of justice.
Estee Lauder
(
EL |
Quote |
Chart |
News |
PowerRating) announced a new men’s
fragrance: Donald Trump, The Fragrance, scheduled for a mid-November
launch.
According to Bankrate.com, these are the top
yielding money-market funds: PayPal Money Market Fund, 1.60%; Scudder Premium
Money Market Shares/AARP, 1.41%; Scudder Premium Money Market Shares/Cl S,
1.39%; Transamerica Premier Cash Res/Inv, 1.36%; Harbor Money Market Fund,
1.35%.
After the close, Electro Scientific
(
ESIO |
Quote |
Chart |
News |
PowerRating)
missed by 0.10 and guided lower. PalmSource
(
PRSC |
Quote |
Chart |
News |
PowerRating) beat by 0.07,
ex-items; the stock traded lower after the close.
| Dow | -70.28 | 10038.90 |
| S&P 500 | -5.20 | 1108.36 |
| Nasdaq | +0.72 | 1886.43 |
Strong sectors were: Internet
(
GIN.X |
Quote |
Chart |
News |
PowerRating)
+0.86%, Semis
(
SOX.X |
Quote |
Chart |
News |
PowerRating)
+0.52%, Gold
(
XAU.X |
Quote |
Chart |
News |
PowerRating) +0.27%.
Weak were: Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) -2.84%, Banks
(
BIX.X |
Quote |
Chart |
News |
PowerRating)
-1.48%, Chemicals
(
CEX.X |
Quote |
Chart |
News |
PowerRating) -1.23%.
10-year Notes were -115 at 113 075
The dollar
was -0.03 at 88.31
Gold was +3.70 at 410.60
Crude Oil was +0.08 at 48.43
Volume was 584 million on
the NYSE and 683 million on the Nasdaq.
Market breadth was negative.
| NYSE | Issues | |
| Advancing | 1537 | Up Vol 431 |
| Declining | 1749 | Down Vol 794 |
| Ratio | 1.13 | 1.84 |
| Nasdaq |
||
| Advancing | 1401 | Up Vol 710 |
| Declining | 1632 | Down Vol 633 |
| Ratio | 1.16 | 1.12 |
Stocks in the News
Andrews Corp.
(
ANDW |
Quote |
Chart |
News |
PowerRating) guided lower.
Bed Bath & Beyond
(
BBBY |
Quote |
Chart |
News |
PowerRating) beat by a penny, but sales narrowly
missed.
Cyberonics
(
CYBX |
Quote |
Chart |
News |
PowerRating) was given conditional approval on a depression
treatment.
Rite Aid
(
RAD |
Quote |
Chart |
News |
PowerRating) beat estimates.
Fannie Mae
(
FNM |
Quote |
Chart |
News |
PowerRating) was cut at Wachovia after federal regulators
challenged the company’s accounting practices.
Martha Stewart Omnimedia [MSO{|MSO] struck a deal with Mark Burnett
("Survivor") for a prime-time TV show.
M.D.C. Holdings
(
MDC |
Quote |
Chart |
News |
PowerRating) guided higher.
A.G. Edwards
(
AGE |
Quote |
Chart |
News |
PowerRating) missed by 0.03.
American Pharmaceutical Partners [APPX|APPX]
may have misled investors about the progress of a key cancer drug, The Wall
Street Journal reports.
Cognos (COGN)
beat by 0.04 and guided higher.
Merix (MERX)
beat by 0.02 on a spike in orders.
Brice Wightman