TradingMarkets Mid-Day Movers
Stocks
began the day lower, pressured by housing stocks after Toll Brothers
(
TOL |
Quote |
Chart |
News |
PowerRating) issued disappointing guidance for 2006 (Full
Story). TOL is trading lower by 11%, well above the low of the day. The
major averages are off their lows of the session and the NASDAQ is trading
slightly higher. Technology, Energy and Biotech stocks are exhibiting strength,
while Housing, Retail and Financial stocks are weak.
The US Dollar Index is trading higher, Treasuries are rallying
sharply and Energy prices continue to decline, driven in part by warm weather
across the Northern US.
Stocks On The Move
Advanced Micro Devices
(
AMD |
Quote |
Chart |
News |
PowerRating) announced a
large increase in market share from Intel
(
INTC |
Quote |
Chart |
News |
PowerRating) in October (Full
Story). AMD is trading lower by 1%.
In earnings news, Teva Pharmaceuticals
(
TEVA |
Quote |
Chart |
News |
PowerRating)
reported Q3 EPS of $0.40 versus $0.37 for the same period last year and above
analyst expectations of $0.38 (more).
TEVA is trading trading higher by 2%.
EchoStar Communications
(
DISH |
Quote |
Chart |
News |
PowerRating) announced net
income more than doubled in Q3. DISH is trading lower by 1.5% and has fallen
from a high of $32.33 in September to a low of $26.28 earlier this month (Full
Story). The trend appears to be a little stretched at present and a positive
divergence is setting up.
Alcan
(
AL |
Quote |
Chart |
News |
PowerRating) reported falling in earnings and
income for Q3 (more).
As mentioned above, disappointing guidance from
Toll Brothers is pushing the stock lower by 11%. However,
(
TOL |
Quote |
Chart |
News |
PowerRating) is trading well above the low of the day and much like DISH the down
trend seems as though a reversal may be on the horizon.
Toll Brothers is dragging Pulte Homes
(
PHM |
Quote |
Chart |
News |
PowerRating), KB Home
(
KBH |
Quote |
Chart |
News |
PowerRating)
and Centex
(
CTX |
Quote |
Chart |
News |
PowerRating) to the bottom of today’s S&P 500 performers list. With
Treasuries looking set to stage an oversold rally, interest rate sensitive
stocks look like an interesting sector to be involved in.
| Dow |
-25.98 | 10,557.25 |
| NASDAQ |
+1.04 | 2179.28 |
| S&P 500 |
-2.27 | 1220.54 |
| NYSE | NASDAQ | |
| Volume |
881,598,000 | 823,838,000 |
| Advances |
1128 | 1145 |
| Declines |
1922 | 1679 |
| Up Volume |
288 | 399 |
| Down Volume |
489 | 359 |
| New Hi’s |
46 | 65 |
| New Lo’s |
69 | 50 |
|
|
Weakest Sectors |
| Oil Service ( OSX | Quote | Chart | News | PowerRating) |
Retail ( RLX | Quote | Chart | News | PowerRating) |
| Oil ( XOI | Quote | Chart | News | PowerRating) |
Banks ( BIX | Quote | Chart | News | PowerRating) |
| Biotechnology ( BTK | Quote | Chart | News | PowerRating) |
Airline ( XAL | Quote | Chart | News | PowerRating) |
Ashton Dorkins