TradingMarkets’ Mid-Day Movers
The major averages are bouncing today after
a sharp 2-day selloff that took the Dow and S&P500 to their lowest level in
almost 3-months. Stocks are being helped by the drop
in energy prices. Crude Oil futures are trading below $61 on NYMEX.
On the economic front, the Labor Department revealed that
initial jobless claims came in at 390,000 for the week ended October 1, up
21,000 from the previous week’s revised figure. Economists had forecast 350,000.
The gold sector is among the best performers today, rising by
more than 3%. Retail stocks are also showing notable strength, despite somewhat
mixed results for September same-store sales. The sector is trading higher by
more than 1%.
The decline in energy stocks has continued, especially natural
gas-related companies. The natural gas sector is now down more than 2%, while
the housing sector is weak again, adding to its recent losses.
Stocks On The Move
Gymboree
(
GYMB |
Quote |
Chart |
News |
PowerRating) is among the biggest percentage
gainers in the early going after it gave guidance for the third quarter that was
above analysts’ consensus estimate. The stock is currently up 13%.
Pre-announced results are having the opposite impact on The
Medicines Co.
(
MDCO |
Quote |
Chart |
News |
PowerRating), which is among the morning’s worst performers on
lowered third-quarter guidance released after Wednesday’s close. The stock is
currently down 24%.
GE
(
GE |
Quote |
Chart |
News |
PowerRating) announced that it now sees its third-quarter
earnings at the high end of its prior earnings guidance of $0.43-$0.44 per
share. Predicting further momentum in the fourth quarter, the company also
raised its full-year guidance, saying it now expects $1.81-$1.83 per share.
Previously, GE had predicted a full-year profit of either $1.80 or $1.81 per
share.
Meanwhile, Merck
(
MRK |
Quote |
Chart |
News |
PowerRating) revealed that in a phase III trial, its
GARDASIL vaccine prevented 100% of pre-cancers and non-invasive cervical cancers
associated with the human papillomavirus. The drug giant stated that it remains
on track to submit a Biologics License Application for GARDASIL to the FDA in
the fourth quarter of this year.
| Dow |
+31.62 | 10,348.98 |
| NASDAQ |
+0.71 | 2103.73 |
| S&P 500 |
+3.59 | 1199.98 |
| NYSE | NASDAQ | |
| Volume |
1,115,513,000 | 818,007,000 |
| Advances |
1449 | 1455 |
| Declines |
1612 | 1356 |
| Up Volume |
460 | 433 |
| Down Volume |
513 | 325 |
| New Hi’s |
27 | 48 |
| New Lo’s |
107 | 68 |
Â
|
|
Weakest Sectors |
| Airlines ( XAL | Quote | Chart | News | PowerRating) |
Natural Gas ( XNG | Quote | Chart | News | PowerRating) |
| Gold Bugs ( HUI | Quote | Chart | News | PowerRating) |
Oil Index ( XOI | Quote | Chart | News | PowerRating) |
| Gold and Silver ( XAU | Quote | Chart | News | PowerRating) |
Oil Serivces ( OSX | Quote | Chart | News | PowerRating) |
Ashton Dorkins