TradingMarkets Mid-Day Movers

  • March 1, 2007
  • Darren Wong

Stocks are staging a
significant recovery through the morning on Thursday, with the
major averages moving well off their lows for the session after
falling sharply in early trading.

The rebound by the major
averages comes as some better than expected manufacturing sector
data inspired some traders to go bargain hunting following the
initial weakness. Health insurance stocks are showing a
particularly strong upward move.

Crude prices continue to make new
highs for the year.  Crude for April delivery is currently up
0.5% to $62.05 per barrel. Gold futures for April delivery are
flat through the morning at $672.50 an ounce.

Major Asian markets continued moving lower in
Thursday’s session with the Shanghai Composite losing nearly 3%.



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Stocks in
Motion

Oracle
(
ORCL |
Quote |
Chart |
News |
PowerRating) Renews Shopping Spree With
$3.3 Bln Hyperion Deal (full
story).  ORCL shares gain 3.2% in early trading.

Sears Holdings
(
SHLD |
Quote |
Chart |
News |
PowerRating) Q4 Profit Up 27%,
EPS Tops Consensus; Revenue Beats Analysts’ View (full
story).  SHLD shares move lower by 2.6%.

Staples
(
SPLS |
Quote |
Chart |
News |
PowerRating) Q4 EPS Rises 24%, Tops
Street View By One Penny; Sales Up 18%; Guides Q1, FY07; Reveals 32% Higher
Annual Dividend (full story).  SPLS shares lose 2.3%.

Southwestern Energy
(
SWN |
Quote |
Chart |
News |
PowerRating) Q4 Profit Down
On Decline In Natural Gas Prices, Higher Costs (full
story).  SWN shares currently down 3.8%.

Strong Revenue Growth Helps Ciena
(
CIEN |
Quote |
Chart |
News |
PowerRating)
To Post Profit In Q1, Guides Q2 (full
story).  CIEN shares move sharply lower by 10%.

Talisman Energy
(
TLM |
Quote |
Chart |
News |
PowerRating) Q4 Profit Increases
Despite Lower Revenues (full
story).  TLM shares fall by 3%.

For more stories as they happen, go to our
Breaking News section.

Market Snapshot

Dow

 -35.25 12,233.38

NASDAQ

 -9.38 2,406.77

S&P 500

 -3.10 1,403.72

 

 NYSE NASDAQ

Volume

 1,757,492,000 1,270,553,000

Advances

 1030 888

Declines

 2062 2000

Up Volume

 507 331

Down Volume

 1031 826

New Highs

 48 41

New Lows

 56 96



Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
Morgan Stanley Healthcare Payors Index (HMO) Morgan Stanley Healthcare Providers Index (RXH)
Amex Disk Drive Index (DDX) Amex Airline Index (XAL)
Amex Securities Broker/Dealer Index (XBD) Amex Networking Index (NWX)


Economic
News

Construction Spending -0.8% vs
-0.4% consensus

ISM Index 52.3 vs 50.0 consensus

Personal Income +1.0% vs +0.3% consensus

Personal Spending +0.5% vs +0.4% consensus

Initial Claims 338K vs 325K consensus

Darren Wong

Associate Editor

darrenw@tradingmarkets.com