TradingMarkets Mid-Day Movers

  • March 5, 2007
  • Darren Wong

U.S. stocks start the week off
mixed despite continued weakness in Asian markets and a lower than
expected ISM Services report. 

Crude prices continue to
move lower on speculation that global economic growth will slow,
cutting fuel demand. Crude for April delivery is trading lower by
1.9% to $60.49 a barrel on the New York Mercantile Exchange. 

Gold futures are also falling in
early trading currently down 0.9% to $638.60 an ounce. 

Asian stocks continued their slide
from last week as the Shanghai Composite shed 1.6% and the Nikkei,
Hang Seng, and TaiEx all lost over 3% in Monday’s session.

Our
PowerRatings
Heat Maps*
from Friday’s close has started to move from neutral to bullish. 
The Drug sector is showing the highest percentage of high PowerRated
stocks with Inspire Pharmaceuticals
(
ISPH |
Quote |
Chart |
News |
PowerRating) and
Advanced Magnetics
(
AMAG |
Quote |
Chart |
News |
PowerRating) gaining 1.4% and 2.2% in early
trading. 

Click here for a free trial to our PowerRatings Heat Maps.



Stocks in
Motion

AMD
(
AMD |
Quote |
Chart |
News |
PowerRating) Warns Of Not Meeting Q1 Revenue
Forecast, Shares Tumble (full
story).  AMD shares fall by 1.8% in early trading.

Research In Motion
(
RIMM |
Quote |
Chart |
News |
PowerRating) To Restate
Past Results; Sees US$250 Mln Reduction In Previous Earnings; Chairman Jim
Balsillie Steps Down (full
story).  RIMM shares move lower by 1%.

BP
(
BP |
Quote |
Chart |
News |
PowerRating) To Buy Chevron’s
(
CVX |
Quote |
Chart |
News |
PowerRating) 
Netherlands Unit, Other Assets For About $900 Mln (full
story).  BP shares drop 1.8%, while CVX shares lose 0.3%.

HSBC
(
HBC |
Quote |
Chart |
News |
PowerRating) Pre-Tax Profits Rise 5% To
$22.1 Bln. For 2006 (full
story).  HBC shares are trading fractionally higher.

Great Atlantic & Pacific Tea
(
GAP |
Quote |
Chart |
News |
PowerRating) To
Acquire Pathmark Stores
(
PTMK |
Quote |
Chart |
News |
PowerRating) In Cash, Stock, Debt Deal (full
story).  GAP shares gain 3.7%, while PTMK shares jump 10.7%.

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

Market Snapshot

Dow

 +34.76 12,148.86

NASDAQ

 -1.54 2,366.46

S&P 500

 -0.12 1,386.88

 

 NYSE NASDAQ

Volume

 1,510,968,000 989,651,000

Advances

 1002 1027

Declines

 2126 1887

Up Volume

 532 491

Down Volume

 822 425

New Highs

 37 36

New Lows

 87 137



Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
Amex Computer Technology Index (XCI) Dow Jones Equity REIT Index (DJR)
CBOE Dow Ten Index (MUT) Amex Gold Bugs Index (HUI)
Amex Pharmaceutical Index (DRG) Amex Oil Index (XOI)


Economic
News

ISM Services 54.3 vs 57.5
consensus

Darren Wong

Associate Editor

darrenw@tradingmarkets.com