TradingMarkets Mid-Day Movers

  • February 7, 2007
  • Darren Wong

With technology stocks
helping to lead the way higher, the U.S. stock markets are seeing
some strength in late-morning trading on Wednesday. The major
averages have all moved into positive territory, with the
tech-heavy Nasdaq showing a particularly strong upward move.

Notable gainers in the Nasdaq 100
include Apollo Group
(
APOL |
Quote |
Chart |
News |
PowerRating) and Broadcom
(
BRCM |
Quote |
Chart |
News |
PowerRating).  APOL shares
jumped nearly 8%, while BRCM shares gained 6.3%.

Crude oil traded fractionally higher this
morning gaining $0.05 to $58.93 despite the Energy Department
report showing US inventories of heating oil had declined over the
past week.  Gold futures rose $2.70 to $661.40 an ounce
rising for the third consecutive day.



Our PowerRatings
Heat Maps*
from Tuesday’s close continue to show anticipated market weakness. 
The sectors that traders should be most wary about are energy and
electronics. 

Click here for a free trial to PowerRatings Heat Maps.


Stocks in
Motion

Cisco
(
CSCO |
Quote |
Chart |
News |
PowerRating) Q2 Earnings Surge, Top
Estimate; Sees Q3 Sales Up 19-20% (full
story).  CSCO shares rise 4% through the morning.

Apollo Group
(
APOL |
Quote |
Chart |
News |
PowerRating) Q1 Net Income
Declines Despite Higher Revenues; Says Certain Accounting Adjustments May
Adversely Impact Prior Results (full
story).  APOL shares jump nearly 8%.

News Corp.
(
NWS |
Quote |
Chart |
News |
PowerRating) Q2 Profit Declines 24%, Revenue Up 18% (full
story).  NWS shares rise by 2.2%.

Nabors
(
NBR |
Quote |
Chart |
News |
PowerRating) Q4 Profit Rises On Higher
Revenues; Misses Estimates (full
story).  NBR shares trade lower by 0.3%.

Nortel
(
NT |
Quote |
Chart |
News |
PowerRating) To Cut About 2900 Jobs, Sees
8.8% Growth In Q4 Revenues (full
story).  NT shares gain 3.7%.

Polo Ralph Lauren
(
RL |
Quote |
Chart |
News |
PowerRating) Q3 EPS Rises; Tops
Estimate; Guides FY07, 08 (full
story).  RL shares fall by 1.6%.

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

Market Snapshot

Dow

 +22.83 12,689.14

NASDAQ

 +20.03 2,491.52

S&P 500

 +4.18 1,452.18

 

 NYSE NASDAQ

Volume

 1,093,449,000 1,000,441,000

Advances

 1921 1792

Declines

 1151 1073

Up Volume

 597 730

Down Volume

 375 185

New Highs

 336 157

New Lows

 4 25



Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
CBOE Internet Index (INX) Amex Airline Index (XAL)
Nasdaq Telecommunications Index (IXTC) Morgan Stanley Healthcare Products (RXP)
GSTI Internet Index (GIN) Amex Pharmaceutical Index (DRG)


Economic
News

The E.I.A. reports
that crude oil inventories had a draw 449K barrels

Productivity-prelim +3.0% vs +2.0% consensus,
prior +0.2%

Darren Wong

Associate Editor

darrenw@tradingmarkets.com