Two Important Earnings Reports Before The Open Tomorrow

December 20, 2004
Brice Wightman

Stocks were mixed on lower oil prices and an upbeat
economic report. Investors must be asking the question “Where’s the
year-end rally?” as this is a seasonally strong time

The Conference Board said its index of leading indicators rose 0.2% in
November, reversing a 5-month downtrend.

Pfizer
(
PFE |
Quote |
Chart |
News |
PowerRating) is pulling all Celebrex ads. Last week it was
reported the drug increased risk of heart attack in higher doses. The company
spent $71 in the first 9 months of 2004 advertising the drug. Pfizer will
continue to market the drug to doctors.

Nokia is setting an upbeat tone, expecting 10% growthÂ in 2005.

Tuesday morning, look for reports from Morgan Stanley and Bear Stearns (2.14)

Dow	+11.38	10,661.30
S&P 500	+0.41	1,194.83
Nasdaq	-7.35	2,127.85

The dollar was -0.50 at
81.65

Crude Oil was -0.87 at
45.70

Gold was +0.50 to 441.80

ce=”Arial” size=”2″ face=”Arial”>Volume was 1.4 billion on the NYSE and
1.9 billion on the Nasdaq.

Market breadth was negative.

NYSE	Issues
Advancing	1611	Up Vol 573
Declining	1708	Down Vol 862
Ratio	1.06	1.50
Nasdaq
Advancing	1148	Up Vol 572
Declining	2009	Down Vol 1207
Ratio	1.75	2.11

Stocks in the News

Pharmos
(
PARS |
Quote |
Chart |
News |
PowerRating) said its dexanibrinol was not effective.

Ryder guided lower for 2005.

Audible Systems
(
ADBL |
Quote |
Chart |
News |
PowerRating) was the subject of downbeat comments in
Barron’s.

Standard Microsystems
(
SMSC |
Quote |
Chart |
News |
PowerRating) reported 0.03 vs an 0.11 estimate.

JP Morgan raised guidance on Intel by a penny.

This Day in History

Brice Wightman

Two Important Earnings Reports Before The Open Tomorrow

BUY THE FEAR, SELL THE GREED

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