Use These Earnings Reports In Your Trading On Thursday

April 21, 2004
Brice Wightman

Stocks rose Wednesday
as Alan Greenspan spoke before the Senate Banking Committee and said that the US
economy has entered a period of more vigorous expansion and may require higher
interest rates “at some point.” He ruled out an immediate increase, saying that
growth hasn’t resulted in “broad-based” inflation. The Mortgage Bankers Association’s Applications Index fell for the
fifth straight week
as 30-year fixed-rate mortgages rose to 5.84%
from 5.77% the week before.

Ford Motor
(
F |
Quote |
Chart |
News |
PowerRating) posted
earnings that more than doubled to $1.95 billion on strong gains in its
automotive business. Ford was able to slash costs by $600 million. The company
upped full-year earnings forecasts to $1.55 a share. Motorola
(
MOT |
Quote |
Chart |
News |
PowerRating)
surprised Wall Street by earning $609 million with revenue up a whopping 42% to
$8.6 million, well ahead of estimates. MOT is trading up 18%. Its handset
division experienced a 67% increase in sales with profits that more than
tripled. The semiconductor unit reversed course and went back to the black,
earning $ 107 million with sales up 21% to $1.4 billion.

Sanjay Kumar resigned as
Computer Associates
(
CA |
Quote |
Chart |
News |
PowerRating) chairman and CEO. The company was the subject of
a long-running criminal investigation of its accounting practices.

Dow	+2.77	10317.27
S&P 500	+5.94	1124.09
Nasdaq	+17.00	1995.63

The dollar
was +0.55 at 91.12

Gold was +0.09 at 390.36

Crude Oil was -0.75 at
35.73

Volume was
1,724,322,000 on
the NYSE, and 2,084,631,000 on the Nasdaq.

Market breadth was negative.

NYSE	Issues
Advancing	1560	Up Vol 1077
Declining	1771	Down Vol 639
Ratio	1.13	1.68
Nasdaq
Advancing	1880	Up Vol 1382
Declining	1262	Down Vol 661
Ratio	1.49	2.09

Stocks in the news:

Teradyne
(
TER |
Quote |
Chart |
News |
PowerRating) posted net income of $40.2 million
with sales up at $430.6 on strong demand for its test and measurement equipment.
For the next quarter, it expects earnings to reach 35 cents with sales exceeding
$500 million.

Kodak
(
EK |
Quote |
Chart |
News |
PowerRating) earnings more than tripled from strong
digital camera sales and a declining dollar. Profits rose to $28 million with
revenue up to $2.92 billion.

United Technologies
(
UTX |
Quote |
Chart |
News |
PowerRating) earned $579 million in
the first-quarter with sales up $ 29% to $8.6 billion, both ahead of Wall Street
consensus.

Warren Buffett was re-elected to the Coca-Cola
(
KO |
Quote |
Chart |
News |
PowerRating)
board after the company reported earnings that rose to $1.13 billion with sales
up to $5.08 billion. Its international sales were strong, with a 4% volume growth
in Europe, 14% 16% in Argentina and in China.

Brice Wightman

bricew@tradingmarkets.com

Use These Earnings Reports In Your Trading On Thursday

BUY THE FEAR, SELL THE GREED

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