Watch These 2 Stocks After The Close
Stocks bounced back from their lowest levels of the year
with the Dow trying to stay above the
10,000 mark.
Procter & Gamble
(
PG |
Quote |
Chart |
News |
PowerRating)
purchased a remaining stake in its China joint venture from Hutchison
Whampoa
for $1.8 billion. The transaction will
have minimal impact on its June quarter.
After the close, Cisco
(
CSCO |
Quote |
Chart |
News |
PowerRating)
is expected to report earnings of 18 cents per share on sales of $5.55 billion.
Yahoo!
(
YHOO |
Quote |
Chart |
News |
PowerRating) will have
a 2-for-1 stock split after the bell.
Walt Disney
(
DIS |
Quote |
Chart |
News |
PowerRating)
received an upgrade from UBS citing valuation concerns and better growth
expectations. Banc of America Securities said Merrill Lynch
(
MER |
Quote |
Chart |
News |
PowerRating) was
undervalued and upgraded it to “buy,” raising its price target to $65 and noting
that 44% of Merrill’s revenue and 30% of its pre-tax earnings came from its
retail operations in 2003. Faster growth is expected over the next 18-24 months.
With crude trading at record levels, oil giant ExxonMobil
(
XOM |
Quote |
Chart |
News |
PowerRating) was
upgraded by AG Edwards.
| Dow | +32.21 |
10022.50 |
| S&P 500 |
+7.16 | 1094.25 |
| Nasdaq | +31.62 |
1927.51 |
Strong today are Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) +3.20%, Internets
(
ECM.X |
Quote |
Chart |
News |
PowerRating) +3.06%, Disk Drives
(
DDX.X |
Quote |
Chart |
News |
PowerRating) +2.90%, and Networking
(
NWX.X |
Quote |
Chart |
News |
PowerRating) +2.60%.
Weak today is
Pharmaceuticals
(
DRG.X |
Quote |
Chart |
News |
PowerRating) -0.15%.
No Economic news releases
today.
10-year Notes are +20 at
108 200
The dollar
is +0.31 at 92.06
Gold is -0.60 at 378.30
Crude Oil is +0.52 at
39.45
Volume is 700,000,000 on
the NYSE, and 778,000,000 on the Nasdaq.
Market breadth is positive.
| NYSE | Issues | |
| Advancing |
2656 | Up Vol 549 |
| Declining | 610 | Down Vol 131 |
| Ratio | 4.35 | 10.31 |
| Nasdaq |
||
| Advancing |
2195 | Up Vol 684 |
| Declining |
810 | Down Vol 55 |
| Ratio | 2.74 | 12.44 |
Top Dow stocks are:
Disney
(
DIS |
Quote |
Chart |
News |
PowerRating), +4.80%
at 23.10, Intel
(
INTC |
Quote |
Chart |
News |
PowerRating), +3.16% at 27.32, Â American International
Group
(
AIG |
Quote |
Chart |
News |
PowerRating), +2.33% at 71.46, and General Motors
(
GM |
Quote |
Chart |
News |
PowerRating) +2.26%
at 45.03.
Stocks in the news:
Linktone
(
LTON |
Quote |
Chart |
News |
PowerRating) rose after surprising analysts
with earnings of $2.8 million — from $100,000 a year ago. Revenue rose 440% to
$9.4 million on strong demand for the company’s short messaging services (SMS)
products and services. For the second quarter, the company expects revenue and
income growth of at least 20%.
Mylan Laboratories
(
MYL |
Quote |
Chart |
News |
PowerRating) posted earnings of $74.9
million on revenue of $333.4 million. The company reported a 34% drop in brand
segment revenue and forecasted 2005 earnings of $1.30 a share.
Symbol Technologies
(
SBL |
Quote |
Chart |
News |
PowerRating) reported earnings of $6.8
million on revenue of $420 million on strength in its mobile computing and
wireless products.
Toyota Motors
(
TM |
Quote |
Chart |
News |
PowerRating) reported operating profits of
$14.68 billion on sales of $153.26 billion. US sales rose 6.1% to 2.1 million
vehicles and European sales rose 15.8 % to 898,000 vehicles.
Brice Wightman
bricew@tradingmarkets.com