Wednesday’s Market Mover…
Stocks
closed in the green today, pulling back mid-day after
the major indices took out yesterday’s highs. The Fed left rates unchanged, but
pointed to a weaker bias. Networking giant Cisco Systems
(
CSCO |
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PowerRating) beat
estimates by a penny after the close.
The Dow Jones Industrial
Average
(
$INDU.X |
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Chart |
News |
PowerRating) gained 56.79 at 8,588.36. The S&P 500
(
$SPX.X |
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PowerRating)
rose 7.84 at 934.39. The Nasdaq
(
$COMPQ |
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PowerRating) rallied 19.67 at 1523.71.
The 10-year Note
was +220 at 115-23.
Volume was
1,615,716,000
on the NYSE, and 2,131,561,000 on the Nasdaq.
Market breadth is slightly
positive, with NYSE advancing issues over declining issues by a ratio of two
to one, and up volume over down volume by a 2.87 ratio. Nasdaq advancing issues
over declining issues are at 1.64, and up volume over down volume is at a 3.57
ratio.
Top Dow stocks were:
Hewlett Packard
(
HPQ |
Quote |
Chart |
News |
PowerRating), +.53 at
17.33, American Express
(
AXP |
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Chart |
News |
PowerRating), +.80 at 39.11, Intel
(
INTC |
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News |
PowerRating),
+.52 at 19.54, and Home Depot
(
HD |
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Chart |
News |
PowerRating) +.56 at 29.48.
Stocks in the news:
Gillette
(
G |
Quote |
Chart |
News |
PowerRating) reported
first-quarter results that were up 19% from the same period a year ago and also
beat estimates by a penny. The stock was up early in the session, but reversed
and is consolidating near the 20- and 50-day moving averages.
Enterprise software maker
J.D. Edwards
(
JDEC |
Quote |
Chart |
News |
PowerRating) warned that second-quarter results would come in
below expectations. The company is expecting revenues to come in between $200
million to $205 million below estimates of $214 million. J.D. Edwards will
report results on May 29.
MBIA Inc.
(
MBI |
Quote |
Chart |
News |
PowerRating)
reported better-than-expected first-quarter results of $1.13 per share vs.
estimates of $1.08 per share.
Shares of Marvel Enterprises
(
MVL |
Quote |
Chart |
News |
PowerRating) were up over 8% on large volume. The company
reported first quarter results of $0.57 per share handily topping estimates of
$0.37 per share. The company had recorded a loss of $0.23 per share in same
period a year ago.
Insurance giant Metlife
(
MET |
Quote |
Chart |
News |
PowerRating) reported first-quarter results that missed estimates by $0.03.