What Traders Are Waiting For
Two Dow stocks report after the close:
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IBM |
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PowerRating)Â and
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MSFT |
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PowerRating). The Street is
expecting 1.32 from IBM, and .43 from MSFT.
Better-than-expected earnings from Citigroup and United Technologies, in-line
earnings from General Electric, plus a jobless claims report at the lowest level
since July, powered the indexes higher. The Philadelphia Fed coming in at the
highest level since August 2000 also put a positive spin on the equity markets.
The Dow rose 137.77 to 985.04; the Nasdaq gained 2%, up 41.38 1985.82; the
S&P 500 rose 11.32 to 1138.88.
Internet
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$DOT.X |
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$GSO.X |
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$XCI.X |
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were strong; airlines
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$XAL.X |
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$UTY.X |
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Citigroup profit rose 36%, and the stock added 1.04 to 49.90; GE’s net rose
almost 10%; the stock rose 1.08 to 38.75.
Compaq
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CPQ |
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Apple
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AAPL |
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Yahoo
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YHOO |
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rose 2.25 to 20.12.
Hurt by Argentina and Enron exposure, J.P. Morgan Chase reported a large
loss.
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JPM |
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Ford
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F |
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company hopes to save $2 billion in 2002 via restructuring. Ford closed down .25
to 14.70.
Anti-virus software firm Symantec
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SYMC |
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PowerRating) powered up over 12%, to 75.35
on good earnings. Rival McAfee
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MCAF |
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quarter, and raising guidance. MCAF lost 9.21 to 23.08
Cubist Pharmaceuticals
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CBST |
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its experimental antibiotic fell short of efficacy goals.
CBST fell 14.73 to 17.02. Genentech
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DNA |
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posting .20/share. DNA fell 2.18 to 48.60.
U.S. Air
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U |
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NWAC |
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lost money, but no-frills Southwest
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LUV |
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PowerRating) made money in the fourth quarter.