What Will These Earnings Do To Stocks Tomorrow?
Stocks were lower after eBay reported disappointing
earnings. The Nasdaq closed at its lows for the year. There are
only seven more sessions left in January–traders are talking about the January
Barometer (as January goes, so goes the year).
eBay
(
EBAY |
Quote |
Chart |
News |
PowerRating) reported pro-forma earnings of 0.33
vs 0.34 consensus; revenues were 935.8 million vs 934.36 million estimate. The
company announced a 2:1 stock split. The stock fell after hours. Analysts
estimate that 405 million items were posted on eBay last quarter. Â Piper
Jaffray, Deutsche Bank and Friedman Billings Ramsay all downgraded the stock.
Qualcomm
(
QCOM |
Quote |
Chart |
News |
PowerRating) reported 0.27, missing by a penny; revenue was in-line. The company
guided lower and the stock sold off after hours.
Citigroup
(
C |
Quote |
Chart |
News |
PowerRating) beat estimates and boosted its dividend by 10%.
Profits rose 12%.
Earnings this far this quarter are OK, not great. Inflows into stock funds
have been less than normal; January is usually a strong month for fund inflows.
Near the close, Lam Research
(
LRCX |
Quote |
Chart |
News |
PowerRating) beat by 0.06. After the
close, Harmonic
(
HLIT |
Quote |
Chart |
News |
PowerRating) beat by 0.04 and guided higher. Scientific
Atlanta
(
SFA |
Quote |
Chart |
News |
PowerRating) beat by a penny but was light on revenues. KLA-Tencor
(
KLAC |
Quote |
Chart |
News |
PowerRating) beat by 0.02 on revenues that beat estimates. Xilinx
(
XLNX |
Quote |
Chart |
News |
PowerRating) beat by a penny. CheckFree
(
CKFR |
Quote |
Chart |
News |
PowerRating) beat by 005.
George W. Bush was inaugurated in the second term as the 43rd
President of the United States.
Strong sectors were: Gold
(
HUI.X |
Quote |
Chart |
News |
PowerRating) +0.07%.
Weak sectors were: Retail
(
RLX.X |
Quote |
Chart |
News |
PowerRating) -3.47%, Internet
(
GIN.X |
Quote |
Chart |
News |
PowerRating)
-3.35%, Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) -2.91%.
| Dow | -68.50 | 10,471.47 |
| S&P 500 | -9.22 | 1175.41 |
| Nasdaq | -27.71 | 2045.88 |
The dollar was +0.23 at
83.79
Crude Oil was -0.53 at
47.33
Gold was -0.50 to 422.10
2.2 billion on the Nasdaq.
Market breadth was negative.
| NYSE | Issues | |
| Advancing | 1041 | Up Vol 432 |
| Declining | 2261 | Down Vol 1238 |
| 2.17 | 2.86 | |
| Nasdaq |
||
| Advancing | 944 | Up Vol 577 |
| Declining | 2155 | Down Vol 1600 |
| 2.28 | 2.77 |
Stocks in the News
Symantec
(
SYMC |
Quote |
Chart |
News |
PowerRating) beat by 0.02 and raised its outlook.
Extreme Networks
(
EXTR |
Quote |
Chart |
News |
PowerRating)
beat by 0.04.
F5 Networks
(
FFIV |
Quote |
Chart |
News |
PowerRating) beat by 0.05, beat on revenues and
guided higher.
Ford
(
F |
Quote |
Chart |
News |
PowerRating) reversed a year ago loss and beat by a penny.
United Health’s
(
UNH |
Quote |
Chart |
News |
PowerRating) profit rose 46% and earnings beat by a
penny. The company also guided higher.
Harley Davidson
(
HDI |
Quote |
Chart |
News |
PowerRating) beat by .02.
Brice Wightman
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