When Is The Last Time You Saw An Upgrade On A Stock In This Sector?

Stocks are higher, buoyed by lower oil and a report
that showed the economy grew at a steady pace in the fourth quarter.

Q4 final GDP was 3.8%, just off the 4.0% consensus. After-tax corporate profits
rose 12.5% in the fourth quarter, the largest increase in three years. This
compared with a decline of 4.2% in Q3.

AIG said it will delay its annual filing for a second time, citing an
“extensive review” of its records.

According to Pfizer
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, a federal court granted an injunction
against Teva Pharmaceuticals
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, preventing it from marketing a
generic version of Accupril–a Pfizer drug.

Airlines are strong today on lower oil. Merrill Lynch raised AMR and
FRNT
to a ‘buy.’

Strong sectors are:    Airlines
(
$XAL.X |
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+5.03%   
Semis

(
$SOX.X |
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+2.14%   

Weak sectors are:    Oil
Services

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-0.33%  

Dow  +102.71 10,508.41
Nasdaq +26.33 2000.21
S&P 500 +11.71 1177.07

The dollar is -0.13 at
84.19

Crude Oil is -1.43 at
52.80

Gold is +1.80 at 427.50

ce=”Arial” size=”2″ face=”Arial”>Volume is 980 million on the NYSE and
837 million on the Nasdaq

Market breadth is negative.

NYSE Issues
Advancing 2242 Up Vol 667
Declining 898 Down Vol 219
2.49 3.04
Nasdaq
Advancing 1978 Up Vol 635
Declining 924 Down Vol 153
2.14 4.15

Stocks in the News

Tetra Tech
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said it would lose $50 million in Q2. The stock
is trading down pre-open.

Micron Technology
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MU |
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reversed a year ago loss, reporting a $118
million profit. Shares are up pre-open.

Bristol Myers
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and Corgentech
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said their
experimental coronary bypass product, E2F Decoy, did not meet goals in late
stage clinical trials. BMY is terminating its collaboration with CGTK.
Separately, BMY won approval for its hepatitis B drug, Baraclude.

Best Buy will delay its Q4 earnings report.

Michael’s Stores
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raised its Q1 sales and earnings forecast.

Brice Wightman