Why Satellite Users Are Losing Channels

Stocks
continue their descent with continued weakness in the technology sector.

The Nasdaq briefly fell below the 2000-level.
Satellite
provider EchoStar Communications
(
DISH |
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has pulled the plug on
Viacom

(
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channels after a dispute over programming fees. DISH
said Viacom was seeking rate increases up to 40%; the dispute would impact 1.6
million customers in the US. Texas Instruments
(
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PowerRating)
said its
first-quarter outlook would be at the top half of previously targeted goals with
earnings of 20 cents a share and revenue of $2.9 billion. Nike
(
NKE |
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rose to a 52-week high after guiding the Street higher. It expects to maintain a
20% growth rate with earnings to exceed 71 cents a share. NKE is currently
trading at 10-year high.

Interpublic Group
(
IPG |
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PowerRating)

reported a net loss of $102.5 million on revenue of $1.63 billion, due to its previously announced $42.7 million restructuring charge.

Dow
-48.50

10480.96
S&P 500
-4.65
1142.55
Nasdaq -5.83
2002.95

The day’s leading sectors are
Gold and Silver
(
XAU.X |
Quote |
Chart |
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PowerRating)
+0.89%, Amex Gold Bugs
(
HUI.X |
Quote |
Chart |
News |
PowerRating)

+0.44%.

Weak today are Networking
(
NWX.X |
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Chart |
News |
PowerRating)
-1.82%, Airlines
(
XAL.X |
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PowerRating)
-1.64%, and Oil Services
(
OSX.X |
Quote |
Chart |
News |
PowerRating)
– 1.52%.

No Economic news releases
today.

10-year Notes are +120
at 117 135

The dollar
is 0.06 at 87.88

Gold is +5.10 at 406.00

Crude Oil is -0.02 at
36.55

The euro
is -0.09 at 123.79

Volume is 650,000,000 on
the NYSE, and 1,060,000,000 on the Nasdaq.

Market breadth is negative.

NYSE Issues
Advancing 1266 Up Vol
135
Declining 1842 Down Vol 456
Ratio 1.48 3.46
Nasdaq
Advancing 1195 Up Vol
352
Declining 1820 Dow Vol
623
Ratio 1.60 1.77

Top Dow stocks are:

Caterpillar
(
CAT |
Quote |
Chart |
News |
PowerRating)
, +0.86% at
77.56, Coca-Cola [KO|KO
],
+0.84% at 50.29, IBM [IBM|IBM
]
+0.52% at 95.06, and ExxonMobil [XOM|XOM
],
+0.45% at 42.71.

Stocks in the news:

Weyerhaeuser
(
WY |
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News |
PowerRating)
has settled an
antitrust case for $34.5 million and is expected to take a first-quarter charge.
The suit alleged that it had monopoly power or attempted to gain monopoly power
in the Pacific Northwest. The company has not admitted liability.

The FDA approved Amgen’s
(
AMGN |
Quote |
Chart |
News |
PowerRating)
Sensipar, to treat chronic kidney disease and parathyroid cancer.


bricew@tradingmarkets.com