Will This AMAT Report Be A Market Mover?
Stocks rose Tuesday on
better-than-expected Home Depot earnings, lower consumer prices and
higher homebuilding activity and industrial output. Retail stocks and semis
staged a 2-day rally as energy stocks continued their sell off. A Russian court
rejected Yukos’ $3.4 billion tax appeal. Consumer prices dropped for the first
time in 8 months, with the CPI sliding to 0.1% in July.Â
Google asked the SEC to make its IPO
registration effective as of 4 PM ET today; if that happens, Google shares could
trade on the Nasdaq as early as Wednesday — symbol “GOOG.” The company expects
to raise nearly $2 billion in the offering.
In the second quarter, Soros Investment
Management sold shares of ChevronTexaco
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of Sun Microsystems
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After the close, Applied Materials
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reported earnings that beat by a penny and revenues of $2.24 billion that beat
the $2.15 billion estimate; net income was $441 million. Gross margins
were 47.4%; new orders increased 11%. Network Appliance
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beat by a penny, ex-items and beat on revenues. Niku
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0.04 and guided higher.
| Dow | +18.28 | 9972.83 |
| S&P 500 | +2.37 | 1081.71 |
| Nasdaq | +12.41 | 1795.25 |
Strong today were: Brokers
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+1.72%, Semis
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+1.44%, Retail
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RLX.X |
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Weak were: Utilities
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-0.09%, and Drugs
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DRG.X |
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10-year Notes were +130 at 112 300
The dollar
was +0.15 at 88.11
Gold was +1.30 at 406.50
Crude Oil was +0.65 at
46.70
Volume was 1.26 billion
on the NYSE and 1.38 billion on the Nasdaq.
Market breadth was positive.
| NYSE | Issues | |
| Advancing | 1966 | Up Vol 782 |
| Declining | 1330 | Down Vol 458 |
| Ratio | 1.47 | 1.70 |
| Nasdaq |
||
| Advancing | 1782 | Up Vol 1064 |
| Declining | 1284 | Down Vol 298 |
| Ratio | 1.38 | 3.57 |
Stocks in the News
Deere & Co
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DE |
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better than the consensus and guided Q4 earnings higher.
Motorola
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sales in the second half of 2004.
Home Depot
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HD |
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The company increased its fiscal 2004 EPS growth guidance from 10-14% to
14-17%. The company said the average purchase rose 8% to 54.73.
JC Penney
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Staples
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estimates. Company also issued in-line guidance for Q3.
Brice Wightman