Wine Drinkers Will Toast This Supreme Court Ruling…And So Will These Stocks
Stocks are higher on lower crude prices.
Traders will be watching to see if crude closes below $48 today. Alternating
days of gains and losses have frustrated traders for the past few weeks. Energy
stocks continue weak, including COP, SUN and AHC.
UPS is buying Overnight Corp. for $1.25 billion in cash; the
acquisition will allow UPS to increase its less-than-truckload services.
Genentech
(
DNA |
Quote |
Chart |
News |
PowerRating) and OSI Pharmaceuticals
(
OSIP |
Quote |
Chart |
News |
PowerRating) said
that Phase III trials of Avastin showed a 30% improvement in survival rates in
cancer patients.
Celgene
(
CELG |
Quote |
Chart |
News |
PowerRating) reported good results on its Revlimid.
Limited Brands
(
LTD |
Quote |
Chart |
News |
PowerRating) missed by 0.02 and warned for Q2.
The Supreme Court ruled that states cannot prohibit consumers from buying
wine directly from out of state wineries. The ruling could potentially lead to
lower prices and more easily available choices. Up on the news are:
Constellation Brands
(
CTZ |
Quote |
Chart |
News |
PowerRating) and Allied Domenq
(
AED |
Quote |
Chart |
News |
PowerRating).
Strong sectors are: Airlines
(
$XAL.X |
Quote |
Chart |
News |
PowerRating) +2.23%
Retail
(
$RLX.X |
Quote |
Chart |
News |
PowerRating) +1.36% Banks
(
$BKX.X |
Quote |
Chart |
News |
PowerRating) +1.30%
Weak sectors are: Oil Services
(
$OSX.X |
Quote |
Chart |
News |
PowerRating) -1.98%
Oil
(
$XOI.X |
Quote |
Chart |
News |
PowerRating)
-1.687%
Natural Gas
(
$XNG.X |
Quote |
Chart |
News |
PowerRating) -1.56%
| Dow | +50.33 | 10,190.45 |
| Nasdaq | +6.35 | 1983.13 |
| S&P 500 | +4.85 | 1158.90 |
The dollar is +0.09 at
86.19
Crude Oil is -0.83 at
49.45
Gold is flat at 418.80
596 million on the Nasdaq.
Market breadth is positive.
| NYSE | Issues | |
| Advancing | 1984 | Up Vol 400 |
| Declining | 1061 | Down Vol 232 |
| 1.86 | 1.72 | |
| Nasdaq |
||
| Advancing | 1710 | Up Vol 351 |
| Declining | 1208 | Down Vol 175 |
| 1.41 | 2.00 |
Stocks in the News
Lowes
(
LOW |
Quote |
Chart |
News |
PowerRating) missed but profits and revenues rose.
Advanced Micro Devices
(
AMD |
Quote |
Chart |
News |
PowerRating) was raised to a buy at Legg Mason.
Citigroup
(
C |
Quote |
Chart |
News |
PowerRating) is higher after a positive article in Barron’s.
Alcoa
(
AA |
Quote |
Chart |
News |
PowerRating) is lower after Smith Barney cut earnings estimates.
Pfizer
(
PFE |
Quote |
Chart |
News |
PowerRating) is higher after it reported Sutent improved survival
rates and reduced tumor growth.
Brice Wightman