Major indices are trading flat after this morning's
durable goods report. Crude oil futures are trading lower by 0.6% at
$61.02.
Wednesday's
market action created a 10 day intraday high as well as 3
straight days of advancers outnumbering decliners on the S&P 500 Index
(explanations below), which are bearish signals. It will be interesting to see if we get more
bearish signals next week and if any trigger on the Nasdaq, which has been
rangebound for most of the past week (click
here for more info).
Stocks on the
Move
Sprint Nextel (S | news | PowerRating | PR Charts ) Q3 Profit Falls 52%; Adj. EPS
Rise 7%; Backs FY06 Revenue Forecast (full
story). S shares trading sharply higher up over 5%.
OfficeMax (OMX | news | PowerRating | PR Charts ) Turns To Profit In Q3, Adj. Profit
Climbs, Revenue Remains Flat (full
story). OMX shares are trading higher by 2.25%.
Pulte Homes (PHM | news | PowerRating | PR Charts ) Q3 Earnings Decline 50% On 6% Drop
In Home Sale Revenue (full story). PHM shares are trading lower by nearly
1%.
Apache (APA | news | PowerRating | PR Charts ) Q3 EPS Declines On Weak Oil Production,
Aims To Boost Output By Overseas Drilling (full
story). APA shares are trading lower by over 1%.
Symantec (SYMC | news | PowerRating | PR Charts ) Swings To Profit In Q2, Adj. Profit
Falls Despite Revenue Growth, Guides Q3, Reaffirms FY07 EPS Target (full
story). SYMC shares fall nearly 6% in morning trading.
Business Objects (BOBJ | news | PowerRating | PR Charts ) Q3 Profit Remains Flat With
Last Year, Adj. Profit Rises 39% On Strong Revenue Growth, Guides Q4, Lifts FY06
Adj. EPS Target (full
story). BOBJ shares soar nearly 9%.
Newell Rubbermaid (NWL | news | PowerRating | PR Charts ) Q3 Profit Rises On Higher
Revenue; Guides Q4, FY06 (full
story). NWL shares drop over 3.5%.
For more stories as they happen, go to our Breaking
News section.
Market Snapshot
|
Dow |
-14.73 |
12,119.95 |
|
NASDAQ |
+0.86 |
2,357.44 |
|
S&P 500
|
-0.35 |
1,381.87 |
|
|
NYSE |
NASDAQ |
|
Volume |
1,130,034,000 |
976,645,000 |
|
Advances |
1561 |
1381 |
|
Declines |
1521 |
1438 |
|
Up Volume |
499 |
410 |
|
Down Volume |
512 |
479 |
|
New Hi's |
285 |
136 |
|
New Lo's |
9 |
37 |
Strongest/Weakest Sectors
|
Strongest
Sectors |
Weakest
Sectors |
|
Amex Airline Index (XAL) |
Amex Pharmaceutical Index (DRG) |
| Morgan Stanley Healthcare Payors Index (HMO) |
Amex Natural Gas Index (XNG) |
| S&P Insurance (IUX) |
GSTI Software Index (GSO) |
Economic
News
Natural Gas Stocks
Up 19 BCF
Sept. New Home
Sales 1.075 Mln. Vs. 1.021 Mln. In August
Former Fed.
Chairman Greenspan - Most Housing Negatives Behind Us
Sept. Durable
Goods Up 7.8%
Darren Wong
darrenw@tradingmarkets.com
Use our
most
popular trading tool to find out how your stocks will move in the next 5
days.
10
Day High Alert- This is an alert that the market has hit a 10 day new
high intra-day today. Historically this has meant that when the market is above
its 200 day ma, little progress has been seen over the next 2-5 days (on
average) as the market is either overbought or nearing overbought conditions.
It's a good place to be taking profits. When the market is below its 200 day ma
and the market hits a new 10 day high, it has been, on average, a good place to
be looking to put on short positions.
Adv.
Issues > Dec. Issues 3 Days In A Row- Too many stocks rising in one
day or over multiple days usually precede a market that will be quiet or drop.
Too many stocks declining in one day or over multiple days usually precede a
market rally, especially when the market is above its 200 day ma.
