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Stocks were range bound on Wednesday, closing mixed after oil prices rose above $66. Crude jumped after oil inventories fell more than expected, by 2.4 million barrels. Gasoline inventories were better than expected at 4.4 million barrels; the expectation was for a gain of 2.7 million barrels.
After the close, Research in Motion (RIMM | Quote | Chart | News | PowerRating) beat on revenues and guided Q4 higher. The stock traded lower after hours. Red Hat (RHAT | Quote | Chart | News | PowerRating) beat by 0.02.
Kodak (EK | Quote | Chart | News | PowerRating) said that operating earnings in
its digital business won't meet previous projections. Digital revenues, however,
should come in higher than the 36% target, the company said.
Genentech (DNA | Quote | Chart | News | PowerRating) bounced nicely Wednesday after being mentioned yesterday. I'll refer you to TradingMarkets Rule 8: Learn how to properly use RSI. It may be the best indicator available to traders.
Research in Motion (RIMM | Quote | Chart | News | PowerRating) missed by a penny on a GAAP basis. The stock traded lower after hours.
Family Dollar (FDO | Quote | Chart | News | PowerRating) is expected to report 0.17 before the open.
Look for Pepsi (PEP | Quote | Chart | News | PowerRating) to report 0.73 before the open.
Micron (MU | Quote | Chart | News | PowerRating) reports after the bell on Thursday. Look for (-0.09). The stock is trading at the bottom of a channel on this weekly chart.
A director at Jacuzzi (JJZ | Quote | Chart | News | PowerRating) bought 50,000 shares between $7.31 - $7.34. Is that a clue?
Amgen (AMGN | Quote | Chart | News | PowerRating) is looking very oversold here.
Brice Wightman
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