Reply #67: 2:31 EST numbers, blather and the buck [View All]

[UpInArms]

Dow 10,559.84 +131.82 (+1.26%)
Nasdaq 2,130.35 +33.54 (+1.60%)
S&P 500 1,187.76 +13.94 (+1.19%)
10-Yr Bond 4.375% +0.017

NYSE Volume 1,215,321,000
Nasdaq Volume 1,647,582,000

2:00PM: Equities continue to run in place, with technology showing strength across the board... Specifically, semiconductor capital equipment has garnered much of the attention following positive comments from Novellus Systems (NVLS 28.25 +1.31) at its mid-quarter update... The company issued upbeat comments following issuing worse-than-expected guidance in October... Despite revising its Q4 order guidance to $325-330 mln, down 22%-23%, it was still better than the previous forecasts which called for a 22-24% decline...

Analysts have also taken note that, while Novellus will see a significant drop in sales, strong cost controls should keep margins sequentially flat... Also trading higher has been Intel (INTC 22.75 +0.37), which will host its own mid-quarter update after the close of trading tomorrow...NYSE Adv/Dec 2304/984, Nasdaq Adv/Dec 2113/957

1:30PM: Market continues to put together a solid advance, with positive catalysts found in economic data and the drop in crude oil prices.. Earnings news, however, has been a mixed bag this morning with Dollar General (DG 19.50 -0.25) missing consensus expectations by $0.03.... This has not been the norm this reporting season, with most companies coming in ahead of estimates... Analysts continue to expect the S&P 500 Index as a whole to turn in roughly 17% EPS growth for Q3...NYSE Adv/Dec 2334/925, Nasdaq Adv/Dec 2121/930

Last trade 81.58 Change -0.24 (-0.29%)

Settle 81.82 Settle Time 23:36

Open 81.75 Previous Close 81.82

High 81.88 Low 81.55

Last tick: 2004-12-01 13:58:47 ET
30-min delayed quote.