Schaeffer's Trading Floor Blog

General Motors

by 7/20/2005 9:05 AM
Stocks quoted in this article:

A large number of companies have reported last night and this morning...I have already touched on a couple and it looks like General Motors (GM) is also getting a good deal of attention after they missed estimates.

While an earnings miss is usually not an encouraging sign, I am curious to watch how GM trades. As Bernie recently reiterated the skepticism on GM is extremely thick and problems at the company are already well known. The action in mid-March and April has the look of selling climax so many of the "weak hands" may already be shaken out of the stock so this morning's pullback may be short-lived...

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YHOO and INTC

by 7/20/2005 8:49 AM
Stocks quoted in this article:

I have been scanning around to try to gauge the reaction to the earnings reports from Yahoo (YHOO) and Intel (INTC) that I touched on last night...Both stocks appear poised to open lower, YHOO more so than INTC, but for the most part the reaction from the Street seems rather unconcerned.

I see a couple of downgrades on INTC and I actually see an upgrade on YHOO. Heading into today 80% of the 26 analysts tracked by Zacks had YHOO rated as a "buy" while INTC was 63% as "buys".


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Good Morning

by 7/20/2005 7:52 AM
Stocks quoted in this article:

We come into today and see a somewhat mirror image of what we saw yesterday morning. Stock futures are pointing to a slightly lower open as the S&Ps sit three points below fair value. Gold is up 70 cents to 420.90. Oil is up 43 cents to 59.12.

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Good Night

by 7/19/2005 5:07 PM
Stocks quoted in this article:

Here is the overall picture for today...

A few groups mulled around breakeven but gains were seen by most indices with oil services and internets the leaders on today. However, I am not sure I would spend too much time focusing on today's action as some recently released earnings reports may alter the picture.

A number of reports hit the wires but Yahoo (YHOO) and Intel (INTC) seem to be the reports in focus. Intel beat EPS estimates by a penny and reported inline revenue while YHOO appears to have matched EPS estimates but disappointed on their revenue number. Both stocks are showing some after-hours weakness, but as usual, it will take time for all the dust to settle.

Earlier today I touched on the anecdotal optimism on YHOO and GOOG so I think this will be very important to watch. And that is where I will pick up in the morning...

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Final Figures

by 7/19/2005 4:12 PM
Stocks quoted in this article:

And while the SPX did close near its highs....

Index Index Value Point Change Percent Change
S&P 500 (SPX) 1229.4 8.2 points 0.67 percent
Dow Jones Industrial Average (DJIA) 10646.6 72 points 0.7 percent
Nasdaq Composite (COMP) 2173.2 28.3 points 1.32 percent
Russell 2000 (RUT) 668.9 10.3 points 1.56 percent
CBOE Market Volatility Index (VXO) 9.73 -0.34 points -3.4 percent

...that is not where the real action was. Small caps and tech were the focus of the day while the large cap indices lagged...

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