Schaeffer's Trading Floor Blog
Stocks quoted in this article:
A late breaking item - online movie rental company Netflix (NFLX: scorecard, quote, chart) reported second-quarter earnings just moments ago. It reported a profit of nine cents per share, more than double last year's second-quarter profit of four cents per share. Revenue rose 37 percent to $164.5 million. The company also said its subscriber base grew 53 percent over the same quarter last year to more than 3.2 million subscribers. More importantly, NFLX beat Wall Street's consensus estimate by eight cents. Also, the company released its projections for third- and fourth-quarter revenue and net income ranges that were above analysts' forecast. All of the good news has NFLX trading above 19.40 in after-hours trading, a jump of more than 14 percent from its regular session close of 16.96. Short interest is sky-high on NFLX. As of last month, its 14.8 million shares sold short amounts to nearly 40 percent of the stock's float. This one will be one to watch tomorrow to see if short covering can boost the stock even higher.<

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End of the Day Market Wrap

by 7/25/2005 4:30 PM
Stocks quoted in this article:
Trading has wrapped up for the day and the major market averages all finished lower. The biggest loser was the Nasdaq Composite Index, which finished down 60 basis points on the day, while the Dow Jones Industrial Average and the S&P 500 Index finished 51 basis points lower and 38 basis points lower, respectively.

The biggest sector losers were housing and biotech. The PHLX Housing Sector Index (HGX) finished 2.56-percent lower, while the AMEX Biotechnology Index (BTK) finished off 1.69-percent.

The day's biggest gainers were oil service stocks and crude oil futures. The PHLX Oil Service Sector Index (OSX) closed up 0.98-percent, while crude oil futures (.OIL) added 0.60-percent on the day.


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Afternoon Update

by 7/25/2005 2:03 PM
Stocks quoted in this article:
Not too much has changed the past few hours, as the major indexes are still all slightly in the red, with energy stocks far and away the strongest group out there. Checking in on the new highs I see that it is dominated by oil and oil service stocks. Also creeping up on the list are concrete/cement stocks, and water utilities. All in all, the rest of today things could really start to slow down (this of course means get ready for some action the next 120 minutes). <

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Stocks quoted in this article:
One interesting item on Kristin's chart below is this morning's divergence between the performance of crude oil futures (.OIL 58.85) and the two main oil-related equity indices the PHLX Oil Service Sector Index (OSX 161.83) and the AMEX Oil and Gas Index (XOI 947.67). At the time OSX and XOI were higher despite oil being down more than one percent. Well, oil has now reversed and is trading 0.34 percent higher. Both sector indices have added to their gains. XOI is up 0.87 percent and OSX has gained 1.42 percent. Oil-related issues have been among the strongest performers in the market. When they rally whether oil is down or not and despite a lackluster market, it suggests the strength can continue.

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Not Much Happening

by 7/25/2005 11:53 AM
Stocks quoted in this article:
As we move into lunchtime the market really isn't doing too much. Volume has been light and other than energy names gaining, no group is standing out to the up or downside. Still, with well over a thousand names set to release earnings over the rest of the week, I don't think today being slow is a surprise at all.

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