Wednesday, October 25, 2006

Strong Earnings Helping Stocks Bounce

The market is higher in early trading, as a string of positive earnings reports have helped push stocks higher.

The 10-year yield is down slightly to 4.81%. Oil is trading higher on a bigger than expected draw in inventories. Semis stocks are leading the way, +2.3%. Homebuilders are also bouncing even though CTX reported soft earnings. It looks like these stocks may have finally bottomed.

In other news and notes:
  • Since they cancelled Smith, my new fav show is Friday Night Lights
  • AMZN beat estimates; stock gap higher
  • Cramer says GOOG goes to $560 (I say higher)
  • MNST misses EPS, guides lower
  • PFCB beats estimates; stock higher
  • IHP beats estimates, raises guidance
  • ISE beats estimates; stock at new high
  • MICC beats estimates; stock gaps higher
  • TROW misses EPS; stock down
  • Trump and Wynn get together to build in AC
  • NSC crushes the estimates by 20 cents

long GOOG, ISE


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