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Charles Schwab & Co., Inc.
Email Alert Midday Market View(TM) for Wednesday, November 14, 2001 as of 1:00PM EST Information provided by Schwab Center for Investment Research and Bridge U.S. INDICES (1:00 p.m. EST) ---------------------------------- Market Value Change DJIA 9,793.59 + 42.64 Nasdaq Comp. 1,890.75 - 1.36 S&P 500 1,138.90 - 0.19 ---------------------------------- NYSE Advancing Issues 1,722 NYSE Declining Issues 1,257 NYSE Trading Volume 742 mln NASDAQ Advancing Issues 1,700 NASDAQ Declining Issues 1,615 NASDAQ Trading Volume 1.2 bln ================================== U.S. TREASURIES ---------------------------------- Value Yield Change 6-month bill 1.86% n/a 5-year note 3.79% - 15/32 10-year note 4.46% - 22/32 30-year bond 4.97% - 26/32 The tables above look best when viewed in a fixed-width font, such as "Courier." ================================================================ STOCKS MIXED IN MIDDAY ACTION Stocks were flat to higher following a much better-than-expected retail sales report and some mildly positive corporate earnings news. Retail sales for October were higher primarily reflecting aggressive incentive financing at auto dealerships. As of 11:52 a.m. EST, the Dow Jones Industrial Average was up 0.5%, while the Nasdaq was down 0.1%. The S&P 500 Index was unchanged. Retail stocks were among the best performers, while energy-related stocks led the decliners. Computer and printer maker Hewlett-Packard (HWP,22,f2) posted fiscal 4Q profits of $0.19 a share, well ahead of the First Call consensus estimate of $0.08 per share on an 18% decline in sales. The company cited strength in the performance of its imaging and services segments as well as storage and PC products, despite the continued soft computing environment. Looking ahead, HP said it sees fiscal 1Q margins and expenses to be flat with 4Q, with slightly lower revenues. Network-attached storage maker Network Appliance (NTAP,15.56,f1) reported a fiscal 2Q profit excluding charges of $0.02 a share, above the Street's breakeven forecast. Including items, Network Appliance incurred a loss of $0.03 per share on a 25% drop in sales to $194.7 million. NTAP's CEO said that he expects 3Q revenues and earnings to be sequentially flat amid a murky outlook for business demand. Shares of BEA Systems (BEAS, 16.56,f1) were nearly flat after the business software maker reported 3Q operating earnings of $0.06 per share, $0.01 higher than the First Call consensus estimate on a 2% decline in revenue. The company reiterated its 4Q EPS guidance of $0.06 - $0.07 per share and said new products were helping to drive sales. ---------------------------------------------------------------- TREASURY AND ECONOMIC SUMMARY U.S. Treasuries were down, though off of lows reached in the wake of this morning's retail sales data as stocks backed off earlier highs. According to the Commerce Department, retail sales rose 7.1%, boosted by a record 26.4% jump in auto sales, amid 0% financing incentives at most of the major dealerships. September's sales figures were revised to a 2.2% decrease from the previously reported 2.4% decline. Analysts per Dow Jones Newswires were expecting an increase in October retail sales of 2.5%. Excluding autos, retail sales were up 1.0%, above the consensus forecast for a 0.4% increase on strength in clothing stores and building materials sales. Consumer spending remains the linchpin of economic growth and the strong retail sales results are somewhat impressive given the backdrop of the recent terrorist attacks, ongoing retaliatory campaign and waning employment conditions. ---------------------------------------------------------------- WORLD MARKETS European markets gave back earlier gains and headed mostly lower in step with U.S. equity markets. Energy, gas and insurance issues led the decliners, while travel, metals and manufacturing were among the advancers. The Bloomberg 500 index was up 0.05% as of 11:52 a.m. EST. BP Plc (BP, 46) was among noteworthy energy-related decliners as oil continued to get hammered following comments from OPEC ministers stating that, without the support of non-OPEC members (mainly Russia), production cuts would not effectively boost prices. The euro, after trending lower against the dollar this morning amid a worse-than-expected 1.0% drop in October German retail sales, firmed to trade higher as traders booked profits in the greenback. Jeffrey Reeve, Market Analyst ================================================================ LOGIN to access your account: https://investing.schwab.com/trading/start ---------------------------------------------------------------- To unsubscribe or modify your Email Alert customization options, log in using the link below or copy and paste it into your browser's address window: https://investing.schwab.com/trading/start?SANC=EAMyAlerts ---------------------------------------------------------------- Notice: All email sent to or from the Charles Schwab corporate email system may be retained, monitored and/or reviewed by Schwab personnel. (0801-11478) Information provided by Bridge Information Systems. Copyright 2001 Bridge Information Systems. Charles Schwab & Co., Inc. ("Schwab") is a member of the NYSE, other major U.S. Securities Exchanges, and SIPC. Schwab is a specialist in various securities on the Pacific, Boston and Cincinnati Stock Exchanges and is subsidiary of The Charles Schwab Corporation, which is listed on the NYSE and trades under the symbol "SCH". Schwab Capital Markets L.P. is a member of the NASD and SIPC. Schwab Capital Markets L.P. is also a subsidiary of The Charles Schwab Corporation and is a market maker in approximately 4,900 securities. Schwab Center for Investment Research ("SCIR") is part of Charles Schwab & Co., Inc. The information contained herein is obtained from sources believed to be reliable, but its accuracy or completeness is not guaranteed. This report is for informational purposes only and is not a solicitation, or a recommendation that any particular investor should purchase or sell any particular security. Schwab does not assess the suitability or the potential value of any particular investment. All expressions of opinions are subject to change without notice. The Charles Schwab Corporation, Schwab, Schwab Capital Markets L.P. and its officers, directors, employees, consultants and/or members of their families may have a position in, and may from time to time, purchase or sell any of the mentioned or related securities including derivatives in such securities. At any given time, Schwab specialists, or Schwab Capital Markets L.P. market makers, may have an inventory position, either "long" or "short" in any security mentioned in this report as a result of their specialist/market making functions, respectively. Additionally, Schwab or Schwab Capital Markets L.P. may be on the opposite side of orders executed on the floor of the Pacific, Boston and/or Cincinnati Stock Exchanges or over-the-counter market respectively, as well. Schwab (or persons related thereto) or consultants may perform or solicit investment banking or other business from any company mentioned in this report. (C)2001 Charles Schwab & Co., Inc. 1) Schwab Capital Markets L.P. makes a market in this security. 2) Schwab is a specialist in this security. 3) Schwab has managed or co-managed a public offering in this security within the last three years. 4) An employee of Schwab is a Director of this company. 5) An analyst covering this stock has an investment position. This service is for personal use only. Commercial use or redistribution in any form, print or electronic, is prohibited. Distribution by Quris, Inc.
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