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Closing Bell: "Blue Horseshoe Hates Oil & Gold"

Posted May 1st 2008 4:29PM by Jon OggJon Ogg RSS Feed
Filed under: Exxon Mobil (XOM), Eastman Kodak (EK)

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After the FOMC tankeroo yesterday, would you have ever guessed that this would be such a great market day? Well it was. Oil falling almost $1.00 to $112.52 and gold back down to almost under $850/ounce are helping. It looks like traders are piling back on the "stuff and money" rather then commodities and a weak dollar. With the huge move today, you have to wonder where it all came from as the calls and the news was lighter than on many days. Below are the unofficial closing prices from 4:00 PM EST:
  • Dow 13,011.06 +190.93 +1.49%
  • S&P 500 1,409.06 +23.47 +1.69%
  • NASDAQ 2,480.71 +67.91 +2.81%
  • 10YR-TBond 3.749% (-0.01%)
  • 52-WEEK LOWS.
Apache Corporation (NYSE: APA) fell after a doubled net income failed to meet estimates. They generated a net income of $1.02 billion or $3.03 EPS compared to $492.9 million, or $1.47 EPS first quarter 2007. Average estimates by Thomson expected EPS of $3.06. Outlook for production in 2008 was also more conservative. Shares lost 6% to $126.41.


Exxon Mobil Corporation (NYSE: XOM) dropped after earnings failed to meet street expectations. Profits increased by 17.2% compared to first quarter in 2007 to $10.9 billion. Shares fell 3.6% to $89.68.

Eastman Kodak Company (NYSE: EK) fell after a narrowed net loss missed street expectations. They showed a loss of $115 million or -$0.40 EPS. Thomson Financial expected a loss of $0.03 per share. Shares fell 3.75% to $17.22.

JDS Uniphase Corporation (NASDAQ: JDSU) was still sliding after yesterday's disappointing quarterly results. They showed a net loss of $6.2 million or $0.03. Revenue outlooks didn't meet street expectations. The communications equipment provider was downgraded by Roth Capital today. Shares fell a monster 16% to $12.00.

Tyco International Ltd. (NYSE: TYC) dipping after reporting narrower profits despite beating expectations and increasing guidance outlook. They generated EPS of $0.67 off revenues of $4.9 billion, meeting expectations of $4.94 billion. Shares fell 2.4% to $45.65.

Tags: APA, JDSU, TYC

Symbol Lookup
IndexesChangePrice
DJIA-42.6310,408.32
NASDAQ-11.582,164.43
S&P 500-3.201,103.04

Last updated: November 24, 2009: 12:38 PM

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