This morning was starting to feel pretty good despite the 5.7% unemployment rate being the highest in over four years. But then there were comments out of Israel about Iran being suddenly closer to a major break-thru in its nuclear program. You can guess what that did for oil prices, although they didn't go much over $125.00 on the news. Today's action and this week's high volatility show the markets are still fighting over for the pole position.
Here are today's unofficial closing bell levels:
DJIA 11,328.27 -49.75 -.44%
S&P500 1,260.80 -6.58 -.52%
NASDAQ 2,310.96 -14.59 -.63%
10YR T-NOTE 3.95%
52-WEEK LOWS
TOP ANALYST UPGRADES
TOP ANALYST DOWNGRADES
Here is a preview for next week's top earnings (CSCO, PG, FRE, S, TWC, SIRI)
General Motors Corporation (NYSE: GM) posted dismal numbers. The loss after non-cash items was more than $15 Billion, worse than expected. Showing auto sales of -32% for July only added sugar in the gas tank. Shares were down in today's final minutes.
NYSE Euronext, Inc. (NYSE: NYX) missed earnings at $0.75 EPS vs. $0.78 estimates on a 14% revenue rise and 17% trading volume rise. The good news is that this is a 21% rise, but the exchange is having a hard time meeting investor expectations over and over with shares now 50% down from highs and shares being lower today.
Sun Microsystems Inc. (NASDAQ: JAVA) has been a hard stock to find good news in for longer than memory can serve. The company's raised earnings guidance from last week wasn't enough to fool earnings traders today. Shares were gapping up over 3% pre-market, but shares were down a sharp before the close.
Douglas A. McIntyre is an editor at 247wallst.com.
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Reader Comments (Page 1 of 1)
8-01-2008 @ 10:47PM
Vinny said...
Israel wants to drag us into war with Iran before our Moronic Idiot leaves office. Well, I guess they own our politicians so why not call in their chips before someone with sense gets into office. We will hear the usual rhetoric from Liberman and his clones how Israel is our 'best friend' in the Middle East.
Let me challenge your memory....when did Israel do a damned thing for the US in exchange for the BILLIONS we have DONATED to them? The answer is NEVER. I'm absolutely TIRED of listening to that crap for years now while they ignore every rule of humanity in the book and continue to imprison a WHOLE NATION OF PEOPLE that they stole land and homes from.
Israel...KISS MY ASS.
8-03-2008 @ 8:31PM
Maria V. said...
The Demographics has changed in the car buying population, yet over 90% of GM’s mid to upper management is still men – even though 49% of the workforce in America are women. I do not think GM knows how to take care of women. That's why women, who make up 65% of new car purchasers and influence 95% of new car buys, try to find whatever man they can to come with them into the dealership. It is like walking through a construction site with the men whistling. It is an awkward feeling that you do not feel safe; that the men at the dealership are about to take advantage of you. Studies show that both men and women prefer to buy their cars from women. Yet GM has only 3% of their dealerships owned by women. Another fact, those dealerships that are owned by women far out-pace, on average, the average male dealership in terms of sales.