This was the day that could have been. Earnings were coming out favorably, yet the data just couldn't support the stocks. There were also trader comments that BofA/Merrill had large sell orders or sell programs throughout the day. It looks like the DJIA even closed out under the 10,000 mark on an unofficial basis. Here were today's unofficial closing bell levels:
Dow 9,974.75 -106.56 (-1.06%)
S&P 500 1,079.73 -13.18 (-1.21%)
Nasdaq 2,154.47 -10.82 (-0.50%)
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Amazon.com Inc. (NASDAQ: AMZN) had the best report this week for retail and for tech. It earned $0.45 EPS on a 27% revenue gain of $5.45 billion, Thomson Reuters was at $0.33 EPS and $5.03B in revenues. The guidance was $8.12 to $9.12 billion vs. $8.12 billion estimates. Shares were up big last night, but the last 30 minutes of the day saw above price all-time highs. Shares were up 26% at $118.00 shortly before the closing bell.
Biogen Idec Inc. (NASDAQ: BIIB) was in trouble all day. The culprit is European Union review of TYSABRI for MS treatments because of more PNL cases. Shares were down just under 6% at $44.42 late in the day.
Broadcom Corporation (NASDAQ: BRCM) also had a dog of an earnings report because the company is not very positive for the coming quarter. It posted earnings of $0.40 in non-GAAP EPS and a 20% revenue jump sequentially and 3.4% lower than a year ago to $1.254 billion, but it also noted that revenues will be flat sequentially. Shares were down 6.5% at $28.71 on the day.
Capital One Financial (NYSE: COF) was one of the better performing financial stocks after it reported net income for the third quarter of 2009 of $425.6 million last night. This comes to a whopping $0.94 EPS and income from operations of $1.03 EPS compared to estimates of $0.14 EPS. Revenues were versus $4.11 billion estimates. Shares were up by 6% at $40.65 shortly before the closing bell.
Dole Food Company, Inc. (NYSE: DOLE) was another poor IPO. The largest fruit and vegetable company priced a 35.715 million share IPO at $12.50 per share, under the expected range of $13 to $15 per share. And shares were trading down at $12.29 shortly before the closing bell.
Microsoft Corporation (NASDAQ: MSFT) was far better than expected. The software giant posted $0.40 EPS compared with $0.48 last year. The company has revenue $12.92 billion. Both numbers were well ahead of Wall St. forecasts of $0.32 a share on revenues of $12.4 billion. Shares were up about 5.4% at $28.02 late in the day.
SunPower Corporation (NASDAQ: SPWRA) beat earnings with $0.42 EPS as revenues rose 56% to $466 million vs. Thomson Reuters estimates of $0.40 EPS and $420.1M revenue. But gross margin was down 1.9% at 20.7% and the guidance was just not good enough. Shares were down by almost 15% at $28.37 ahead of the closing bell.
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