Opnieuw een rustige consolidatie sessie met weinig beweging, vandaag spreekt Greenspan over de economie wat voor een richting kan zorgen.
- Monster Worldwide (MNST) -4%: Global provider of career solutions tops Reuters Research Q4 (Dec) EPS and revenues estimates, but issues cautious guidance for Q1 (Mar); Says EPS should be 'modestly higher than the $0.09 it reported in 1Q03' - versus the consensus estimate of $0.12; Traders sell into the stock's 7% 5-day rally
- Auto (F and GM) F +2% GM unch: New analyst at JP Morgan assumes coverage of the domestic autos and upgrades F to Overweight from Neutral & downgrades GM to Neutral from Overweight; Sees an accelerating product cycle and 'above GM' upside potential at F, and believes that GM's company fundamentals are priced in
- 17:50 ET Tuesday After Hours: prices levels vs. 4 pm ET: After this afternoon's stealth rally, the market has settled down and resumed a more cautious stance. Presently, the S&P futures, at 1142, are 3 points below fair value, and the Nasdaq 100 futures, at 1498, are 4 points below fair value. Sellers have once again booked profits on a number of earnings reports this evening. The below table lists tonight's most notable announcements, and the reasons behind the stock's resulting move.
- 16:44 ET After Hours Movers: Trading Up: NVTL +1.50, MANH +1.30, MUSEE +0.80, MDCO +0.60... Trading Lower: LF -1.40, BONZ -1.20, MNST -0.95, PCLN -0.80, ANSR -0.40, PECS -0.40, SCMR -0.30
- 15:20 ET Bond Market Summary : The treasury market took an uninspired fall today, dropping early as recent longs stepped out of positions and players prepared for the 3-year auction. Much of the day saw lackluster consolidation, while the 3-year auction went well and saw the expected foreign participation (a solid 46.8%, thought to be Asian bank buying). The initial post-auction response was a boost in the market, but it quickly faded. It appears a combination of the expected auction results and the headline grabber of the week, Wednesday's Greenspan monetary policy pep-talk, were too heavy for the unenthused trade, and had treasuries ticking to new lows into the end of the day. "The market's in limbo," ahead of Greenspan, offered one board broker, "much of this is closing positions. He will have to talk about the lagging employment aspect, deficits, and cheer on the economy, but without the jobs ingredient, no new tax revenues, and no deficit reduction." The ten-years spent much the day trapped between 4.08% and 4.11% and are currently -11/32nds yielding 4.097%; twos are -03/32nds yielding 1.794%; threes are -06/32nds yielding 2.202%; fives are -08/32nds yielding 3.105%; thirties are -19/32nds yielding 4.939%.
- 14:27 ET Market Action : Dow pulls back
40 pts over a 10 minute period. Sudden drop being blamed on 1) large sell program, 2) market chatter of some type of explosion inNew York Harbor - 13:04 ET Market spike intraday attributed to big floor buyer in S&P futures :
- 12:19 ET High Short Interest Point Gainers : MATK +2.07 (Short Interest 21% of the float), PWAV +0.98 (19% of the float), CEPH +1.62 (18% of the float), IPAR +1.98 (6% of the float), DAKT +1.26 (5% of the float), SCSS +1.28 (5% of the float), JILL +1.51 (5% of the float), THO +2.26 (4% of the float), ACDO +3.13 (4% of the float).
- 10:45 ET Floor Talk : Merger chatter mania continues as CA for CPWR has recently come to our attention. However, further checks with institutional analysts indicate this rumor has been out on desks before with its validity suggested to be completely off base.
Guy Boscart.