De daling maandag in Azie ging als een golfbeweging over de rest van de wereld, overal werd er verlies geleden. Wall Street verloor maandag ook maar de schade viel mee. Vandaag komt Cisco met cijfers nabeurs, daar zal de techsector die rond de bodems van maart steun kon vinden aangeven of er een nieuwe bodem komt of als er herstel zal plaatsvinden.
Dinsdag 11 mei:
Vandaag is er qwa economische cijfers weinig te beleven. Texas Instruments geeft een analisten bijeenkomst vandaag. Nabeurs komt Cisco Systems met cijfers die nogal wat invloed kunnen uitoefenen op de techsector.
- 18:05 ET Monday After Hours : prices levels vs. 4 pm ET: Selling remains the theme of the day in the after hours session, where the S&P futures, at 1083, are 3 points below fair value, and the Nasdaq 100 futures, at 1396, are also 3 points below fair value. Traders continue to fret over the sharp move higher in bond yields - which has all happened even before the FOMC has raised rates (probably in June or August).
- Angiotech Pharmaceuticals (ANPI) (unch) : Medical device maker reports a Q1 (Mar) net loss of $0.07, $0.04 worse than the Reuters Research bottom-line estimate; Revenues checked in at $11.9 mln, which includes $4.5 mln of royalty revenues primarily from the company's partnership with Boston Scientific (BSX) for the Taxus drug-eluting stent; Device already claims 70% of the US market
- Consolidated Edison (ED) -3% : Utility company cuts its FY04 (Dec) EPS forecast to $2.50-2.70 from $2.60-2.80 citing the dilution from a 14 mln share offering; Con Edison recently (Apr 30) filed its first electric rate increase in 10 years, which sent shares near 52-week highs; ED current sports a 5.7% annual dividend yield
- EDS (EDS) -1%: Second-largest US computer-services provider said it's evaluating various alternatives - including reducing the amount of its dividend by two-thirds or issuing more than $1 bln in new shares - in order to maintain its credit rating; Management has been in discussions for more than a week with Moody's over its current debt rating, which sits one notch above junk status; EDS also disclosed in today's 10-Q it expects FY04 (Dec) EPS of $0.20-0.40 (vs $0.50-0.60 earlier).
- Pacific Sunwear (PSUN) +3% : Teen-based retailer reports a 90% year/year increase in Q1 (Apr) EPS to $0.19 (consensus of $0.16) and a 24% rise in sales to $245.1 mln (consensus of $243.4 mln); Based on its Q1 earnings results and a completed $50 mln stock repurchase plan which reduced share count by nearly 3%, management raised its full year EPS forecast to $1.31 from the current consensus of $1.26, which assumes same store sales growth of 5% for the balance of the year.
- Plains Exploration & Production (PXP) +3% : E&P oil company will be added to the S&P 400 Mid-cap Index on May 14 as the company will be acquiring fellow S&P 600 Small-cap constituent Nuevo Energy (NEV) in a deal expected to close on or about that date; Internet Security (ISSX) will be taking PXP's place in the S&P 600; Software stock actually trades higher by 1% tonight.T>
Guy Boscart,