Preview Of The Upcoming Trading Day And Today's Highlights
April 25, 2000
? ? ? FREE Subscription! Please Enter Your Email to
receive SH Preview @ TheBell
via email
Market Preview For Wednesday
eBay [EBAY] after Tuesday's close reported first-quarter earnings of $0.06 per share, compared with $0.04 during the same period last year. Analysts polled by First Call expected $0.03 a share. The company also announced a 2-for-1 stock split. EBay surged ahead in after-hours trading.
Nortel Networks [NT] late Tuesday reported first-quarter earnings of $0.23 per share, compared with $0.14 during the same quarter last year. Analysts expected $0.18 a share. Nortel was higher in after-hours trading.
Other Factors Affecting Stocks
After Tuesday's close, JDS Uniphase [JDSU] reported third-quarter earnings of $0.11 a share, $0.01 better than analysts expected. Sales increased 155% from the same period last year. JDS, though, was sharply lower in after-hours trading on Tuesday.
Silicon Storage Technology [SSTI] late Tuesday reported first-quarter earnings of $0.34 per share, compared with a loss of $0.28 during the same period last year. Analysts polled by First Call expected a profit of $0.24 a share.
Shares of Datalink.net [DLK] and Hooper Holmes [HH] are expected to split 2-for-1 based on Wednesday's closing price.
Dupont [DD], General Electric [GE] and BCE [BCE] are among the companies holding an annual shareholders meeting on Wednesday.
The Asian Development Bank issues its annual outlook.
Word On The Street
"We've got to get through the Fed meeting in May, we've got to get through the Fed meeting in June," says David Alger of Fred Alger Management. "I think in the second half the volatility will subside and I think the market will really rally."
Expected Initial Public Offerings
Praecis Pharmaceuticals [PRCS] $15-$17
Praecis Pharmaceuticals [PRCS] was formed in 1993 to efficiently discover, deliver, and commercialize pharmaceuticals through integration of proprietary gene-based and chemistry-based technologies, high thoughput screening, and drug delivery strategies.
Selected Expected Earnings Releases
(Consensus Estimates vs. Last Year, Provided By First Call/Thomson Financial)
Amazon.com [AMZN] Q1 -$0.36 vs. -$0.12
Anheuser-Busch [BUD] Q1 $0.74 vs. $0.66
Chevron [CHV] Q1 $1.46 vs. $0.40
Haliburton [HAL] Q1 $0.11 vs. $0.18
McKesson HBOC [MCK] Q4 $0.30 vs. $0.47
Nextel [NXTL] Q1 -$0.90 vs. -$1.66
Tricon Global [YUM] Q1 $0.55 vs. $0.50
Projected Economic Releases
(Consensus Forecasts vs. Previous Report)
Durable Goods Orders Mar 1.8% vs. -2.7%
Preview For Canada
JDS Uniphase [T.JDU] after Tuesday's close reported third-quarter earnings of US$0.11 a share, $0.01 better than analysts expected. Sales increased 155% from the same period last year. JDS, though, was sharply lower in after-hours trading on Tuesday.
724 Solutions [T.SVN] late Tuesday reported a first-quarter loss of US$0.20 a share, compared with a loss of US$0.14 during the same quarter last year. Analysts polled by First Call expected a loss of US$0.43 a share.
After Tuesday's close, The Caisse de d‚p“t et placement du Qu‚bec announced it had acquired Monday, 99,100 common shares of Western Star Trucks Holdings [T.WS], or 0.7% of such shares outstanding, at a price of $20.05 per share, on the Toronto Stock Exchange.
Other Factors Affecting Stocks
Delaney Energy Services [V.DLY] late Tuesday reported first-quarter earnings of $0.04 per share, compared with $0.01 during the same period last year.
Selected Canadian Expected Earnings Release
(Consensus Estimates vs. Last Year, Provided By First Call/Thomson Financial)
Abitibi-Consolidated [T.A] Q1 $0.12 vs. -$0.44
Agnico-Eagle [T.AGE] Q1 N/A vs. -$0.03
BCE [T.BCE] Q1 $0.67 vs. $0.57
Dofasco [T.DFS] Q1 $0.70 vs. $0.43
Domtar [T.DTC] Q1 $0.34 vs. $0.07
Four Seasons [T.FSH] Q1 $0.35 vs. $0.30
Shell Canada [T.SHC] Q1 $0.46 vs. $0.28
Torstar [T.TS.B] Q1 $0.31 vs. $0.28
Projected Canadian Economic Releases
(Consensus Forecasts vs. Previous Report)
Retail Trade Feb 0.2% vs. unchanged
Retail Trade, excluding autos Feb N/A vs. -0.2%
Today In The Markets
NASDAQ 3,711.20 + 228.80
DJIA 11,124.82 + 218.72
S&P 500 1,477.14 + 47.28
TSE 300 9,108.40 + 285.90
CDNX 3,562.70 - 9.40
NASDAQ, Dow Surge Ahead
Investors on Wall Street were in a buying mood on Tuesday sending both the NASDAQ and Dow higher. The NASDAQ rose 6.5%, buoyed by a 35% gain by Network Appliances [NTAP]. The Dow advanced 2%, led by a 7.6% rise by Intel [INTC].
TSE Also Gains
The stock rally south of the border spilled over to the TSE 300 Tuesday, as the Canadian index rose 3.24%. The Utilities sub-index led the TSE?s advance, gaining 7% on a 9.5% rise by BCE [T.BCE]. itemus [T.VEN] topped the most active list with more than 5 million shares traded.
For more movers and shakers in the Canadian market, see StockAlert, updated throughout the trading day.
StockHouse Financial News
Kuwait Contract Hopes Increase Enthusiasm For EARTH
Environmental Report By Keri Korteling
EARTH (Canada) [V.EAR] manufactures an inexpensive, efficient and environmentally friendly product designed to absorb oil for pollution and spill control. CEO Edward Akkawi tells StockHouse of the company plans to build out its sales force and capitalize on evaluations underway by blue chip firms.
Full Story
Ivanhoe Mines: Asian Recovery To Help Undervalued Copper/Gold Play
Mining Report By Craig Stanley
Ivanhoe Mines [T.IVN] has a producing copper mine in Myanmar, a gold mine in Kazakhstan that can quickly start producing if gold prices move higher, and a major stake in a producing gold mine in Fiji. With an Asian recovery in the works and the possibility of higher copper and gold prices ahead, the company's languishing stock appears undervalued.
Full Story
Moss Resources: Promising Software Play In Lucrative Insurance Market
Insurance Software Report By Carol A. Hood
Moss Resources [T.MRS] is in the midst of showing its cost-saving software to leading property insurers. If Moss's product is as attractive as the company says it is, the stock, which has slumped with other techs recently, could soon be on the move again.
Full Story
Corel's Cowpland Confident Linux Will Catch Windows By 2004
CEO Interview By Brian D. Robinson
As Corel [CORL] continues to forge ahead with significant Linux product announcements, revenues are failing to keep up with increasing expenditures. In an exclusive interview with StockHouse, Corel CEO Michael Cowpland says that the focus for now is still on growth, as Corel pushes the Linux OS in an attempt to catch Windows by 2004.
Full Story
Pfizer Breaks New 52-Week High, Drugs Steal Thunder From Techs
Pharmaceutical Report By Hilary Chiba
Shares of Pfizer [PFE] have been cruising higher as Internet equity maladies send smart money reeling for reprieve in the high growth drug sector. And as Genomics high-flyers recover from a wing clipping, drug giants like Pfizer will gain from their toils, raking in cash by marketing the hard work of the risk-bearing drug developers.
Full Story
Towering Wireless Profits For Pinnacle
Wireless Report By Beth Price
Pinnacle Holdings [BIGT] owns, manages, and leases communications towers across the US, and markets its lucrative antenna space to nearly 4,000 customers, including Motorola [MOT], Nextel [NXTL], and BellSouth Mobility [BLS]. Booming cell phone usage, more wireless data applications, and tricky zoning regulations translate into considerable growth potential for Pinnacle, which is expected to announce earnings Monday.
Full Story
Stock Watch
Hot Stocks
E-Loan's [EELN] shares surged 86% Tuesday after the online lending company announced that Charles Schwab [SCH], Abbey National, FT Ventures and others have bought equity stakes in the company totaling $40 million in cash.
itemus [T.VEN] shares rose more than 14% Tuesday after the company announced that it had made early round minority investments totaling nearly US$4 million in three privately-held companies specializing in next generation networking technologies.
Cold Stocks
Shares of Xoma [XOMA] dropped 36% Tuesday after it, along with Baxter Healthcare [BAX], said Tuesday they will delay filing for Neuprex, a drug for pediatric patients with meningoccemia.
Gold and precious metal stocks were trading lower on the TSE Tuesday, led by Barrick Gold [T.ABX] and Placer Dome [T.PDG].
BullBoards?: Talk Of The Market
MSFT's Future Uncertain, Breakup Rumors Send NASDAQ Reeling
Microsoft [MSFT] financial forum discussions were initially focussed on the dismal effect the software giant had on Monday's trading session. On news that the US Department of Justice (DoJ) could force a breakup of MSFT, the company's stock plummeted as low as $65.13 before the closing bell put MSFT and the sliding NASDAQ out of its misery. The far-reaching losses were compounded by a MSFT earnings report released Thursday that elicited mixed reviews. Although Q3 earnings were better than expected, revenue numbers did not meet estimates. For MSFT investors and posters, the diminishing share price represents a great buying opportunity. At first, 'slam_stocks' criticized what he/she saw as MSFT's somewhat unscrupulous earnings manipulations, but ultimately, encouraged others to "buy more": "So MSFT beat earnings, again!!! However, they are projecting a slowdown, again!!! Does anyone remember when MSFT did not project a slowdown??? MSFT every quarter advises analysts to lower expectations so they could beat the market over and over again??? Analysts are idiots to fall for this trick every single quarter. This is not unusual!!! 'webes's' comments summarized the doom and gloom felt by posters following rumors that the US Justice Department is leaning toward a breakup of MSFT: The quarterly report was NOT strong, management guided the street down for future quarters for the first time ever, and the pending government decision is a black cloud. May be time to sell the almighty and buy something stronger like Oracle [ORCL]."
Full Story
News In Brief: Editor's Selection
Top Stories
SBC Rings Up Higher Profits
(Reuters) - SBC Communications [SBC], the number one US local telephone company, said on Tuesday its first-quarter profits rose a better-than-expected 12% amid strong growth in its wireless, data and international operations.
Full Story
P&G Meets Lowered Expectations
(CNNfn) - Consumer products titan Procter & Gamble [PG] reported lower fiscal third-quarter earnings Tuesday, but still managed to match analysts' lowered profit expectations.
Full Story
Aliant Rings Up 33% Net Income Gain
(Reuters) - Atlantic Canada telephone carrier Aliant [T.AIT] reported Tuesday a 33% gain in first-quarter net income, reflecting a push for new services and markets.
Full Story
Emco Builds Up Higher Profits
(Reuters) - Canadian building materials manufacturer Emco [T.EML] said Tuesday its operating earnings rose 47% in the first quarter, helped by gains in both its distribution and manufacturing arms.
Full Story
Computing
Corel Sinks On Possible Cash Shortage
(Globe & Mail) - Investors drove Corel [T.COR] stock down 17% Monday following news that the company may run short of cash if its proposed takeover of Inprise [INPR] isn't approved.
Full Story
Earnings
3M Posts Strong Earnings
(Reuters) - 3M [MMM], maker of Post-It Notes, Scotch Tape and a host of other consumer and industrial products, said on Tuesday its first-quarter net income surged an unexpectedly strong 27%, boosted by new products.
Full Story
IPO Report
IPO Market Still Shaky
(Red Herring) - Bankers plan to offer 13 initial public offerings, which are expected to raise a whopping $11.94 billion. But here's the reality behind those figures: six of those proposed offerings are carryovers from last week, with two having been on the calendar for several weeks.
Full Story
Takeovers
Trimark In Takeover Talks
(Financial Post) - After weeks of takeover speculation, Trimark [T.TMF] confirmed Monday it is in discussions regarding a possible change in ownership.
Full Story
Disclaimer: SH Preview @ The Bell is an independent electronic publication committed to providing StockHouse members with factual information on selected publicly traded companies. (Continued) |
