Market Updates
Market moves higher on lower oil
06 Apr, 2005
New York City
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Market averages continue its upward trends as oil trades below $56.The broad rally is also getting support among semiconductor stocks.This morning Merrill Lynch upgraded several semiconductor stocks.
Market averages continue its upward trends as oil trades below $56.The broad rally is also getting support among semiconductor stocks.This morning Merrill Lynch upgraded several semiconductor stocks.
Among the gainers, semiconductor stocks were Altera Corp, ATI technologies, Maxim Integrated, Nvidia and PMC-Sierra. Philadelphia Semiconductor index is up 1.26%.
Home builder stocks are on decline after Standard Pacific reported declining first quarter sales.
During the morning testimony Fed chairman told the Congress to clarify the Government Sponsored Enterprise insolvency rules. The Fannie Mae and Freddie Mac are trading slightly higher.
MCI board this morning has decided to stay with the Verizon offer and reject the higher Qwest bid.
Shares of research in Motion have declined 3% after reporting mixed results and disappointing revenue guidance.
IBM reported that in its April 18 earnings report it will expense options and will limit the new grant of options to employees.
Bob Evans Farms reported March same store sales decline of 4.3% from a year ago. The stock is trading lower 1.8%.
El Paso Corp plans to offer $750 million of convertible debt to institutional shareholders.
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