NASDAQ 2,104.28 +.22%
Leading Sectors
Oil Service +2.43%
Semis +1.32%
Energy +.92%
Lagging Sectors
Retail -.60%
Drugs -1.28%
Iron/Steel -1.34%
Other
Crude Oil 46.22 unch.
Natural Gas 6.83 -.63%
Gold 442.50 -.09%
Base Metals 119.70 +.91%
U.S. Dollar 83.87 +.70%
10-Yr. T-note Yield 4.11% -.37%
VIX 12.98 -1.74%
Put/Call .61 -6.15%
NYSE Arms .93 +24.0%
After-hours Movers
MRVL +6.4% after beating 3Q estimates.
ADSK +6.7% after beating 3Q estimates, eliminating dividend, announcing 2-for-1 split and boosting guidance.
UNM +7.4% after settling with state and federal regulators who were investigating allegations the company improperly stopped paying benefits to clients.
SRNA +10.7% after beating 3Q estimates and raising 4Q guidance.
INCX +17.31% after beating 3Q estimates and raising 4Q outlook.
SIRI +18.2% after naming former Viacom President Mel Karmazin CEO.
BCSI -11.0% after missing 2Q estimates and lowering 3Q guidance.
LONG -6.46% after disappointing 3Q results.
Recommendations
Goldman Sachs reiterated Underperform on MMC, UNM and Outperform on ENH, DIS, DKS. BioLase Technology(BLTI), which makes laser dental and cosmetic systems, is luring investors following changes in its management and the introduction of a new product, Business Week reported. Tractor Supply(TSCO) shares may rise after the company increased prices in response to higher costs of fuel, steel and freight, Business Week reported.
After-hours News
U.S. stocks finished modestly higher today on led by a rebound in semiconductor shares and strength in the energy sector. After the close, Nike founder Phil Knight resigned as president and CEO of the company, the Wall Street Journal reported. Sirius Satellite Radio name former Viacom President Karmazin as CEO, Ad Age reported. Matsushita Electric, NEC and NTT DoCoMo have developed an operating platform using Linux for 3G phones, the Financial Times reported. Most German companies with U.S. stock market listings would like to quit the NYSE due to the increased cost of complying with U.S. regulations, the Financial Times said. Formosa Plastics' two naphtha cracking plants in Texas shut from Nov. 16 because of power outage, causing U.S. ethylene prices to rise by $50/ton, the Economic Daily News said. China's central bank my raise interest rates again as rising costs of steel, fuel and other raw materials stoke inflation concern, the Hong Kong Economic Journal reported. HannStar Display President Ding-hui expects the flat panel display industry to recover as early as March next year after clients digest their inventories, the Commercial Times reported. Disney said fiscal fourth-quarter profit rose 24% as its ESPN cable sports network boosted results, Bloomberg said. Genentech and OSI Pharmaceuticals said their Tarceva lung cancer drug won U.S. Food and Drug Administration approval. Vodafone, Telefonica SA, BT Group and France Telecom pledged to increase dividends and share buybacks, Bloomberg reported.
BOTTOM LINE: The Portfolio finished higher today on strength in my semi, oil service, wireless, RFID and telecom equipment longs. I did not trade in the afternoon, thus leaving the Portfolio 100% net long. The tone of the market improved into the afternoon. Technology shares continue to display bottoming characteristics. The Bears must be very disappointed that AMAT's results were unable to send semis lower. Moreover, after-hours action bodes well for tech stocks tomorrow. I would still like to see measures of investor anxiety rise from current levels. Hopefully this will happen shortly to set table for another significant move upwards I foresee over the coming weeks.
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