Market briefing --- Matt (slow)
Nasdaq --- Julie (slow)
>> earnings season, folks. starting with aa alcoa shares are dropping a bit in extended hours. actually, look at that. they’re unchanged now. they were down about 75 cents earlier. not a huge decline by comparison but the dow member kicked off the second quarter earnings season after the close of trading reporting a jump in income of 87%. earnings rose to 46 cents a share up from 26 cents a year ago, still a cent short of those optimistic analysts. alcoa benefited from surging aluminum prices demand in china and a recovering u.s. economy also helped push prices up of the commodity. 25% for the quarter. high margin sales to airplane and auto makers also on the rise. shares of the company closed up 2.5%, ahead of the report. they’re down about 14% so far this year. another earnings report also out with second quarter results, ginen tech, d.n.a. the ticker there. says profit was inline with what analysts were expecting that income at the world’s second largest biotech rose 29% to $171 million, working out to 16 cents a share up from 13 cents a year ago. earnings excluding some items were actually 19 cents a share and that is exactly in line with what the average estimate of analysts polled by thompson were expecting. the move after hours shows you adding just about a dollar on the stock there. the sales for the record were up 41% to $1.1 billion. that was better than expected. ahead of the earnings report, shares of genentech fell just about 1.5% today. they gained more than 40% over the past 12 months. also today two more software companies missing their earnings forecasts. siebel systems says its second quarter sales missed an earlier forecast, saying they totaled $301 million compared to an earlier prediction of $340 million to $365 million so $301 million down from a range of $340 million to $365 million. siebel says customers delayed purchasing. that was why revenue came in light. bmc software announced fiscal first quarter sales rose less than the company expected. sales for that quarter rose to $318 million to $328 million down from a forecast of $345 million to $355 million. excuse me, folks. let me be clear. the company is blaming delays in u.s. customer orders. so two delayed customer orders affecting software companies in extended hours. the nasdaq managed a .2% gain snapping three days of decline. bob bowdon has details of the day’s trade with this report.
>> nasdaq investors just did not want a fourth down session as the nasdaq finished higher though off its session highs. one example people soft. this had been down five sessions in a row and had pretty negative earnings. it said 13 cents compared to the 21-cent analysts’ expectation and the c.e.o. said the adverse impact of the oracle takeover to his business has been substantial. yet investors saw that bad news as good news and the stock ended up rising up 1.8% after early in the day having been down over 8%. moving on, dollar tree was a stock up on the day up 3.6%. the company reaffirmed its second quarter sales forecast in a range of $700 million to $715 million. that’s better than last year’s figure from the same quarter of $626 million and checking some other discount retailers that are traded on the nasdaq also costco stores and fred’s stores stocks up between 1% and 2%. moving on, one group that was lower on the day, clearly chinese internet stocks were lower, led by netees, a stock down 12% on the day. it’s one of china’s third biggest u.s. listed internet companies. the company said second quarter revenue would fail to meet expectations only $24.28 million analysts looking for 27 million. sina and sohu down in sympathy with the netease news. night trading down for the second consecutive session. this company said second quarter earnings would only be six to 11 cents a share. analysts looking for 15. it announced an agreement to settle that employees traded ahead of customer orders. i want to leave you with international speedway that stock up 1% hitting a four-year high on the day it owns the daytona motor speedway and it said earnings excluding items would be 35 cents ahead of the 33-cent expectation. back to you in the studio.
>> and, folks, we will be back shortly.
