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4:14 PM, Jul 14, 2009 --

  • NYSE up 44.2 (0.7%) to 5,805.58.
  • DJIA up 27.8 (0.3%) to 8,359.
  • S&P 500 up 4.78 (0.5%) to 905.84.
  • Nasdaq up 6.52 (0.4%) to 1,800.


GLOBAL SENTIMENT

  • Hang Seng up 3.66%
  • Nikkei up 2.34%
  • FTSE up 0.85%


DOWNSIDE MOVERS

(-) GS has bobbed on either side of even after earnings beat.

(-) DELL said late Monday it expects slight sequential increase in revs.

(-) OSCI files for Ch. 11.

(-) HNT says not picked for TRICARE contract.

(-) TTWO seeing continued reaction to earnings warning issued late Monday.

(-) DARA loses upside following report on promising pre-trial diabetes drug test

UPSIDE MOVERS

(+) NVLS post gains despite reported loss last evening.

(+) JAVA warns for Q4.

(+) CPST says products eligible for government-funded reimbursement.

(+) CNB to sell Nevada branches.

(+) PRU gets analyst upgrade.

(+) HITK beats with results.

(+) JNJ tops with Q2 results and backs FY guidance.

(+) CIT saw continued upside response to media report that bailout may stave off bankruptcy.

(+) SQNM saw continued upside reaction to favorable study results.

MARKET DIRECTION

Stocks finish with mild gains, in the upper end of the day's range after a seesaw session. Wall Street showed mixed reaction to mostly upbeat results from Goldman Sachs (NYSE:GS) and a beat, though with weaker results than a year earlier, from Johnson & Johnson (NYSE:JNJ).

Bellwether Intel (NASDAQ:INTC) is due with its results after the bell. Analysts polled by Thomson Reuters are forecasting the chip-maker to come in with a profit of $0.08 per share on revenue of $7.28 billion.

Stocks were tossed around in a seesaw session as investors searched for direction from earnings reports and mixed economic reports on wholesale prices, consumer spending and retail sales for June.

Retail sales posted their largest gain in five months in June, but much of that came from higher gas prices, which could become a worry over the long term. Also troubling was a separate government report showing wholesale prices rising more than expected in June and by the most since November 2007, also due partly to higher energy prices.

The 1.8% jump in the producer price index topped the 0.9% gain economists had expected. That sent Treasury yields higher on worries about inflation.

Consumer-products maker Johnson & Johnson's (JNJ) earnings report said profit fell 3.5%, but still handily topped analysts' estimates.

Dell (NASDAQ:DELL) gave a pessimistic view of the personal computer market this morning, causing its shares to tumble and weigh on the tech sector. Dell said the domestic personal computer market had reached its low point but could not offer any guidance on the industry's global turnaround.

Sun Microsystems (JAVA) says it expects Q4 sales between $2.580 to $2.680 billion, below the Thomson Reuters average of $3.03057 billion. Non-GAAP EPS loss is seen between $0.06 and $0.16, worse than the average for a penny loss. Sun is in a deal to be acquired by Oracle (NYSE:ORCL).

Source: Closing Update for Tuesday, July 14