Thursday, January 22, 2009

The Kirk Report

The Kirk Report

More Earnings & Data

Posted: 22 Jan 2009 08:30 AM CST

Good morning. Premarket futures are under pressure again as investors sort through a lot of earnings reports. The highlight, of course, is better-than-expected earnings from Apple but there were lots of earnings misses and poor guidance.

Not helping matters this morning is news that mortgage applications fell 9.8% from a week ago as the average interest rate on 30-year fixed-rate mortgages increased to 5.24% from 4.89%, housing starts dropped -15.5%, and jobless claims rose 62,000 to 589,000.

Premarket gainers: IWOV, VIGN, THC, BBT, AAPL, CHIC, ESI, FFIV, STEM, ALXN, NWSA, LYG, AIB, RJF, ZLC, NVEC, FITBP, CGRB, CMCO, THC, LUV, BRKR, NITE, HW, MBI, SOLR, BBT, & BRKL.

Premarket losers: ECLP, HBAN, DOX, BPOP, EMITF, CERN, NOK, EBAY, TDY, DRYS, PALM, ASML, POOL, TBSI, BT, CY, CIT, SANM, AMR, FNM, AEG, SNE, STI, SBIB, NOK, CBS, MAXY, & OPTR.

We have the weekly oil inventory data at 10:30 and after the close investors will be watching Google (GOOG), Microsoft (MSFT), & Intuitive Surgical (ISRG) among many others.

As I said last Friday, four-day work weeks tend to be very challenging and this one is proving that out once again. The key for today will simply be to not roll over again and give back more than 50% of yesterday's gains. Have a good one!

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