| The KUIK Morning Market Report for Wednesday, October 17: | |||||||
| Markets are mixed this morning. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (7) | points | 13,546 | 7:56 AM | ||
| S&P500 | Up | 0.3% | percent | 1,460 | 4.76 | points | |
| Nasdaq Composite | Up | 0.1% | percent | 3,105 | 4.17 | points | |
| 30 Year Treasury | Up | 7 | Basis Points | 2.98 | Annual Yield | ||
| Bloomberg reported that Nike ended its contract with Lance Armstrong a week after the U.S. Anti-Doping Agency detailed his alleged use of performance-enhancing drugs. Armstrong, who survived testicular cancer that spread to his lungs and brain, said in a separate statement today that he would step down as chairman of the Livestrong foundation. Nike said in a statement on its website it would continue to support Livestrong initiatives to help people affected by cancer. | |||||||
| Intel is down 2.3% to $21.84. It reported 3rd quarter results after the close yesterday. It reported adjusted profit of 60 cents a share, on revenue of $13.46 billion. Analysts were expecting Intel profit of 50 cents a share on revenue of 13.2 billion. CFO Stacey Smith said the company was in the process of scaling back its manufacturing output, which would result in a charge of about $500 million against fourth-quarter profit. The company has not taken that sort of “underutilization charge” since the fourth quarter of 2008, at the start of the financial crisis. Intel’s profit is being crimped by expenses to slow factory output and combat rising inventories. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.bloomberg.com/news/2012-10-17/nike-ends-contract-with-lance-armstrong-amid-doping-allegations.html | |||||||
| http://www.marketwatch.com/story/intel-hit-by-weak-pcs-scaling-back-output-2012-10-16 | |||||||
| For today’s Morning Market Report click to listen-> | https://beaconrwa.com/audio/Morning-Market-Report.mp3 | ||||||
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