Monday, April 21, 2008

Pretrading stocks pull back

Pretrading stocks pulled back a little. Bank of America (BAT), a Dow stock, reported lower earnings in Q1, down 77% from last year. EPS was 23¢ far below 41¢ analysts estimate but the stock was little changed in pretrading. Merck (MRK), another Dow stock, reported good earnings, 89¢ (after a special gain) compared with analysts estimate of 86¢. Their stock was up 21¢ in pretrading & MRK reaffirmed it's 2008 EPS guidance for 3.28-3.38. Meanwhile supply problems for oil in the Middle East & Nigeria sent the price up to 117. This could be a wild day in trading, be prepared.

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