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Market Update Analysis: 
Lower Trade deficit and Lower Oil
Author: 123jump.com Staff
123jump.com
Last Update: 6:50 PM ET July 13 2005


(Continued)

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The May trade deficit is though lower than April deficit but the annual deficit is still likely to top $700 billion. Apple reported 2Q earnings of 37 cents vs. 8 cents a year ago and expected 31 cents. AMD reports 2Q profit drop of 66% to 3 cents vs. 9 cents a year ago but tops the estimates of loss. YUM Brands reported 2Q earnings of 62 cents vs. 58 cents a year ago on 5% same-store U.S. sales.

 
International Electronics, electronic access control product maker, reported 3Q net loss of 8 cents per share down from a loss of 18 cents a share a year ago on 13% sales growth.

Party City, retailer of party supplies, posted decline in 4Q same-store sales of 0.8% citing weak demand for seasonal merchandise.

Winmark Corporation, financial services provider, reported 2Q net income fall of $08 per share compared with $11 per share last year.

Rocky Mountain Chocolate Factory, confectionery products maker, announced 1Q profit growth of 11 cents a share vs. 9 cents a year earlier on improved sales. Same-store sales rose 4.1%. The company backed its full-year outlook.

Resources Global Professional, business consulting firm, posted 4Q net income rise to 31 cents a share, up from 22 cents a year ago reflecting 40% jump in sales. The quarterly profit exceeded expectations of 22 cents a share.

Innoves, manufacturer of flexible circuits, reported 3Q narrower net loss of 13 cents per share compared with 88 cents last year on sales growth and strong demand for flat-panel display products. Analysts had expected a wider loss of 14 cents a share.

FRANKLIN COVEY CO, provider of professional leadership and training services, posted a narrowed loss of 34 cents a share against a loss of 37 cents in the comparable period last year.

Century Bancorop A, reported 2Q profit fall of 37 cents per share compared with 43 cents a year ago on higher operating expenses.

AMB Property Corporation, global developer and owner of industrial real estate, posted 2Q earnings rise of 45 cents a share vs. 20 cents a year ago on development and contribution gains. The quarterly results exceeded previous company’s guidance of earnings from 30 to 33 cents a share
BANK OF THE OZARKS, reported 2Q profit increase of 46 cents a share compared with 38 cents last year on record interest income and service charges.


OTHER NEWS

Mexican stocks traded sideways ahead of the earnings report for the second quarter in the coming weeks. Investors are generally expecting a strong reporting season and looking better results from construction, home builders, retail, and media sectors. The Mexican currency Peso is trading at a 2-year high to a dollar at 10.689.

Brazilian stocks traded up 1.47% on strong retail report for the month of May. Shares of Telemar, CVRD, and Usiminas traded higher by 1.2%, 0.9% and 5.2%. The retail report showed strength in sales for electronics and auto but decline in sales from April for consumer non-durables, food and beverages.
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