Both are Dow stocks. The printer maker advanced another 85 cents in extended-hours trading, after announcing that earnings for its fiscal second quarter beat analysts' reduced expectations by 3 cents a share. The mega retailer said Tuesday that it doesn't expect double-digit growth to return until the second half of 2001. Other stocks managed to move higher despite the latest evidence that their business has suffered as the economy has slowed down. Even as companies announce layoffs and trim operations, Pradilla said the economy does have some brighter spots.
Housing is still very strong.
We are seeing some strong auto sales. This is not an economy that is in a rout, and we are going to see some positive things from what the Fed is doing. Advancing issues outnumbered decliners 2 to 1 on the New York Stock Exchange, where volume came to 1.35 billion shares, up from 1.04 billion on Tuesday. The Russell 2000 index, the barometer of smaller companies, advanced 7.58 to 497.21. Overseas markets were mixed Wednesday.