The Dow is coming off another record high as we get set to begin the trading day. The index ended yesterday's regular session at 15,783, a new all-time high. The S&P also flirted with record levels, closing at 1,771. How much higher could the indexes go? Could the Dow even break 16-thousand? Yahoo Finance Senior Columnist Mike Santoli has more in he video above.
Jury selection begins today in another trial pitting Apple (AAPL) against Samsung. This case will determine how much the South Korean powerhouse owes Apple for infringing on a number of patents. A California jury previously awarded Apple more than $1-billion. But the judge vacated almost half the award saying it was unclear how the jury came up with the number. By the way in other Apple news, the new iPad Mini goes on sale today. The device has a so-called retina display. The higher resolution screen is a first for the smaller tablet.
Google (GOOG) is making a number of headlines this morning: The company is expected to unveil a feature today for Google Glass which will allow users to find and listen to music through the eyewear; meanwhile, the Wall Street Journal reports that Google will introduce a low-cost phone called the Motorola G on Wednesday. Sales of its Motorola X have been weak; and finally, Google is going to allow the Nielsen ratings service to monitor viewership levels on YouTube for advertising purposes.
Extended Stay America will begin a new stay today on the NYSE. The hotel chain is now holding an initial public offering. The company symbol will be STAY. The chain previously traded under the symbol XTA before being taken private by Blackstone. It has since gone through bankruptcy and changed hands a number of times. Extended Stay currently has about 700 locations.
STOCKS TO WATCH
Dish Network (DISH) is up roughly 4% on its earnings. The satellite service provider released its report an hour ago. It made 68-cents a share blowing past estimates for 44-cents, and doubling profits from a year ago. Dish faces increased competition from streaming services like Netflix (NFLX) and Hulu. But it grew subscriptions by about 35,000 for the period. It has also adopted a strategy of catering to more affluent customers who are less likely to cancel their service. The stock hit a 52-week high about 3-weeks ago and is currently up 29% year-to-date.
Vodafone (VOD) is up fractionally on its earnings. The British telecom giant has reported a record fall in revenues. It says struggling European sales are to blame. Moving forward, the company plans to upgrade its infrastructure using the windfall of cash it got from selling its stake in Verizon Wireless. Vodafone hit a 52-week high back on Halloween and is currently up 41% year-to-date.
Potbelly (PBPB) is up ahead of its earnings which come out this afternoon. This will be the first earnings report for the sandwich chain since it went public on October 4th. Shares were initially offered at $14 and ended their first day just under $31. But since then the stock is down about 20%. Analysts expect Potbelly to report profits of 9-cents a share on nearly $78-million in sales.
Hologic (HOLX) is down sharply on its earnings which came out yesterday afternoon. This is a company which makes diagnostic tests for women. It beat on the bottom line with earnings per share of 39-cents when expectations were for 3-cents. However, sales came up a little short at $622-million and the company is lowering guidance for the current quarter. Prior to issuing its report, shares of Hologic had been up about 11% so far this year.