Schaeffer's S&P 500 Index Hot Stocks Provide Insights on Market Trends

Strategic Insights -

On May 4, 2005, the S&P 500 Index Hot Stocks list featured Ford Motor, Aon, MetLife, Electronic Arts, and Symbol Technologies as top-performing stocks in the S&P 500 Index. Schaeffer's S&P 500 Index Hot Stocks is a daily feature available on SchaeffersResearch.com, providing a list of the day's top-20 and bottom-20 performing stocks in the S&P 500 Index. This article will delve into the market trends and insights provided by Schaeffer's S&P 500 Index Hot Stocks on that day.

Key Takeaways:

  • General Motors (GM) was leading the charge to higher ground due to a cash tender offer from Tracinda Corp., which would net the firm 8.8% of GM's shares, up from 3.9%.
  • Ford Motor (F) tacked on 8% in trading, while Dana Corp. was up approximately 6% due to GM's news.
  • Aon (AOC) reported stellar earnings, with an 18% increase in net income to $200 million, or 59 cents per share, beating the street forecast for 46 cents per share.
  • MetLife (MET) announced first-quarter earnings of $1.33 per share on sales of $10.29 billion, surpassing the street estimate of 86 cents per share.
  • Symbol Technologies (SBL) reported first-quarter earnings of $22.2 million, or nine cents per share, on sales of $457.5 million, although missing the street forecast for 11 cents per share on sales of $465 million.
  • Electronic Arts (ERTS) saw earnings plunge 91% in the fourth quarter to $8 million, or two cents per share, compared to a profit of 29 cents per share for the same period a year ago.

Statistics:

  • The S&P 500 Index (SPX) was up nearly 11 points, or 0.94%, in trading that afternoon.
  • 87% of the S&P 500 Index components were in positive territory.
  • The S&P 500 Index had soared above its 20-day moving average and was poised to close above it for the first time since April 12.

Sources:

  • Schaeffer's S&P 500 Index Hot Stocks, May 4, 2005
  • Forbes
  • Barron's
  • SchaeffersResearch.com
  • Bernieschaeffer.com
  • Aon website (reported earnings)
  • MetLife website (reported earnings)
  • Electronic Arts website (reported earnings)
  • Symbol Technologies website (reported earnings)