In early trading on Thursday, the market continued Wednesdayis strong performance as the major market indexes moved up from their opening levels. The market positively responded to good news that August orders for durable goods fell less than expected following a significant rise in July, and that August experienced a surprising jump in new home sales.
In afternoon trading the blue chip index continued to move higher, while the NASDAQ Composite Index fell into negative territory. However, NASDAQ advancing issues bested declining issues as the broad market continued moving higher following Wednesdayis substantial advance.
On Thursday the Dow Jones Industrial Average ended at 7,997.12, up 155.30. The S&P 500 Index was up 15.29 at 854.95. The NASDAQ Composite Index shed 0.68 to finish at 1,221.61. On Thursday Apple lost US$.23 to close at US$14.70.
Apple products continue to garner press and praise from unlikely sources. This time PC Magazine has granted Appleis iMac an Editorsi Choice award.
A review of popular PC Web sites and publications indicates that Apple products are gaining the attention of PC users and PC press. While all the talk might not be considered favorable, thereis no doubt that Appleis "switch" ads combined with the release of OS X 10.2 are being noticed and discussed in what might have previously been described as unusual places. For example, the Baltimore Sunis online edition features a critical look at the value and array of services available to .Mac subscribers.
In another sign of the times, a Seattle-based newspaper ran a favorable AP report on the Apple iPod for Windows. Questions concerning the early success of Appleis iPod for Windows will be on the minds of Wall Street analysts during their conference call with company executives following next monthis release of Appleis quarterly financial reports. Walt Mossberg of the Wall Street Journal also singles out the iPod for particular praise.
Meanwhile, Appleis balance sheet is fast becoming the envy of the industry. The Mac Observer offers an interesting look at one advisoris impression of Apple from a financial point of view.
The home video/DVD release of Monsteris Inc. set a release-day record with 5 million units shipped, beating out The Lion King as the top home release of a movie title in history. Earlier this week Pixar announced that shipments of Monsters, Inc. had passed 11 million copies, while supplies at some stores remain limited.
The success of Monsteris, Inc. while in theatrical release and the huge shipment of video/DVD units have helped Pixar shares stay near their 52-week high of US$51.69. Pixar closed Thursday at US$49.03, up US$2.33.
Pixar Animation was formed in 1986 when current Apple CEO Steve Jobs purchased the computer graphics division of LucasFilm, Ltd. for US$10 million. During the 80s and early 90s, Pixar developed and released a series of critically acclaimed short animated films. The company generated revenue in the early 90s from the creation of animated TV commercials and animated sequences for a variety of feature films. In 1995 Pixar went public and released "Toy Story," the first fully computerized feature animation film. Today, Pixar has a market value of over US$2.4 billion.