The Dow Gains 5 Points, Nasdaq Fell 5

April 19, 2007 5:43 PM EDT

The Dow gained 4.79 points to close at 12808.63, the Nasdaq fell 5.15 points to close at 2,505.35, and the S&P 500 fell 1.77 points to close at 1,470.73. The Dow traded to another all-time high, however the markets traded mostly flat for the session. Oil fell $1.30 to close at $61.83.

Volume was modest with 3.05 billion shares trading on the NYSE and 2.16 billion trading on the Nasdaq. Decliners topped Advancers by a margin of 20:12 on the NYSE and 19:11 on the Nasdaq.

In individual stories, Labor Ready (NYSE: LRW) finished 19% higher after reporting Q1 EPS of $0.21, 5 cents better than estimates.(0.16) Revenues were $290 million vs. $281.3 million consensus. Sees Q2 EPS of $0.33-$0.35, versus the consensus of $0.31. Sees FY EPS of $1.40-$1.45, versus the consensus of $1.24. Also announces new $100 million stock buyback. Avici Systems Inc. (Nasdaq: AVCI) fell 28.7% after reporting Q1 EPS of $0.42, versus the consensus of $0.07. Revenues came in at $20.5 million versus the consensus of $13.1 million. Declares special $2/share dividend. Avici announced that it will be transitioning away from core router development to focus on its new product initiative, Soapstone Networks. The company said that the routing market is under tremendous pressure from alternative technologies such as Ethernet switching and we do not believe our focus on core routers and our position as the number three supplier in this market to be a sustainable growth business for the company.

Tomorrow, investors will be looking for earnings from Caterpillar (NYSE: CAT), Honeywell (NYSE: HON), Johnson Controls (NYSE: JCI), Manpower (NYSE: MAN), McDonald's (NYSE: MCD), Pfizer (NYSE: PFE), Schlumberger (NYSE: SLB) and Xerox (NYSE: XRX).

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