TradingMarkets mid-day movers

Stocks pull back as GDP comes in lower than expected.  Crude oil futures trade lower by 0.3% at $60.17.

Thursday's market action created new 10 day intraday highs as well as advancers beating decliners by 2-1 on both the S&P 500 Index and Nasdaq Composite (explanations below), which are bearish signals. It will be interesting to see if we get more bearish signals today and through next week (click here for more info).

Stocks on the Move

Microsoft (MSFT | Quote | Chart | News | PowerRating) Q1 Earnings Rise, Top Estimates; Guides Q2 Revenue Below Consensus (full story).  MSFT shares rise by over 1%.

Sun Microsystems (SUNW | Quote | Chart | News | PowerRating) Q1 Loss Narrows On Strong Revenue Growth (full story).  SUNW shares are trading higher by 3%.

Chevron (CVX | Quote | Chart | News | PowerRating) Q3 Profit Surges 40%, EPS Tops Analysts' View (full story).  CVX shares move higher by 1%.

Diamond Offshore (DO | Quote | Chart | News | PowerRating) Q3 Profit Doubles (full story).  DO shares trade fractionally higher.

Constellation Energy (CEG | Quote | Chart | News | PowerRating) Q3 Profit Surges On Higher Gains, Top Line Growth; Lifts FY06 Adj. EPS Outlook; Reaffirms FY07, FY08 View (full story).  CEG shares are down by nearly 1%.

Baker Hughes (BHI | Quote | Chart | News | PowerRating) Q3 Profit Surges; EPS From Cont. Ops. Tops Consensus By A Penny; Revenue Climbs 29%; Lifts FY06 Forecast (full story).  BHI shares fall 4%.

NYSE Group (NYX | Quote | Chart | News | PowerRating) Q3 Profit Soars On Transaction Revenues (full story).  NYX shares rise by nearly 1%.

For more stories as they happen, go to our Breaking News section.

Use our most popular trading tool to find out how your stocks will move in the next 5 days.

10 Day High Alert- This is an alert that the market has hit a 10 day new high intra-day today. Historically this has meant that when the market is above its 200 day ma, little progress has been seen over the next 2-5 days (on average) as the market is either overbought or nearing overbought conditions. It's a good place to be taking profits. When the market is below its 200 day ma and the market hits a new 10 day high, it has been, on average, a good place to be looking to put on short positions.

Adv. Issues > Dec. Issues 3 Days In A Row- Too many stocks rising in one day or over multiple days usually precede a market that will be quiet or drop. Too many stocks declining in one day or over multiple days usually precede a market rally, especially when the market is above its 200 day ma.