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Stock Market Update - Mon Apr 09 10:00:01 EDT 2007

Mon Apr 9, 2007 10:00am EDT

[BRIEFING.COM] The major averages still cling to paltry gains as recent reversals in Financials and Technology stall follow-through efforts. Thrifts & Mortgage is among today's worst performing S&P industry groups amid further evidence of troubles in the secondary mortgage market. American Home Mortgage Investment Corp (AHM 21.20 -4.64) cut its Q1 and full-year earnings guidance on Friday.

Tech has inched back above the flat line, as Intel (INTC 19.92 +0.34) catches a bid at the expense of a Q1 sales warning from rival Advanced Micro Devices (AMD 13.23 +0.37); but Sanmina-SCI Corp (SANM 3.64 -0.17) saying Q2 revenues will fall short of forecasts leaves investors less optimistic about the sector's growth prospects.

NYSE Adv/Dec 1468/1039...Nasdaq Adv/Dec 1256/1293


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