Paul Kangas' Stocks in the News
Monday, January 23, 2006
|
|
|
|
JEFF YASTINE: Investors were hoping to reduce losses in the broader markets today, as the major indexes managed to tread water following the Dow`s 200-point loss on Friday. The Dow ran about 60 points higher in the early going. Ford`s restructuring announcement helped add support to Dow components like General Motors, which jumped nearly 9 percent. The NASDAQ attracted its share of buyers, with its shares of Google and Yahoo! rising sharply after the NASDAQ`s nearly 50-point loss on Friday. So the Dow finishes the day, rising 21 points to 10,688 and the NASDAQ Composite rising a fraction to 2248 1/2 and the S&P 500 advancing 2 points to 1263. In the bond market, little reaction to the Conference Board`s December index of leading economic indicators, which is suggesting growth in the first part of this year, but a slowing in the second half. So the 10-year note dipping 3/32 to 101 3/32, the yield at 4.36 percent.
And as we told you at the top of the program, there`s the reaction in Ford Motor Co (F) rising $0.42. Investors taking the auto maker`s new restructuring plan out for a test drive.
General Electric (GE) slipping $0.08.
And there` Albertson`s (ABS) reaction, up $1.31, a positive reaction to the grocery chain`s agreement to be bought out by CVS and Supervalu.
General Motors (GM) gaining $1.80. That`s up in sympathy with Ford`s restructuring announcement and helped the Dow today.
Pfizer (PFE) picking up $0.18.
Then we look at Bank of America (BAC) falling $0.23. As you heard a moment ago, the banking giant`s profits hurt by a surge in bankruptcy filings ahead of stricter rules which went into effect back in October. Excluding items, earnings came in at $0.94 a share. That was $0.08 below Street estimates.
Motorola (MOT) falling $0.31.
Time Warner (TWX) gaining a fraction.
Lucent Technology (LU) losing a nickel.
And Citigroup (C) rising $0.31.
Now here`s another earnings disappointment in technology, Texas Instruments (TXN), profits in the fourth quarter grew by 14 percent to $0.40 a share, but that was $0.02 below analyst estimates. Sales also fell shy of Wall Street projections and that stock down over $1 in after hours trading.
American Express (AXP) picking up $0.04. The Dow component reported a 17 percent drop in fourth quarter profits. Earnings fell to $0.59 a share from $0.71 a share in the year ago period.
Disney (DIS) dropped $0.20. It`s trying to sell the assets of ABC Radio. Citadel broadcasting is reportedly emerged as the lead bidder for between 2 1/2 to $3 billion.
Shares in Remington Oil & Gas (REM) gushing to an all-time high, rising nearly $7. It will be acquired by Cal-Dive International for cash and stock worth just under $1.5 billion. That deal works out to a little over $45 a share.
Investors scoring big with Sports Authority (TSA). The stock jumped nearly $6. That chain getting a buyout offer from senior executives and a private equity firm Leonard Green & Partners. The group is offering shareholders 37 1/4 share in cash for control of the retailer.
Energizer Holdings (ENR) raking in stronger than expected profits, rising over 4 -- $5 rather. First quarter profits weighing in at $1.77 a share. That was $0.16 above analyst estimates.
And on the downside, KB Home (KBH) falling $1.75. An analyst at J&P Securities cutting earnings targets on the home builder because of fears about a slowdown in the U.S. home construction industry.
Now let`s look at the NASDAQ where Google (GOOG) rebounded over $28 from Friday`s $37 loss amid concerns about that subpoena from the Justice Department over a week`s worth of search data. An analyst at Piper Jaffray defended Google and repeated a $600 a share price target on the stock.
Intel (INTC) losing $0.41. In the last four trading sessions, that stock`s down about 15 percent since Intel announced those disappointing results last week.
Apple Computer (AAPL) up more than $1.50.
Microsoft (MSFT) losing a fraction.
Sandisk (SNDK) gaining more than $4.
Amgen (AMGN) falling $0.78. An analyst at AG Edwards noting Amgen`s anemia drug will soon have competition from the Swiss drug giant Roche which is seeking marketing approval here in the U.S.
Yahoo! (YHOO) jumping $0.43, but also a big loser through the past week`s worth of trading.
Cisco Systems (CSCO) losing $0.35.
eBay (EBAY) down $1.27.
And Dell (DELL) gaining $0.26.
Research in Motion (RIMM) sliding over $2. The U.S. Supreme Court refusing to hear the Canadian firm`s appeal as it fights its patent infringement case over its Blackberry technology with NTP.
And finally, on the American Exchange, shares in Sulphco (SUF) plunged over $9 after "Barron`s" wrote a negative article about the stock and that stock was just a $4 issue only about two months ago.
And those are our stocks in the news tonight.
