Paul Kangas' Stocks In The News
Friday, March 03, 2006
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PAUL KANGAS: Wall Street opened modestly lower on that news from both Intel and Dana. The Dow fell 25 points at the outset of trading, NASDAQ lost 10. That rather mild early sell-off encouraged a midday rally which lifted the Dow to over a 60 point gain. But late in the day, sellers sold into that strength ahead of the weekend. So the Dow ended with a loss of 3.92 at 11,021.59. This week, the Dow rose twice, fell three times, had a net loss of 40 1/4 points. The NASDAQ Composite closed down 8.51 at 2302.60 today. For the week it also rose twice, fell three times, but it gained
15.56 points overall. Standard & Poor`s 500 down 1.91 ending at 1287.23 today. In the bond market, the 10-year note fell 13/32 to 98 17/32, lifting the yield at 4.69 percent.
New York exchange volume leader on nearly 21 million shares was Pfizer (PFE) edging up $0.15. Pfizer today, of course that`s the maker of Listerine mouthwash, sued Procter & Gamble, claiming the consumer products company made false claims about its rival brand Crest Pro-Health mouthwash. P&G falsely tells consumers that four of five dentists recommend Crest Pro- Health. That`s a claim Pfizer says is unsubstantiated in that lawsuit.
Lucent Tech (LU) gained a nickel.
Nortel Networks (NT) $0.11 rise.
Ford Motor Co (F) down $0.09.
Advanced Micro Devices (AMD) losing $1.82 and of course, that`s in sympathy with rival Intel`s cut in its first quarter revenue guidance.
General Electric (GE) was up $0.21.
Vodafone Group (VOD) gained $1.32. There`s speculation the company may sell a controlling interest of its Japanese unit to SoftBanc and get over $8.6 billion for it.
Genworth Financial (GNW) a $0.20 gainer.
EMC Corp (EMC) dropped $0.08.
And there you see AK Steel Holdings (AKS) up $2.65 reportedly on the US Steel acquisition talks. One analyst thinks AK could fetch around $18 a share. Big steel incidentally edged up $0.38 a share today.
Wendy`s Intl (WEN) up $2.10. Billionaire investor Nelson Peltz pressured the company into expanding its board from 12 to 15 directors. The company also expects to complete the IPO of its Tim Horton`s unit and to explore alternatives for its Baja fresh Mexican restaurant business.
Interestingly enough, Nelson Peltz is also attempting to shake up the management of HJ Heinz Co (HNZ), interesting.
Verifone Holdings (PAY) up $2.03. First quarter earnings doubled from last year, $0.20 versus $0.10 then. Revenues up a very respectable 21 percent.
Rogers Corp (ROG) up $3.83. Preliminary earnings the company said for the fourth quarter will be $0.67 up from $0.56 and sales will be up about 11 percent.
Global Signal (GSL) down $1.69. The company reported a fourth quarter loss of $0.27 versus earnings of $0.08 last year. The Street thought the loss would only be about $0.17, not $0.27.
Laidlaw Intl (LI) fell $1.44. Oppenheimer downgraded the stock from "buy" to just a "neutral" rating.
Dillard`s Department Stores (DDS) edged up $0.35, traded as high as $25.69. Fourth quarter earnings were a touch lower, $1.24 versus $1.30 last year, but the Street was only looking for $0.87, so much better than expected.
American Reprographics co (ARP) was up $2.64. This company`s in the document management services business. Fourth quarter earnings higher, $0.19 versus a $0.11 last year. Revenues up 16 percent. Standard & Poor`s upgraded it from "hold" to a "buy."
Google (GOOG) topped the NASDAQ active list with a gain of $1.73.
Then Intel (INTC) down $0.17 on that cut in earnings or earnings and revenue guidance.
Apple Computer (AAPL) down $1.89.
Cisco Systems (CSCO) edged up $0.16.
Microsoft (MSFT) a $0.04 loss there. That was fifth in dollar volume.
Broadcom (BRCM) fell $0.21.
Followed by Yahoo! (YHOO) $0.25 loss there.
Oracle (ORCL) edged down $0.01.
And JDS Uniphase (JDSU) a $0.22 gainer.
Dell Inc (DELL) down $0.43, tenth in volume.
Finisar (FNSR), this is a company in the optical parts business. Third quarter earnings of $0.03 versus a loss of $0.15 a share last year. Revenues jumped 28 percent and Needham Securities upgraded the stock from "buy" to a "strong buy."
On the downside, Novell (NOVL) fell $1.63. That`s a 17 percent drop. Fourth quarter earnings $0.04, up from $0.03 last year, but revenues dropped 5 1/2 percent. The company sees second quarter earnings at only $0.02 to $0.03. The Street has been looking for $0.04 in earnings, so that big drop in the stock today.
Those are the stocks in the news tonight.
