Paul Kangas' Stocks in the News
Wednesday, April 05, 2006
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JEFF YASTINE: On Wall Street today, technology stocks led the way higher as the NASDAQ closed at another five-year high. Early in the day the Dow came in for a round of selling, as higher oil prices weighed on industrial stocks. But the averages, especially the NASDAQ, got a second wind around noontime. Apple Computer shares and many of the chip manufacturers led the index higher. So the Dow closing up 35.7 points to 11,239.55 and the NASDAQ Composite rising almost 14 1/2 points to 2359.75. The S&P 500 gaining 5.63 to 1311.56 and the S&P finishing about one point from a five- year high. Treasuries posted modest gains. The 10-year rising 5/32 to 97 9/32, the yield at 4.85 percent.
First we have Lucent Tech (LU) rising $0.13.
St. Jude Medical (STJ) dropping a little over $5. This is a profit warning as St. Jude said its first quarter earnings and sales would fall short of estimates. St. Jude could not explain the shortfall. Analysts say it`s not losing market share. Instead, they fault public perceptions about heart implants after some highly publicized product recalls at Guidant.
Tenet Healthcare (THC) gaining $1.12. Tenet Healthcare bolting much higher. A Federal judge declaring a mistrial in the government`s case against the company over an alleged kickback scheme. It was the second time that a jury in the case could not reach a verdict.
Ford Motor Co (F) dropping $0.11.
General Motors (GM) gaining $0.32.
And then we see Time Warner (TWX) with a fractional gain.
And then Boston Scientific (BSX) dropping $0.45.
Nortel Networks (NT) losing $0.08.
Medtronic (MDT) down in sympathy with that St. Jude news, losing $0.82.
And then General Electric (GE) dropping $0.28.
Now we have JPMorgan Chase (JPM) rising $0.27. Government regulators signing off on the company`s purchase of credit card operations from the Kohl`s retail chain. They have over 13 million credit card holders.
And we have Monsanto (MON) falling $0.67. The ag giant posting an 18 percent jump in quarterly profits. That`s thanks to a popping sale of corn seeds and earnings in the quarter were $0.08 above estimates.
Newmont Mining (NEM) rising $1.48. CS First Boston jumped on board the gold bandwagon, raising its profit outlook on the company. Gold was slightly higher today. Zinc and copper prices rose to new record highs in London.
Shares in USG Corp (USG) jumping over $9. One analyst says the pricing for wallboard, sheetrock, will remain strong this year and raised his price target on the stock and the company still operating under Chapter 11 bankruptcy because of asbestos liability claims, but its shares have risen more than 2000 percent in just three years.
Shares in Sybron Dental Specialties (SYD) jumping $1.93. A "buy" recommendation from Bank of America.
And another one, Genuine Parts (GPC) gaining over $2. That`s on a JPMorgan upgrade.
Standard Pacific (SPF) surging over $2. The home builders all doing nicely today and this one has been added to the prestigious "Fortune" 500 list of companies because of its impressive growth rate in recent years.
And then we have Dow Jones & Co (DJ) falling $1.26. Merrill Lynch downgrading that one on worries of slowing ad revenues.
Onto the NASDAQ where Google (GOOG) continued its upward trek, rising over $3.
Apple Computer (AAPL) with a $6 gain. As you heard, Apple with a software patch allowing Windows XP to be used on its newer Intel-based Macintosh computers.
Then there`s Intel (INTC) gaining $0.18.
Sandisk (SNDK) jumping more than $5.50. It`s going to team up with Toshiba to build a new chip plant in Japan.
Microsoft (MSFT) gaining a dime.
Oracle (ORCL) with a similar gain.
And then Amgen (AMGN) jumping $0.84.
Cisco Systems (CSCO) up $0.13.
Broadcom (BRCM) gaining $1.65.
Ebay (EBAY) down not quite $1.
Visicu (TICU) soaring nearly $9. This is a new issue, the stock gaining sharply. It sold six million shares priced at $11 to $13, has remote monitoring systems aimed at hospital intensive care units.
Then we have Career Education (CECO) up over $5. The SEC expected to drop its investigation regarding alleged securities law violations.
Then finally Richardson Electronics (RELL) tumbled nearly $2. The company discovered some accounting errors from a foreign subsidiary and it will have to restate financial statements going back to 2003. It also fired its president and chief operating officer.
Those are our stocks in the news tonight.
