Paul Kangas' Stocks In The News
Wednesday, May 10, 2006
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PAUL KANGAS: Stocks on Wall Street spent the morning narrowly mixed as investors waited for the Fed`s decision on rates. The Dow managed single- digit gains early on, while the NASDAQ was off single digits on Cisco`s cautious outlook we told you about last night. A rise in oil prices which we`ll detail next had the Dow down 20 points when the Fed rate hike came, but after falling to about a 40-point loss, the blue chips came back to close a little bit higher. Dow Industrial Average gained 2.88 closing at 1162.65. The NASDAQ however lost 17 1/2 points to 2320.74. Standard & Poor`s 500 fell 2.29 points to 1322.85. Over in the bond market, the 10- year note held steady at 95 7/32 leaving the yield at 5.13 percent.
Most active big board issue trading 21 million shares was Ford Motor Co (F) down $0.11. US Trust, a unit of Charles Schwab has taken an 18.9 percent stake in Ford Motor.
Lucent Tech (LU) $0.02 gain.
Motorola (MOT) down $0.56.
UnitedHealth Group (UNH) up $2.37. The health providing group was rather strong today as enrollments of new Medicare prescription drug programs was very heavy.
Nortel Networks (NT) down a penny. That was fifth in big board volume.
Time Warner (TWX) was up $0.19.
Followed by Pfizer (PFE) with a $0.23.
Disney (DIS) up $0.53. After the close yesterday, as we reported, second quarter earnings for Disney, $0.37 a share, $0.06 better than the Street consensus.
General Motors (GM) up $1.04. Yesterday, Deutsche Bank upgraded it from "sell" to "hold" and GM itself said instead of a loss in the first quarter, it may have a profit.
General Electric (GE) tenth in volume, was down $0.30 a share.
Navistar Intl (NAV) up $2.68. The company expects 2006 earnings to top Wall Street estimates of $5.38 a share, a nice move in the stock.
Daimlerchrysler (DCX), there we see it, up $0.93. Today, Deutsche Bank upgraded it from "hold" to "buy" and as you heard, more employees coming on.
Aetna (AET) another firm health provider, up $1.56. FTN Midwest brokerage upgraded it from "neutral" to "buy."
Whirlpool (WHR) down $0.92. The company will cut 3,000 jobs overall as it consolidates its acquisition of Maytag. Legg Mason (LM), the big brokerage, down $8.46. First quarter earnings came in at $1.04 and that was $0.21 below the Street estimate.
Schawk (SGK) did just that to shareholders today, down $6.52. The company`s in the digital imaging business and reported a first quarter earnings of $0.20, down from $0.23 a year ago and $0.12 below the Street estimate. Sales dropped 4.4 percent. The Baird brokerage downgraded the stock from "outperform" to just a "neutral" rating.
Charles River Labs (CRL) down $7.26. The drug discovery firm had a first quarter loss of $1.40 a share, versus earnings of $0.40 last year and it sees 2006 loss of about $0.09 to $0.15.
On the upside, Bill Barrett Corp. (BBG), the oil and gas company, up $5.74. First quarter earnings $0.50, was up from $0.07 a year ago. Revenues up 88 percent and those earnings of $0.50 was $0.13 better than the Street estimate.
NASDAQ`s most active, Google (GOOG) down $5.82.
Followed by Cisco Systems (CSCO), $0.93 drop there on a rather cautious outlook.
Microsoft (MSFT) a $0.15 gainer.
Teva Pharmaceutical (TEVA) down $5.35. First quarter earnings for Teva, $0.37, a penny below last year`s level and $0.04 under the Street estimate. But if you include the acquisition charges for Ivax, the company actually posted a loss of $1.40 a share.
Baidu.com (BIDU), the Chinese Internet company up $22.60. First quarter earnings estimates shattered expectations and the company`s market share in China according to analysts is stronger on a relative basis than Google is in the U.S. Remember that stock just went public at $27 a share last August.
Apple Computer (AAPL) $0.43 drop.
Intel (INTC) down $0.32.
But Hansen Natural (HANS) up $24.82. The energy drink maker yesterday was up $24.02 on news of a distribution pact with Anheuser Busch. Today Goldman Sachs says fair market value of the stock is $230 a share.
Sandisk (SNDK) down $0.18. Ebay (EBAY), tenth in volume, was up $0.73.
Cubic (CUB), which trades on the American Exchange, down $3.86. Second quarter earnings came in at $0.03, up from $0.02 last year, but the Street was looking not for $0.03 in earnings, but $0.22 a share and hence the big drop in the stock.
Those are the stocks in the news tonight
