Paul Kangas' Stocks In The News
Monday, June 19, 2006
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PAUL KANGAS: Wall Street`s blue chips opened slightly higher on analyst upgrades for Procter & Gamble and Intel. But weak energy and utility stocks had a greater impact as the Dow slumped to a 25 point loss by noon, with the NASDAQ off eight. Warnings about inflation and slowing growth from two Federal Reserve bank officials sent things heading downward this afternoon. By 3:00 p.m. the Dow was off 105 points. But the blue chips cut their closing loss to 72.44 points at 10,942.11. The NASDAQ lost 19.53 ending at 2110.42. Standard & Poor`s 500 Index down 11.40 at 1240.14. Over in the bond market, the 10-year note fell 2/32 to 99 28/32 putting the yield at 5.14 percent.
Carmax (KMX) 2006 earnings will come in at the high end of its previous estimate of $1.25 to $1.47 per share.
Ashland (ASH) up $2.88. The company`s exploring possible spin off or sale of its wholly owned Ashland paving and construction unit.
And then we see Symmetry Medical (SMA) a gain of $3.36. The company sees lower second quarter earnings and as expected Wachovia downgraded the stock from "out perform" to just a "market perform" rating.
Willbros Group (WG), this is a construction engineering firm, had a first quarter loss of $0.22, not as bad as last year`s $0.47, but the Street was only looking for a $0.03 loss and the company had a disappointing backlog to boot.
Circuit City (CC) down $0.85 even though it had first quarter earnings of $0.04 versus a loss of $0.07 last year. Same store sales up 15 percent thanks to the heavy sales of flat panel TV screens.
Microsoft (MSFT) topped the active list, up $0.45 on NASDAQ.
Google (GOOG) down $2.56.
Apple Computer (AAPL) down $0.36.
Then we see Intel (INTC) rising or falling $0.06 even though UBS upgraded it from "neutral" to "buy" and boosted its target price from $21 to $23 a share.
Sepracor (SEPR) up $4.63 on speculation according to the analyst we talked to that the company may get a buyout bid.
Cisco Systems (CSCO) $0.16 loss.
$0.56 drop in Qualcomm (QCOM).
Amgen (AMGN) was down $1.07.
Dell (DELL) a $0.06 loss.
And then Oracle (ORCL) up $0.10, tenth in volume. Then finally Novacea (NOVC) up $2.23. Pacific North equity began covering the stock with a "buy." It just went public May 9th at $6.50.
Those are the stocks in the news tonight.
