Paul Kangas' Stocks In The News
Friday, October 27, 2006
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PAUL KANGAS: Wall Street opened broadly lower on that GDP reading and some profit taking. After an hour of trading, the Dow was off 51 points and the NASDAQ down eight. The market trimmed its losses by mid-day, but headed south again on those higher oil prices and a negative outlook from Goldman Sachs for chip sales. The Dow Industrial Average closed down 73.40 at 12,090.26 today. This week, it fell only once and gained 87.89 points overall. The NASDAQ lost 28.48 ending at 2,350.62 today. It fell twice and rose three times this week, had a net gain of 8.32 points. Standard & Poor's 500 fell 11.74, ending at 1,377.34 today. In the bond market, the 10-year note rose 12/32 to 101 18/32, putting the yield at 4.67 percent.
Big board volume leader on 18.2 million shares, Pfizer (PFE) down $0.06.
Followed by Sprint Nextel (S) with a $0.27 gain. It was up $1.18 yesterday on higher third quarter earnings.
General Electric (GE) $0.38 loss.
ExxonMobil (XOM) down $0.16.
Advanced Micro Devices (AMD) off $0.64 on that negative report on chip sales from Goldman Sachs.
Then we see Motorola (MOT) losing $0.42.
Followed by AT&T (T) with an $0.18 drop.
Corning (GLW) down $0.62.
Lucent Tech (LU) fell $0.04.
Home Depot (HD), tenth in volume, off $0.31 a share.
Alltel (AT) down $4.19. The rural (ph) wireless provider had third quarter earnings excluding items of $0.60. That was $0.04 below the Street estimate and the subscriber, the new subscriber rate was lower than expected for Alltel.0
Ingersol-Rand (IR), this is the industrial conglomerate, down $1.45. Third quarter earnings were a bit higher, $0.79 versus $0.75 last year, but the company is unsatisfied with that. Standard & Poor's also downgraded it from "strong buy" to just a "hold" rating.
Hartford Financial Services (HIG), the insurance firm, off $3.96. Third quarter earnings higher, $2.30, versus last year's $1.81 and a nickel better than the Street expected, but the CEO says 2007 earnings will be under pressure due to tough competition.
Rinker Group Ltd (RIN), this is the Australian cement and asphalt manufacturer. CEMEX of Mexico has offered $12.8 billion in a buyout bid and that's worth somewhere around $65 a share for Rinker.
W-H Energy Services (WHQ), the oil field services firm, third quarter earnings jumped to $1.02, $0.15 above the Wall Street estimate, nice move in the stock.
Georgia Gulf (GGC), the specialty chemical company, down nearly $5 a share. Third quarter earnings dropped to $0.66 from $0.82 a year ago and Citigroup downgraded it from "hold" to "sell" and so did Merrill Lynch.
McAfee (MFE) up $1.54 on higher third quarter earnings of $0.19 versus $0.13 a year ago. Revenues up 14 percent. RBC Capital brokerage upgraded it to "out perform."
Then we see Celestica (CLS) down $1.58. The Canadian circuit board maker had lower, had higher third quarter earnings of $0.18 versus last year's $0.12, but the company issued a weak fourth quarter outlook and that apparently what hurt the stock.
Orbital Sciences (ORB) down $2.29. The company has uncovered misdated stock options and it's going to have to restate several years of financial results.
Emulex (ELX) off $1.63. First quarter earnings dropped to $0.17 versus $0.19 a year ago. Revenues down 2 percent. AG Edwards downgraded it from "buy" to just a "hold."
And then Standard Register (SR) off $1.88, third quarter loss of $0.20 versus earnings last year. The Street was expecting $0.09 in earnings.
Google (GOOG) topped the active list, down $9.90 after a big gain over the last few days.
And Microsoft (MSFT) off a penny.
Intel (INTC) $0.67 loss, hurt by that Goldman Sachs chip report.
Apple Computer (AAPL) off $1.78.
Cisco Systems (CSCO) lost $0.47, fifth in dollar volume.
Red Hat (RHAT) moving up $0.80.
Oracle (ORCL) a $0.62 loss.
Yahoo! (YHOO) up $0.06.
Sun Micro (SUNW) a $0.14 gain.
And Akamai Tech (AKAM) fell $3.38 despite higher third quarter earnings of $0.24, versus $0.14.
Then we see Vertex Pharmaceuticals (VRTX) up $6.09. The company's experimental hepatitis C drug is showing promise.
And then Intuitive Surgical (ISRG) tumbling $11.48. Jeffries brokerage downgraded it from "buy" to "hold" and cut its target to only $100 a share.
Those are the stocks in the news tonight.
