Paul Kangas' Stocks In The News
Tuesday, November 07, 2006
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PAUL KANGAS: Wall Street staged a solid morning rally as oil prices headed lower and Boeing buoyed the blue chips on a big order we'll tell you about shortly. At 1:00 p.m., the Dow posted an 86-point gain, a record intra-day high, while the NASDAQ Composite was up 24 points. As traders moved to the sidelines to await the election results, the market faded, but it still ended moderately higher. Dow Industrial Average closed up 51.22 at 12,156.77. NASDAQ Composite up 9.93 at 2375.88, while the Standard & Poor's 500 Index rose 3.06, ending at 1382.84. In the bond market, the 10- year note rose 9/32 to 101 21/32, putting the yield at 4.66 percent.
New York exchange volume leader on 23 1/2 million shares, Nortel Networks (NT) losing $0.26 or 11 percent of its value. The company came in with a third quarter loss of $0.02 a share, versus a loss of $0.03 last year. Revenues were up 17 percent and then the company declared a one for 10 reverse split.
Motorola (MOT) $0.91 loss.
Lucent tech (LU) moved up $0.04.
Pfizer (PFE)
a $0.30 gain.
Lowes Companies (LOW) closed up $0.51 despite a downgrade by UBS financial from "neutral" to "reduce." UBS did the same for Home Depot (HD), which closed up a penny, didn't have much impact today.
Sprint Nextel (S) $0.49 gain.
ExxonMobil (XOM) down $0.38.
General Electric (GE) $0.27 gain.
No change in Texas Instruments (TXN).
And Time Warner (TWX), tenth in volume, was down $0.15.
There you see Boeing Co (BA) doing very well, up $4.37. That gain boosted the Dow Industrial Average by 35 points and of course you heard about the big order they got from FedEx, whose stock incidentally rose $1.09 to $115.03 per share.
On the big gainer's list, Amrep Corp (AXR) up $6.19. The company's in the real estate business and it told the New York exchange, with regard to that big move in the stock, its policy is not to comment on unusual activity in its stock.
H&R Block (HRB) up $1.39. The company cut its 2007 guidance because of the near-term outlook for its mortgage operations, but it is mulling over the possible sale of that business. Meanwhile, Soleil Securities upgraded the stock from "sell" to a "buy."
SWS Group (SWS), this is the holding company for Southwest Securities, up $2.90, big earnings, first quarter, $0.57, up from $0.41 last year. Revenues up about 10 percent.
And then Emerson Electric (EMR) up $4.87. Fourth quarter results higher, $1.29 versus only $1.01 last year. You might say Emerson, good earnings. The company boosted its quarterly dividend 18 percent to $0.525 a share and also announced a two for one split, nice combination.
Technical Olympic USA (TOA) down $3.79, huge percentage drop. The home builder said it needs more time to file its third quarter financial report in the expectation there will be a large change in results due to asset impairment charges.
Anthracite Capital (AHR) off $2.50 a share. Third quarter earnings came in at $0.22, $0.08 below the Street estimate, down from $0.28 last year. Friedman Billings brokerage downgraded it from "outperform" to just "market perform."
And Pike Electric (PEC) off $1.58, lower earnings, first quarter only a nickel versus $0.58 last year and revenues tumbled 31 percent.
Google (GOOG) topped the active list on NASDAQ, down $4.38.
Cisco Systems (CSCO) $0.16 gain.
$0.80 rise in Apple Computer (AAPL).
Microsoft (MSFT) was up $0.11 and that's despite a downgrade from Bank of America from "buy" to "neutral" in the belief the company won't have strong earnings growth until 2008.
Research in Motion (RIMM) up $2.41. Canadian regulators have banned top executives and directors from trading the stock because the company is late in filing its second quarter financials.
Intel (INTC) $0.02 loss.
$0.02 gain for Yahoo! (YHOO).
Broadcom (BRCM) up $1.73.
Teva Pharm (TEVA) half dollar lost.
And Comcast "A" (CMCSA) down $0.21.
Inphonic (INPC) $1.94 gain. Third quarter loss of only $0.03 versus a loss of $0.12 last year and the company says it will have 2006 earnings of $0.58 to $0.63 a share.
And then we're back - here we go -- Fuel Tech (FTEK), that's the one we want to see, up $4.34. Third quarter earnings almost doubled to $0.09 versus only a nickel last year. Company boosted its 2006 revenue forecast.
And those are the stocks in the news tonight.
