Paul Kangas' Stocks In The News
Friday, November 10, 2006
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PAUL KANGAS: Wall Street opened with modest gains bolstered by Boeing, which we will detail shortly and AIG, which reported better than expected earnings after the bell yesterday. The Dow rose 14 points at the outset of trading. The NASDAQ gained three. The blue chips fell to a 25-point loss during midday, but then rebounded on that sharp drop in oil futures. Also a firm tech sector helped the market end on a positive note. The Dow Jones Industrial Average closed up 5.13 at 12,108.43 today. This week it rose in four of the five sessions for a net gain of 122.39 points. The NASDAQ Composite was up 13.71, ending at 2389.72 today. It also rose in four of this week's five days, gaining 58.93 points overall. The Standard & Poor's 500 was up 2.57 ending at 1380.90 today. In the bond market, the 10-year note rose 10/32 to par and 9/32, putting the yield at 4.59 percent.
For the third straight day topping the active list was Pfizer (PFE) losing $0.13 today, traded 21 on a quarter million shares.
Then came Motorola (MOT) with an $0.18 gain.
Sprint Nextel (S) up $0.23.
AT&T (T) lost $0.37.
And Disney (DIS) down $1.18 despite yesterday's much better than expected fourth quarter earnings, but there is concern about the sustainability of that kind of earnings growth, although today, Standard & Poor's upgraded Disney from "buy" to a "strong buy." The stock's still down.
Fifth in volume, ExxonMobil (XOM) down $0.19.
American Intl Group (AIG) up $1.59. After the closing bell yesterday, as we reported, AIG had third quarter earnings, $1.63, way up from $0.66 the year before and today Standard & Poor's repeated a "buy" on it.
Time Warner (TWX) down a dime.
$0.22 loss in Qwest Comms Intl (Q).
And then Lucent Tech (LU) lost $0.02, tenth in volume.
There you see Boeing (BA) stock up $0.51, traded as high as $86.98 on that big contract it won, $15 billion for helicopters. That'll keep them busy for a while.
NYSE Group (NYX) up $6.92. There's speculation the company could remove trading fee caps and the fight to ease some of the mandates of the Starbucks corporate reform law could be successful. There's also optimism that this company might acquire Euro Next, a lot of news on it today.
Dolby Labs (DLB), the audio technology company, up $6.67, big percentage move. Fourth quarter earnings jumped to $0.22 from $0.15 a year ago. Revenues up 29 percent and the company's earnings guidance is bullish.
Scottish Re Group (SCT), the insurance company, down $1.62. A third quarter loss reported, $0.54 a share versus earnings of $0.66 a year ago. The company says it's still pursuing alternatives and that includes the possible sale of the firm.
4kids Entertainment (KDE) losing $1.39. Third quarter loss of $0.02 versus earnings of $0.15 a year ago and revenues dropped almost 10 percent.
Russ Berrie (RUS) up $1.17. The company markets infant and juvenile gifts like teddy bears. Third quarter turnaround, earnings of a penny a share versus a loss of $0.41 a share a year ago.
And Sothebys Holdings (BID) bid down by traders to show a $2.11 loss. Third quarter operating loss of $0.49 versus a loss of $0.35 a year ago.
Bausch & Lomb (BOL), $1.65 drop there. Company sees 2006 and '07 sales and earnings at the low end of its guidance.
Topping the active list on NASDAQ, Research in Motion (RIMM) down $0.64. JPMorgan said Motorola's acquisition of Good Technologies Incorporated is a negative for Research in Motion.
Cisco Systems (CSCO) a $0.03 gain.
Google (GOOG) moved up $0.92.
While Apple Computer (AAPL) dropped $0.22.
Microsoft (MSFT) $0.02 drop there. That was fifth in dollar volume on NASDAQ.
Nvidia (NVDA) lost $0.85 a share. The Steeple Nicholas brokerage downgraded the stock to a "sell" today.
Qualcomm (QCOM) $0.41 gain.
Then came Intel (INTC) rising $0.16 a share.
Sun Micro (SUNW) $0.15 loss.
And then tenth in dollar volume was Amgen (AMGN) with a $0.07 drop.
We had two new issues on NASDAQ today and that was Capella Education Co (CPLA), an online secondary education firm. Four million shares offered to the public at $20, opened at $25, the high of the day, $26.20, backed down a little bit, but still a good debut.
Then Metabolix (MBLX) a $15.52 close. That's up $1.52 from the offering price which was $14, 6.8 million shares offered. The high of the day was $16.25 a share.
Elsewhere Tanox (TNOX) jumping $6.11. The drug developer will be acquired by Genentech at a price of $20 a share in cash.
Those are the stocks in the news tonight.
