Paul Kangas' Stocks In The News
Monday, November 13, 2006
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PAUL KANGAS: Wall Street opened the week on the upside as oil prices fell and Citigroup added General Electric and Intel to its recommended list. An hour into trading, the Dow posted a 53-point gain and the NASDAQ was up 17 points. Optimism that tomorrow's reports on retail sales and producer prices will show a still-vibrant economy helped stocks hold most of their early gains right after the final bell. The Dow Industrial Average closed up 23.45 ending at 12,131.88. The NASDAQ Composite was up 16.66 at 2406.38. Standard & Poor's 500 Index gained 3.52 to 1384.42. In the bond market, the 10-year note fell 5/32 to par and 3/32, putting the yield at 4.61 percent.
For the fourth consecutive session, Pfizer (PFE) topped the active list today on 16.5 million shares. The stock edging up $0.18.
Then Motorola (MOT) with a $0.21 loss, although the company said it's going to use Qualcomm chips in some of its future products.
Wal-Mart Stores (WMT) down $0.15.
ExxonMobil (XOM) edged a penny higher, despite the drop in oil prices.
Sprint Nextel (S) $0.13 gain there, fifth in volume.
Time Warner (TWX) was up $0.28.
General Electric (GE) up $0.19. As I touched on, Citigroup added GE to its recommended list.
Home Depot (HD) a $0.24. Home Depot's third quarter results are due out tomorrow morning early.
Micron Tech (MU) a $0.20 gain.
And then AT&T (T) edged a penny higher. That was tenth in big board volume.
American Intl Group (AIG) gained $1.02. The Friedman Billings Ramsey brokerage repeated an "outperform" rating and Standard & Poor's, the credit rating service, upgraded the outlook for the company from negative to stable.
Johnson & Johnson (JNJ), another Dow stock, down $0.35. Citigroup removed it from the recommended list today, but Citigroup also removed Honeywell and McDonald's from the recommended list and both of those stocks were fractionally higher.
AMR (AMR), parent of American Airlines, up $1.52. Airlines very strong today on that drop in oil prices. Let's have a look at some other major carriers.
Continental Air (CAL) up $1.81.
$1.37 rise in UAL Corp (UAUA).
And US Airways Group (LCC) up $2.23, all doing well.
Xerium Technologies (XRM), this company's involved with the paper making process and it's down $1.41 despite a turnaround in the third quarter, earnings of $0.13 versus a loss of $0.18. But the Street was looking for earnings of $0.26, not $0.13.
Benetton Group Ads (BNG) down $3.26. The CEO and CFO both resigned from the Italian clothing manufacturer over disagreement of the direction in which the company is taking.
And then Giant Industries (GI), the refining firm, down $4.70. Western refining has cut its buyout bid from $83 to $77 a share in cash and that's with the agreement of Giant Industries management. Giant this morning reported lower third quarter earnings of $3 even versus $3.38 last year.
Wellcare Health Plans (WCG) up $3.90. The Jeffries brokerage upgraded it from "hold" to a "buy."
Topping the active list was Google (GOOG) with a nice gain of $7.48.
Apple Computer (AAPL) up $1.23.
Cisco Systems (CSCO) dropped $0.06.
Microsoft (MSFT) an $0.11 gain.
Research in Motion (RIMM) doing well, up $4.59, fifth in dollar volume.
Intel (INTC) was up $0.42. As I touched on, Citigroup added Intel to its recommended list.
Amgen (AMGN) was down $0.76.
Qualcomm (QCOM) a $0.96 gain. Motorola's going to use some of its chips.
Oracle (ORCL) with a $0.40 gain.
And then Dell (DELL) up $0.60, tenth in volume.
Isis Pharmaceuticals (ISIS) jumping $2.05, good percentage move there. Mid-stage trials of its cholesterol drug cut bad cholesterol by 62 percent in three months.
And then another good gainer was Wynn Resorts (WYNN) up $6.48. The company has declared a $6 per share cash distribution and also the company was the subject of some very positive comments in "Barron's" financial about its Macaw casino incidentally.
Over in the American Exchange, Bodisen Biotech (BBC) down $2.23. This is a China-based fertilizer manufacturer and it got notice from the American Exchange that it's out of compliance with listing standards there.
And then Coast Distribution (CRV) also on the American, down $2.23. Third quarter earnings dropped to $0.15 from $0.36 last year and revenues dropped 2 1/2 percent.
Those are the stocks in the news tonight.
