Paul Kangas' Stocks In The News
Wednesday, November 15, 2006
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PAUL KANGAS: That news about U.S. Air and Delta had the airline sector soaring, lifting stocks in general. The Dow posted a 25-point gain early on, while the NASDAQ was up 11. Things stayed strong until 2:00 p.m. when the minutes of the last Fed meeting were released, showing serious concern about inflation. That shaved the Dow's gains of as much as 60 points, but it still closed at a new record high, up 33.70 at 12,251.71. The NASDAQ Composite rose 12.09 at 2,442.75. Standard & Poor's 500 Index gained 3.35 ending at 1,396.57. In the bond market, the 10-year note fell 14/32 to par and 1/32, putting the yield up to 4.62 percent.
Most active New York exchange issue on 20.6 million shares, Motorola (MOT) moving up $0.58. The company said its phone orders are now at an historic high.
Pfizer (PFE) moved up $0.28.
AT&T (T) a $0.50 loss.
Home Depot (HD), which had slightly lower than expected earnings yesterday down $0.34.
Lucent (LU) was up $0.03. That was fifth in big board volume.
Nortel Networks (NT) fell $0.08.
And then Texas Instruments (TXN) up $0.51.
ExxonMobil (XOM) $0.35 gain.
Halliburton (HAL) rose $1.48. The company expects to set the initial public offering price for its Kellogg, Brown & Root unit sometime tonight, no word yet.
General Electric (GE) $0.20 gain, was tenth in big board volume.
Altria Group (MO), parent of Philip Morris, up $1.11. Goldman Sachs upgraded it from "neutral" to a "buy," traded as high as $82.76 today.
And then came the airlines led by U.S. Airways Group (LCC) up $8.53, a positive reaction to its proposal to acquire or merge with Delta. Delta on the pink sheet was up a nickel at $1.52 a share.
Let's have a look at some of the other major airlines. AirTran Holdings (AAI) also got an upgrade from Bear Stearns, rising $1.76.
AMR (AMR) up $1.65.
Continental (CAL) a nice gain.
As was the case with UAL (UAUA), a very strong group today.
RailAmerica (RRA) up $3.44. Fortress Investment Group is going to acquire the short line railroad holding company for $16.35 a share in cash.
Arvinmeritor (ARM) up $1.48. The company makes vehicle parts and fourth quarter operating earnings were lower, $0.40 versus last year's $0.44, but that was in line with Street estimates and the Keybanc brokerage upgraded the stock from "under weight" to a "hold."
Abercrombie & Fitch (ANF) tumbling $4.60, even though third quarter earnings rose to $1.11 from $0.79 last year, but the company predicting a flat fourth quarter, both in earnings and sales.
Esco Technologies (ESE), which makes things like filters and valves, fourth quarter earnings, $0.40. That's a penny better than last year, but $0.04 above the Street estimate. Revenues up a respectable 11 percent.
Google (GOOG) the most active NASDAQ, up $2.63.
Intel (INTC) $0.44 gain.
Apple Computer (AAPL) fell $0.95.
Microsoft (MSFT) $0.11 drop.
Cisco Systems (CSCO) $0.04 loss there, fifth in dollar volume.
Comverse Technology (CMVT) fell $2.95. The company found more accounting regularities in its internal review.
Broadcom (BRCM) $0.41 gain.
$0.16 rise in Dell (DELL).
Qualcomm (QCOM) up $0.14.
Research in Motion (RIMM), tenth in volume, lost $0.72. Amazon.com rising $1.09. Soleil Security began covering the stock with a "buy" in the belief it holds an edge over eBay on the Internet.
And then Vanda Pharmaceuticals (VNDA) up $5.14. Late stage trials of its insomnia treatment proved effective.
And then Embrex (EMBX) up $4.72. Pfizer will acquire this firm for $17 a share in cash.
And finally Daktronics (DAKT) surged nearly $7 on sharply higher second quarter profits, $0.22 a share, up from $0.11 a year ago. This company makes electronic scoreboards and billboards.
