Paul Kangas' Stocks In The News
Tuesday, November 28, 2006
|
|
|
|
PAUL KANGAS: As bad as yesterday's sell-off was on Wall Street, stocks opened still lower today as the dollar continued to slide, while oil rose. The dow fell 30 points at the outset of trading. The NASDAQ lost 12. Bargain hunters cut those losses to single digits by midday, but they backed off during the Bernanke speech. Despite his concern about inflation, buyers came back in the final hour resulting in a positive market close. The dow Industrial Average ended up 14.74 points at 12,136.45. The NASDAQ Composite was up 6.69 ending at 2412.61. Standard & Poor's 500 Index gained 4.82 to close at 1386.72. In the bond market, the 10-year note rose 7/32 to par and 30/32, putting the yield down to 4.51 percent.
Once again volume leader on the big board of 20.4 million shares, Lucent Tech (LU) edging up $0.03. Alcatel should complete its merger with Lucent by late this week.
Pfizer (PFE) moved up $0.08. It was just one of the three gainers on the Dow yesterday. The only news out today on Pfizer, it discontinued developing an anti-psychotic drug with a Dutch firm called Paxonobel (ph).
Then Ford Motor Co (F) edging a penny lower.
ExxonMobil (XOM) on the higher oil prices today up $1.69.
General Electric (GE) $0.25 loss. That was fifth in volume.
Motorola (MOT) lost $0.12.
AT&T (T) moving up $0.14.
Time Warner (TWX) a $0.04 loss.
While Qwest Comm (Q) gained that much.
And CVS Corp (CVS), the big drug chain, $0.38 gain, tenth in volume.
Boeing Co (BA) closed up $0.57, but traded as high as $88.73 this morning after getting an order from Air Berlin, the second largest German carrier. The order is for 60 new 737-800 models and that's worth about $4.2 billion.
Nokia Corp ADS (NOK) was down $0.22. The company cut its targets for operating margins due to the pricing pressures in the global handset market.
Then Louisiana-Pacific (LPX) moving up $1.13 on takeover speculation. It's rumored that Weyerhaeuser could make a buyout bid, so far just speculation.
Servicemaster Co (SVM) up $1.25. The company's hired Goldman Sachs and Morgan Stanley to help explore strategic alternatives and that includes the possible sale of the company.
Quicksilver Resources (KWK), this is an oil and natural gas producer, got an upgrade from Goldman Sachs today from "neutral" to "buy."
Then Frontline Ltd (FRO), which is in the oil and the crude oil tanker business down $2.34. Third quarter earnings were higher, $1.32 versus $0.99 last year, but most Street estimates were above $1.50. The company cited for the shortfall the cost of dry docking seven vessels.
Donaldson Co (DCI) was down $3.07. First quarter earnings were a bit higher, $0.43 versus $0.37 last year, but that was only in line with estimates and a disappointment to some apparently.
Koppers Holdings (KOP) down $0.83. The company's involved in wood treatment systems, things like that and its largest shareholder, Saratoga Partners, is going to sell 1.75 billion shares.
The overnight market in Hong Kong, the Hang Seng Index tumbled almost 3 percent so the Chinese American Depository Receipts in the U.S. had a rough time of it today. As you can see, some major losses by these four issues, all ADRs. China Life Insurance (LFC), China Mobile (CHL), China Petroleum (SNP), Yanzhou ADR (YZC)
Google (GOOG) topped the active list up $4.75 on NASDAQ.
Followed by Apple Computer (AAPL) up $2.27 and that is a new closing record high for Apple. And incidentally, amazon.com says six of Apple's iPod products made the list of the top 10 most popular electronic products. UBS also boosted 2007 earnings for Apple from $2.75 to $2.84 a share.
Cisco Systems (CSCO) up $1.23.
Microsoft (MSFT) a $0.09 loss.
Research in Motion (RIMM), fifth in dollar volume, lost $1.01.
Intel (INTC) a $0.04 drop.
$0.89 drop in Broadcom (BRCM) and incidentally, Broadcom's CEO says the company's inventories under control, but the challenge is with some of its customers.
Qualcomm (QCOM) $0.60 drop there.
And then Oracle (ORCL) a $0.02 loss.
And Dell (DELL), tenth in volume, was off $0.06.
Palm (PALM) fell $1.18. After the close yesterday, the company cut second quarter revenue guidance due to the delay in shipping its new Trio smart phone.
And then we see Anika Therapeutics (ANIK) up $2.34. The company got preliminary FDA approval for its cosmetic tissue augmentation product.
Those are the stocks in the news tonight.
