Paul Kangas' Stocks In The News
Tuesday, December 26, 2006
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JEFF YASTINE: That drop in oil prices, and the belief in the proverbial year-end rally helped boost stocks in a light post-holiday trading session. The Dow's gains were helped by an oversold rally in Wal-Mart stock and a boost in financial stocks like Citigroup and JPMorgan. By noontime the blue chips were up nearly 40 points. The NASDAQ joined in the recovery after falling in four of the last five trading sessions and the Dow picked up momentum as the session wound to a close. So the blue chip index ending up 64.41 points at 12, 407.63 and the NASDAQ rising 12.53 points to 2413.51 and the S&P 500 adding 6.14 points to close at 1416.9. Over in the bond market, the 10-year note gaining 5/32 to par and 5/32. The yield now at 4.6 percent.
Ford Motor (F) topping our list here, gaining $0.07 on that news of published reports Ford talking to Toyota about some kind of partnerhip. Also the Thomas Weisel brokerage widened for its 2007 loss estimate from $0.60 a share to a loss of $1.25 a share.
ExxonMobil (XOM) gaining $0.64.
Eli Lilly (LLY) up $0.43, an appeals court upholding Lilly's patent on its top selling schizophrenia drug Zyprexa. That drug made up about a third of Lilly's total sales last year.
Pfizer (PFE) losing a fraction.
And Time Warner (TWX) gaining $0.14.
Then we have General Electric (GE) which also added $0.14.
EMC Corp (EMC) gaining a fraction.
Motorola (MOT) rising $0.22.
Wal-Mart Stores (WMT) adding $0.57, about 1 1/2 percent gain on that one.
And Chesapeake Energy (CHK) losing $0.47.
Alcoa (AA) rising $0.13. The aluminum refiner reaching a tentative deal with striking union workers at its Cleveland plant.
And then AMR Corp (AMR), the parent of American Airlines, rising $0.45. An Icelandic investment firm FL Group has taken an almost 6 percent stake in AMR Corp., the parent company.
Halliburton (HAL) a big military contractor, falling $0.29. Last week, the Defense Department said it would review all military service contracts worth more than $1 billion and beef up training for its contracting professionals.
Moving onto Fedex (FDX) shares which fell a nickel. European regulators looking into anti-competitive behavior in the air cargo industry, requesting information from Fedex.
And China Life Insurance (LFC) the big gainer of the day, rising nearly $10. The company plans a $3.5 billion initial public offering on China's stock market.
Anadarko Petroleum (APC) rising $0.56. Anadarko selling two gas fields in Louisiana to Exco Resources for $1.6 billion in cash. That sale part of Anadarko's move to cut debt after its acquisitions of Kerr-McGee and Western Gas Resources.
Applica Inc (APN) shares rising $0.60. For the second time this month, Necoo Industries raising its buyout price for Applica now to $7.50 a share you'll recall Applica agreed in October to a buyout price of $6 a share by Harbinger Capital.
And then NYSE Group (NYX) falling $2.71 perhaps on reports the Hong Kong stock exchange surpassed the New York exchange as the second most popular place for initial public offerings. According to the article in the "London Free Press," the London stock exchange remains number one for IPOs.
And then Build a Bear Workshop (BBW) up $1.58, benefiting from seasonal holiday sales.
Over at the NASDAQ, Apple Computer (AAPL) rising, excuse me, falling $0.69.
And then Microsoft (MSFT) gaining $0.35. Experts identifying numerous securities flaws in its new Windows Vista operating system, according to published reports.
Google (GOOG) gaining nearly $2.
Research in Motion (RIMM) falling more than $2. It's been down on profit taking since reporting third quarter results late last week.
Intel (INTC) rising $0.07.
Cisco Systems (CSCO) with a gain of $0.26.
Then we have Qualcomm (QCOM) falling $0.19. The company warning last week about first quarter results.
Applied Materials (AMAT) rising $0.48.
Oracle (ORCL) gaining a fraction.
EBay (EBAY) up a dime.
On our gainers, shares of Zi Corp (ZICA) rising by nearly 50 percent. The company striking a deal with T-Mobile to put its search engine feature on T-Mobile cell phones sold in the UK.
And among our losers, Telik Inc (TELK) shares losing more than two thirds of their total value. The company with its cancer drug Telcyte saying it did not demonstrate statistically significant improvement in the survival of cancer patients.
Finally, on the American Exchange, share of Midwest Air Group (MEH) rising $0.63. It's hired Goldman Sachs late Friday as a financial advisor. You'll recall Midwest rejected a takeover offer from Air Trans airway some weeks ago.
Those are our stocks in the news tonight.
