Paul Kangas' Stocks In The News
Wednesday, December 27, 2006
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JEFF YASTINE: The housing data helped investors keep up the holiday spirit as the year-end rally rolled on. The Dow spiked higher by nearly 80 points in the first hour of trading. Citigroup was the high flyer for the blue chips and 29 out of the Dow's 30 components were in the plus column. The NASDAQ was also helped by a rebound in shares of Google. So the Dow ending up 102.94 points at a new record high of 12,510.57. The NASDAQ gained 17.71 points to close at 2431.22. And the S&P 500 Index closing up 9.94 points to 1426.84. And in the bond market, the 10-year note losing 13/32 to 99 12/32, the yield at 4.65 percent.
Starting things off, Ford Motor (F) once again topping the actives with a gain of $0.09 and 14, nearly 14 million shares changing hands. Ford confirming last week's meeting between CEO Alan Mulally (ph) and Toyota's chairman. Investors optimistic that that meeting will lead to some sort of technology sharing agreement.
Citigroup (C) rising $1.29 on a strong financial sector today.
Pfizer (PFE) ending $0.22.
EMC Corp (EMC) up a fraction.
And Motorola (MOT) gaining $0.07. The Federal Trade Commission giving a thumb's up to Motorola's planned $208 million takeover of Netopia (ph). That's a home network equipment maker.
Then GE (GE) gaining just a fraction.
But Time Warner (TWX) losing $0.12.
ExxonMobil (XOM) up nearly $1.
AT&T (T) gaining $0.41.
And Texas Instruments (TXN) gaining $0.35.
Let's look at the IBM (IBM) shares, rising $1.44, really helping to power the Dow higher today. But ThinkEquity brokerage firm upgrading big blue from "sell" to "buy" and upping its price target on the stock from $70 to $110 a share, the firm believing IBM's services business has turned a corner and will help in strong performance.
Toyota Motor (TM) gaining more than $2, $2.65. The company saying that Ford and Toyota did not talk about partnerships in their meeting last week, but the shares of both auto makers being bid up just the same.
Merck (MRK) adding $0.58, a Merck-funded study showing some elderly women may continue to benefit from the company's osteoporosis treatment Fosemax (ph), even after its use is discontinued. That helped the stock today.
And then Burger King (BKC) falling a penny. A British ban on children's advertising some think may cut sales there by 10 to 15 percent a year.
McClatchy (MN) also down a penny. The company is selling its flagship paper, the "Minneapolis Star-Tribune" to a private equity firm for about $530 million. That's less than half of what McClatchy paid for that paper eight years ago.
Guess Inc (GES) shares rising more than $5. The Piper Jaffray brokerage said December sales looked solid at the retailer and the firm has boosted Guess' fourth quarter same store sales estimate, up to 8 percent sales growth.
China Netcom (CN) adding more than $9. Market rumors are that China Netcom may buy assets from its rival China Unicom but both companies said there were no negotiations related to acquisitions.
Intercontinental Hotel Group (IHG) falling $0.84, some profit taking after a run up last week on takeover speculation.
Onto the NASDAQ, there's a look at Apple Computer (AAPL). You heard the news. It got below $77 before rebounding.
Then Google (GOOG) rising more than $10 on a strong Internet sector today.
Microsoft (MSFT) up a fraction.
Research in Motion (RIMM) gaining as well.
Cisco Systems (CSCO) up $0.11.
Then on to Intel (INTC) which was up a quarter.
EBay (EBAY) gaining nearly a quarter.
Qualcomm (QCOM) down a nickel.
Yahoo (YHOO) up $0.30.
Amgen (AMGN) losing $0.23.
Cadmus Communications (CDMS) adding nearly $3.50. It's going to be acquired by Cenveo for $24.75 a share. Cenveo stock up nearly $2 on that news as well.
Then Infosonics Corp (IFON) shares rising $1.69 or almost 40 percent, 44 percent. It inked a deal to distribute LG cell phones in the Caribbean and Latin America.
And finally, Gorman Rupp (GRC) rising $5.75. The maker of industrial pumps says its Patterson pumps subsidiary has received a $15 million order for pumps to be used in the New Orleans flood control problem.
