Paul Kangas' Stocks in the News
Friday, December 29, 2006
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JEFF YASTINE: With the exchanges closed for the next four days, few investors were interested in doing much on this, the last trading session of 2006. The Dow made a quick run at yesterday's highs, before fading lower in the first half of the day. But it didn't help that oil prices and interest rates both ticked slightly higher for the day. And as you can see, the NASDAQ did not fare any better. So the Dow ended the day down 38.37 points at 12,463.15. And in this holiday shortened week, it rose twice and fell twice for a net overall gain of 119.93 points.
The NASDAQ ended today down 10.28 points at 2415.29, but it also had a split week, moving higher for two sessions and lower in the other two for a net overall gain of 14.11 points. And then the S&P 500 ended the day down 6.4 and ended at 1418.3. And in the bond market, the 10-year note falling 4/32 to 99 13/32, the yield now up to 4.7 percent.
tonight we start off with GE (GE) losing $0.27, topping our active list with about 16 million shares changing hands. AG Edwards repeating a "buy" on GE shares. They're up about 7 percent for 2006.
Ford Motor (F) gaining a penny. Bear Stearns sees year-end clearance sales improving. The auto maker's December sales, which are due out next week - the report's due out next week.
AT&T (T) as you heard earlier, the stock rising a quarter and with the SEC giving its blessing to that merger of AT&T and BellSouth with some last-minute concessions from AT&T.
Pfizer (PFE) stock off $0.17.
EMC Corp (EMC) falling $0.17 as well despite positive comments on the stock in the latest issue of "BusinessWeek" magazine.
And then Time Warner (TWX) losing $0.22.
Excuse me, ExxonMobil (XOM) dropping $0.70.
And then Pier 1 Imports (PIR) losing $0.13.
Citigroup (C) down $0.18.
Wal-Mart Stores (WMT) with a gain of $0.17.
Cypress Semiconductor (CY) adding $0.51. An activist shareholder, Chapman Capital wants the chip maker to spin off its Sun (ph) Power division into a leveraged buyout of its core chip making unit. Cypress had no comment.
And then Alltel Corp (AT) jumping more than $2, also up on reports of private equity interest in the nation's fifth largest wireless operator.
And as you heard a second ago, DaimlerChrysler falling $0.38. The auto maker with a deal with China's "Chery" motors to produce a new small car made in China and exported they hope around the world.
Bradley Pharmaceuticals (BDY) dropping more than $3. The FDA approving a rival's generic version of Bradley's branded drug for treating peptic ulcers, down went the stock.
Keithley Instruments (KEI) (AUDIO GAP) $0.29. The maker of electrical measuring instruments earnings $0.16 a share in its fiscal fourth quarter. Also the company added that its chairman and CFO will not receive year end bonuses because of the cost of the company's option backdating investigation.
Marsh & McClennan (MMC) shares falling $0.06. The company looking to sell its Putnam Investments unit to Power Corp of Canada for almost $4 billion. No comment from the company. That's based on published reports.
And then Movado Group (MOV) rising $0.80. The watch maker going into the S&P small cap 600 index today, excuse me.
Ipsco Inc (IPS) shares losing more than $2. The maker of steel pipes used in oil drilling lowering its fourth quarter earnings expectation by about 11 percent.
And then we have Advanced Micro Devices (AMD) falling $0.22. A Delaware Federal court ruling yesterday that AMD rival Intel must produce documentation on its business connections to overseas PC makers. AMD claims Intel has discouraged its overseas partners from selling or supporting AMD chips.
Now moving onto the NASDAQ and there's Apple Computer (AAPL) rising nearly $4, a rebound of almost 5 percent. The company saying today that it cleared Steve Jobs with its investigation of any wrongdoing in its stock options backdating incidents.
Microsoft (MSFT) falling $0.12, up nearly 15 percent for the year.
Google (GOOG) down more than $2, with an 11 percent gain for 2006.
Intel (INTC) off $0.17.
Cisco Systems (CSCO) losing $0.09, but up more than 50 percent for 2006.
And then Research in Motion (RIMM) losing $1.82.
In the rest of our boards, Yahoo! (YHOO) adding $0.18.
Qualcomm (QCOM) gaining a dime.
Oracle (ORCL) with a loss of a fraction.
Amgen (AMGN) down $0.23.
Oscient Pharma (OSCI) rising $0.86. A change in its licensing contract will allow Oscient to sell its Factive antibiotic throughout the European Union. It's already approved for sale in the U.S.
And then Encysive Pharma (ENCY) losing $0.28. The company said it would take the FDA longer than expected to review the company's new drug called Thalin. Investors hoping for a quicker turnaround there.
And those are our stocks in the news tonight.
