Paul Kangas' Stocks In The News
Friday, January 12, 2007
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PAUL KANGAS: Stocks on Wall Street opened narrowly mixed, reflecting those upbeat retail sales and then Advanced Micro Devices earnings warning, which we'll detail shortly. At the outset of trading then, the Dow fell 10 points while the NASDAQ edged 2 points higher. The market's resilience boosted bullish confidence and with the energy and tech sectors leading the way, stocks ended moderately higher. The Dow Industrial Average rose 41.10 at 12,556.08. That's its second straight record closing high. This week, it advanced in four of the five sessions for a net gain of 158.07 points. The NASDAQ Composite today closed up 17.97, ending at 2502.82. It rose every day this week for a net advance of 68.57 points. Standard & Poor's 500 up 6.91 ending at 1430.73 today. In the bond market, the 10-year note fell 9/32 to 98 27/32, putting the yield at 4.78 percent. Advanced Micro Devices (AMD), almost 34 million shares changed hands, down $1.92. The low of the day, $17.62 on that earnings warning you just heard about.
Then came Ford Motor Co (F) with a $0.12 rise. As you heard, the company out with a rather upbeat outlook. Meanwhile, Ford is suing Navistar over a dispute regarding Navistar diesel engines, but it didn't impact Navistar's stock which was up $0.48.
Motorola (MOT) $0.19 drop.
And the same story with Sprint Nextel (S).
ExxonMobil (XOM) up $1.68, rising along with the comeback in oil prices.
Pfizer (PFE) $0.18 gain there.
Corning (GLW) $0.61 rise.
LSI Logic (LSI) was up $0.55.
General Electric (GE) a $0.03 drop.
Hewlett-Packard (HPQ) tenth in volume, rose $0.89.
Anheuser Busch (BUD), the big brewery company, up $.66. Bank America upgraded it from "neutral" to "buy" in the belief the marketing changes the company is implementing should be quite positive.
Then we see Terra Nitrogen Co LP (TNH), the fertilizer stock very strong today. A rise in corn plantings to satisfy strong ethanol demand expected this year will require more fertilizer. Let's have a look at some other stocks in that group.
Agrium (AGU) and CF Industries (CF), Mosiac Co (MOS) and Potash (POT) all posted very nice gains today on that news.
Sony (SNE) the ADR is up $2.03. An outfit called NPD Group Research reported that Sony sold 1.4 million of its Playstation 2 units in the month of December. That was 300,000 more units than Microsoft's Xbox 360 sales. So they're beating out some of the competition.
Owens-Illinois (OI) moved up $1.41. The company hired Goldman Sachs to advise it on strategic options for Owens-Illinois plastic packaging business.
And then Cablevision Systems (CVC) down $1.21, even though the Dolan family sweetened its buyout bid from $27 to $30 a share.
Trex Co (TWP) up $1.14. The company is in a pact to sell its decking and railing products at all Lowe's stores.
And then Rogers Corp (ROG) down $3.61. The company's into polymers and printed circuits, things like that and now sees fourth quarter revenues at the low end of its previous estimate of $122 to $126 million.
Apple (AAPL) topped the active list on NASDAQ, down $1.18. You heard about some of those option problems.
Microsoft (MSFT) moving up $0.51.
And Google (GOOG) had a decent day, up $5.28.
Intel (INTC) $0.21 gain there.
Cisco Systems (CSCO) rose $0.23. That was fifth in dollar volume.
Research in Motion (RIMM) backed down $1.03.
Symantec (SYMC) lost $0.85, even though the company announced a partnership with baidu.com to promote Symantec's antivirus software in China.
Comcast "A" (CMCSA) up $1.14. Merrill Lynch boosted its price target from $47 to $57 a share.
Amgen (AMGN) up $1.36.
And Oracle (ORCL) rose $0.11, tenth in volume.
XM Satellite (XMSR) up $0.74, traded as high as $17.70 today on rumors the company may merge with Sirius Radio Satellite, but analysts at Oppenheimer are rather doubtful of that.
Those are the stocks in the news tonight.
