Paul Kangas' Stocks in the News
Thursday, April 12, 2007
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PAUL KANGAS: Wall Street extended yesterday's broad sell-off early today as oil prices moved higher, while new jobless benefit claims and March import prices both jumped more than expected. The Dow fell 46 points at the outset of trading. The NASDAQ lost seven points. Paced by solid gains in the tech-laden NASDAQ market, stocks in general improved steadily throughout the rest of the session and the market ended on a strong note. The Dow Industrial Average closed up 68.34 at 12,552.96. The NASDAQ Composite was up 21.01 at 2,480.32. Standard & Poor's 500 Index rose 8.93 ending at 1,447.80. Over in the bond market, the 10-year note lost 1/32 to 99 3/32, putting the yield at 4.74 percent.
Most active issue on the New York exchange trading 21.8 million shares, Pfizer (PFE) up $0.42. Followed by Kraft Foods (KFT) $0.43 gain there. UBS financial upgraded Kraft from "neutral" to "buy," boosted its price target from $34 to $37 a share and also today, Morgan Stanley upgraded Kraft from "under weight" to "equal weight."
General Electric (GE) moved up $0.23.
Advanced Micro (AMD) $0.47 gain.
Fifth in volume, Micron Tech (MU) edged up $0.15.
ExxonMobil (XOM) $0.62 gain there.
Halliburton (HAL) rose $0.27.
AT&T (T) dropped $0.28.
Motorola (MOT) edging $0.03 higher.
Tenth in volume, Citigroup (C) down $0.15 a share.
Abercrombie & Fitch (ANF), one of those strong retailers, up $3.97. March same store sales up a very respectable 7 percent. The Street estimate was for a rise of only 2.4 percent.
And another retailer did well, Dillard's (DDS) up $1.45. March same store sales there up 6 percent. The Street was actually looking for a small drop in sales during the period.
Genentech (DNA) down $1.06. After the close yesterday, it reported first quarter earnings, $0.74. That was $0.07 above the Street estimate, but sales of the company's two key cancer treatments were lower than expected. Apparently that's why the stock was down a bit.
Ipsco (IPS), the steel pipe maker, the company confirms it is in talks that could lead to its acquisition.
Manor Care (HCR) up $1.13. That stock was up nearly $6 yesterday after it hired JPMorgan to assist in reviewing strategic alternatives to enhance shareholder value and sometimes that means the entire sale of the company. Today Bear Stearns upgraded it from "under perform" to "peer perform."
Marinemax (HZO) plunging $3.24. The company warned 2007 earnings will be only $0.45 to $0.65 a share. That's way down from its previous guidance of $1.40 to $1.50 a share.
Nautilus Group (NLS) off $2.34 there. The company now sees first quarter earnings at only $0.08 to $0.09 versus its previous guidance of $0.18 to $0.21. The company cites a sluggish North American market for home fitness products.
Men's Wearhouse (MW) off $2.03. The company sees first quarter earnings at the low end of its previous estimate, $0.63 to $0.67 a share. The Street was looking for $0.66 incidentally.
Medimmune (MEDI) topped NASDAQ's most active, up $5.75. The company has retained Goldman Sachs to explore the potential sale of the firm.
Research in Motion (RIMM) plunging $11.92. After the close yesterday, fourth quarter earnings came in at $0.99, way up from $0.10 the year before, but the company forecast first quarter earnings about $0.99, maybe $1.07 at best and on top of that, the SEC has converted its stock option probe of the company into a formal investigation.
Apple (AAPL) down $0.40 and it fell as much as $1.50 from there after hours when the company said it's delaying the launch of its next generation Macintosh operating system in order to focus on the June release of the iPhone.
Intel (INTC) $0.03 gain there.
Google (GOOG) moved up $2.86. That was fifth in dollar volume.
Microsoft (MSFT) $0.43 rise.
Amgen (AMGN) up $1.30.
Dendreon (DNDN) down $0.22.
Cisco Systems (CSCO) an $0.18 gain.
Monster Worldwide (MNST) up $2.18. The staffing company named former chairman of Symbol Technology Sal Iannuzzi as the chairman of the executive committee. UBS issued a "buy" on Monster stock.
Mobius Management Sys (MOBI) up $2.35. It's a software company and Alan Systems Group will acquire it for $10.05 a share in cash.
And Advanced Magnetics (AMAG) up $6.23. The company's phase three studies of its intravenous iron replacement met objectives.
Those are the stocks in the news tonight.
