Paul Kangas' Stocks in the News
Friday, April 27, 2007
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PAUL KANGAS: That tepid GDP growth rate had Wall Street's blue chip Dow off about 10 points in the early going today, while the NASDAQ rose five points as Microsoft's strong results helped the tech sector. The market remained mixed until noon, when a solid gain in General Electric stock led the blue chips higher, enabling them to move into record ground for the third consecutive trading session. The Dow Jones Industrial Average closed up 15.44 at a record 13,120.94. This week it rose in four of the five days for a gain of 158.96 points. The NASDAQ Composite was up 2.75 points to 2,557.21 today. It also advanced in four of this week's five sessions, rising 30.82 points overall. The Standard & Poor's 500 Index lost .18 ending at 1,494.07 today. Over in the bond market, the 10-year note rose 1/32 to 99 14/32, putting the yield at 4.70 percent. Big board volume leader by far on a hefty 39.4 million shares, General Electric (GE) moving up a full $1, traded as high as $37.22. A Citigroup analyst says the company is too complex and should spin off several of its divisions like NBC, GE Money and its real estate assets.
Motorola (MOT) a $0.33 loss there.
Ford Motor Co (F) a $0.15 drop.
Pfizer (PFE) was down $0.11.
And then AT&T (T), there you see it, off $0.32 a share.
LSI Corp (LSI) fell $0.15.
Time Warner (TWX) a $0.37 loss.
Omnicare (OCR) was hit hard, off $6.42. The company's first quarter earnings dropped to $0.47 from $0.70 a year ago, $0.18 below the Street estimate. That's excluding one-time items.
ExxonMobil (XOM) down $0.19.
And MEMC Electronic (WFB) losing $9.61. First quarter earnings were higher, $0.58, versus $0.30, but Standard & Poor's repeated a "strong sell" on the stock on disappointment over the company's forward guidance.
Cummins (CM) the maker of diesel engines, up $10.15. First quarter earnings $1.42, up from $1.35 last year, $0.56 better than the Street expected.
Chevron (CVX) dropped a dime, even though first quarter earnings excluding one-time items were $1.86 and that was $0.19 above the Street estimate.
Waste Management (WMI) moved up $2.78. First quarter earnings $0.42, up from $0.34, $0.06 above the Street estimate.
And then Curtiss-Wright (CW) did well, up $3.24. First quarter earnings jumped to $0.44, from $0.28 last year, $0.09 better than the Street consensus.
And Devry (DV) up $4.71. Third quarter earnings jumped 46 percent to $0.32 a share and that was $0.03 above the Street consensus there.
Commscope (CTV) up $3.40, a lot of good gainers here. First quarter earnings were good, $0.63, up from only $0.19 last year, $0.11 above the Street estimate.
On the downside, Lydall (LDL) off $2.47. First quarter earnings $0.11, down from $0.12 and $0.04 below the consensus.
Building Materials Holdings (BLG) off $1.47, feeling the housing slump no doubt. First quarter loss of $0.17, versus earnings of $0.95 a share last year.
Microsoft (MSFT) topped the active list, up $1.02 on those great earnings out after the close yesterday.
Amazon.com (AMZN) down $0.18.
Apple (AAPL) gained $1.08.
Baidu.com (BIDU) up $15.20. First quarter earnings came in at $0.37, $0.04 above the Street estimate. Citigroup upped it from a "sell" to a "buy."
And Google (GOOG) down $2.17 there.
Cisco Systems (CSCO) $0.48 rise.
Intel (INTC) down $0.22.
Amgen (AMGN) a $0.72 gain.
Broadcom (BRCM) lost $1.46. First quarter earnings, $0.29 versus $0.36 last year. Standard & Poor's cut estimates.
And Sandisk (SNDK) was off $1.19.
Varian Semiconductor (VSEA) up nearly 13 points. Second quarter earnings $0.69, way up from $0.26 last year.
But on the downside we have the airlines. JPMorgan downgraded just all the major carriers. UAL Corp (UAUA) down almost $3.
And look at the rest of them, all hurt badly by that downgrade from JPMorgan. Alaska Air Group (ALK)
AMR Corp (AMR)
Continental Air (CAL)
Jetblue Airways (JBLU
US Airways Group (LCC)
Those are the stocks in the news tonight.
