Paul Kangas' Stocks in the News
Friday, May 04, 2007
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PAUL KANGAS: Wall Street took that weaker than expected jobs report as anti-inflationary while the takeover talk about Yahoo! and Reuters gave stocks a boost as well. At 11:00 a.m. the Dow was up 37 points, NASDAQ posted a 12 point gain. After a mid-day slump, stocks firmed up again as interest rates and oil prices moved lower. While normal pre-weekend caution kept the gains modest, the blue chips still ended at record highs for the fourth straight day. The Dow Industrial Average closed up 23.24 points at a record 13,264.62. This week, it rose in four of the five sessions for a net gain of 143.68 points. The NASDAQ Composite advanced 6.69 to 2572.15 today. It also rose in four of this week's five days, gaining 14.94 points overall. The Standard & Poor's 500 Index was up 3.23, ending at 1505.62 today. In the bond market, the 10-year note rose 10/32 to 99 27/32, putting the yield down to 4.64 percent.
The most active New York exchange issue on 20.2 million shares, Motorola (MOT) edging up $0.35. Motorola's annual meeting is next Monday. Today Carl Icahn, who's vying for a board seat, said that if CEO Ed Zander doesn't turn the company around this year, he will seek the resignation of Mr. Zander.
Pfizer (PFE), second in volume, was up $0.21.
Followed by General Electric (GE) with a $0.19 loss.
AT&T (T) moved up $0.58.
Time Warner (TWX) $0.24 gain there.
Coeur d'Alene (CDE) down $0.07. Yesterday as we reported, the company announced plans to buy two Mexican gold and silver mining companies for stock, a lot of stock, 271 million Coeur d'Alene shares.
Micron Tech (MU) $0.52 gain.
ExxonMobil (XOM) down $0.13.
Citigroup (C) edged up $0.14.
And then Ford Motor Co (F) a $0.03 gainer.
Eastman Kodak (EK) fell $1.25. First quarter earnings or I should say results, excluding one-time items, a loss of $0.35 a share. The Street was only look for a loss of about a nickel a share. On top of that, Kodak cut its 2007 forecast.
Dunn & Bradstreet (DNB) moving up $4.22. First quarter earnings moved up to $0.98 from $0.81 a year ago, $0.02 above the Street estimate. Revenues were up a respectable 6.8 percent.
And then Weyerhaeuser Co (WY) a $4.47 gain. First quarter earnings, $0.02, down from $0.92 last year and $0.11 below the Street estimate. Revenues dropped 13 percent. The only positive I saw is that the company is considering the sale of its container board division. That might have helped the stock today.
Electronic Data Systems (EDS) down $1.96. First quarter adjusted earnings, $0.31 versus a nickel last year, but sales were lower than expected. Standard & Poor's cut earnings estimates.
WMS Industries (WMS), which makes game machines, up $4.16. After the close yesterday, third quarter earnings up 40 percent to $0.34 a share, versus $0.26 a year ago and today, Prudential upgraded the stock from "neutral" to an "over weight" rating.
Baldor Electric (BEZ), which makes electric motors, up $4.18. First quarter earnings, $0.50, up from $0.34 last year, $0.13 above the Street consensus, nice move in the stock.
Assured Guaranty Ltd (AGO) up $2.26. First quarter earnings there nicely higher, $0.57 versus $0.47 a year ago and today, Standard & Poor's upgraded it from "hold" to a "strong buy."
A little follow through on yesterday's hot initial public offering, Acorn Intl (ATV). It was up $6 yesterday, up another $4.19 today, the Chinese TV home shopping company
Yahoo! (YHOO) topped the active list on NASDAQ, traded as high as $33.61 today on that takeover talk by Microsoft.
Microsoft (MSFT) itself down $0.41.
Google (GOOG) fell $2.11.
Apple (AAPL) $0.41 gain.
And then Cisco Systems (CSCO) $0.21 gain there.
Intel (INTC) moved up $0.16.
But Sears Holdings (SHLD) off $8.56. The company said first quarter earnings will be $1.03 to $1.26. The Street estimate was up there at $1.46.
Dendreon (DNDN) up $0.91 on the close, but traded as high as $21.81. The company has a promising prostate cancer treatment.
And then Amazon.com (AMZN) up $1.04.
Crocs (CROX) up $11.44, the maker of unusual shoes had first quarter earnings of $0.61, up from $0.17 a year ago and that was $0.12 better than the Street was expecting.
And those are the stocks in the news tonight.
