Paul Kangas' Stock in the News
Monday, May 14, 2007
|
|
|
|
JEFF YASTINE: The sale of Chrysler failed to rouse any lasting enthusiasm for the broader market on Wall Street today. The Dow started the session with a 50-point gain, hitting a new all-time intra-day high of 13,383. But with consumer prices, that report due out tomorrow and no major earnings reports today, sellers moved in to push the indexes lower. By mid- afternoon, the NASDAQ fell about 20 points before buyers emerged to nudge both indexes off their lows. By the closing bell the Dow logged a 20.5 point gain, settling at 13,346.78 and the NASDAQ Composite fell 15 3/4 points to 2546.44. The S&P 500 dropping 2.70 to 1503.15. In the bond market, the 10-year note falling 6/32 to 98 14/32 and the yield at 4.70 percent.
It wasn't Daimler Chrysler, but Ford Motor Co (F) shares leading the actives, rising $0.34. Ford's controlling family members say unlike DaimlerChrysler, they have no intention of selling any portion of the company to a private firm.
Advanced Micro Devices (AMD) climbing $0.68. That thanks to a "buy" recommendation from an analyst at American Technology Research. He sees an upturn in the sales of low end notebook computers and set an $18 price target on the stock.
Motorola (MOT) falling $0.16.
General Electric (GE) dropping $0.37.
And then AT&T (T) rising $0.44.
Pfizer (PFE) gaining $0.19.
Halliburton Co (HAL) up a little over half a dollar.
Citigroup (C) losing a quarter.
And then General Motors (GM) gaining $1.16. Bear Stearns upgraded the company. The United Auto Workers approval of the Chrysler buyout sparking home that the union will be more flexible with General Motors' efforts to retool its own operations.
Mylan Labs (MYL) dropping $2.70. Over the weekend, Mylan won the bidding for the generic drug division of Germany's Merck KGaA. The $6.6 billion price tag though an expensive pill to swallow for shareholders.
Then Nokia Corp (NOK) tacking on $0.89 and a six-year high. Motorola's problems in the cell phone unit sparking confidence at Nokia in the belief that the company can build its market share above previous company estimates of 36 percent.
Caterpillar (CAT) rising $1.42, near its all-time high of $82 set one year ago. Merrill Lynch giving Caterpillar a new $85 a share price target, seeing improved revenues at the company.
And then the big gainer of the day, Viasys Healthcare (VAS) surging over $11. Cardinal Health will acquire the company for $42.75 a share or $1.4 billion.
And here's another gainer, Stone Energy (SGY) jumping over $2. The oil and gas concern is selling the bulk of its Rocky Mountain properties to Newfield Exploration for $575 million.
Republic Property Trust (RPB) advanced $121, the August real estate investment trust considering the sale of the company. One analyst thinks the potential buyer is Republic's founder and chairman who would of course take it private.
And then in the minus column, Dr. Reddy's Labs (RDY) down $1.43. It lost a patent infringement case over acid reflux drug which was co-marketed by Johnson & Johnson and then the Japanese company you see on the screen there.
Intl Rectifier (IRF) falling $1.27. Last week, the company postponed third quarter results and will restate its earlier financials following the discovery of accounting errors in a foreign subsidiary.
On the NASDAQ, Apple (AAPL) rising $0.62.
Microsoft (MSFT) inching up a fraction.
Google (GOOG) losing nearly $5. A lawsuit on Google's pay for click advertising system, whether it violates U.S. trademark law, now set for trial in November.
Cisco Systems (CSCO) dropping $0.34.
Research in Motion (RIMM) down nearly $4.
Intel (INTC)
dropping $0.16.
Amgen (AMGN) off $0.23.
Applied Materials (AMAT) gaining $0.71, a one-year high and due to announce earnings tomorrow.
Foster Wheeler (FWLT) falling almost $4.50, giving back some gains after hitting new highs last week and with better expected profits.
And then Qualcomm (QCOM) slipped $0.61.
Critical Therapeutics (CRTX) rising $1.01. The FDA giving its approval to an inhalable solution treating chronic pulmonary disease and bronchitis. Critical Therapeutics co-developed that solution.
And then EGL Inc (EAGL) rising more than $3. It's the subject of a bidding war. EGL's CEO is offering $45 a share to take it private. CEVA logistics is now offering $46 a share to acquire the company. That's its third offer Susie for EGL.
And those are our stocks in the news tonight.
