Paul Kangas' Stocks in the News
Tuesday, May 15, 2007
|
|
|
|
JEFF YASTINE: Today's inflation data put the Dow industrials in rally mode right from the start of the session. The blue chips jumped 100 points in the first hour, with shares of Verizon, General Motors, Boeing leading the charge. The NASDAQ managed a small rebound. At midday a new home builder's survey showed a sharp slide in confidence on lending worries and that opened the door to steady selling throughout the rest of the session. But the Dow did manage to end the day up 37.06 at a record high 13,383.84. The NASDAQ fell 21.15 to 2525.29 and the S&P 500 dropping 1.96 to close at 1501.19. Over in the bond market, the 10-year note falling 2/32 to 98 12/32, putting the yield at 4.71 percent.
And speaking of auto makers, Ford Motor Co (F) topping our list today, rising $0.20. The U.S. Supreme Court ordered a review of a $55 million punitive damage award against the auto maker over an SUV rollover accident that left a woman paralyzed. Also analysts are split on the prospects for Ford going private, but most think that yet another restructuring effort may be a sure bet.
Pfizer (PFE) dropping just a little bit, $0.13.
And then Motorola (MOT) off $0.24. The company introducing the Razr 2 cell phone today in a bid to revitalize its flagging sales.
Advanced Micro Devices (AMD) gaining $0.04. Analysts at Think Equity upgraded the stock. General Electric (GE) rising $0.04 as well.
Then there's Home Depot (HD) down $0.71 on those lower than expected earnings and dreary outlook that we mentioned earlier in the program.
AT&T (T) climbing $0.36.
Micron Tech (MU) is off $0.22.
And Continental Resources (CLR) shedding $0.90. This is an oil and natural gas production company which went public with $29.5 million shares priced at $15 each. That was below underwriter expectations.
And then General Motors (GM) on the mend, rising $1.35. Lehman Brothers thinks the company will have successful labor contract talks and that should lead to further cost reductions in GM operations.
Agilent Technologies (A) rising nearly $2. Goldman Sachs and CS First Boston raising their price targets at Agilent reported stronger second quarter profits and gave an upbeat forecast.
Ingersoll-Rand (IR) tacking on $2.68. The company considering the sale or spin off of its Bobcat construction unit. The firm also doubled its stock buyback program to $4 billion.
And MetroPCS Communications (PCS) standing tall, rising more than $2. First quarter earnings nearly tripled to $0.11 a share. That stock just went public about two months ago.
On the downside, Trina Solar Ltd (TSL) tumbling $4.59. This is a Chinese solar group and they want to sell nearly 5 1/2 million shares. The company went public back in December at $18.50.
Then Limited Brands (LTD) sliding $1.23. The group selling its Express apparel store chain for nearly $550 million to Golden Gate capital and they also sell the Limited stores division. Executives lowering first quarter and full year profit guidance as well.
Now on the NASDAQ, Amgen (AMGN) sliding more than $2. New Medicare rules will limit the use of Amgen's anti anemia drugs. Those two drugs Aranesp and Epogen account for nearly half of Amgen's revenues.
Apple (AAPL) down nearly $2 for the day.
Microsoft (MSFT) up a fraction.
Google (GOOG) dropping nearly $4.
Intel (INTC) off $0.11.
And then Cisco Systems (CSCO) losing $0.16.
Applied Materials (AMAT) down $0.64, but you heard CEO Mike Splinter on the program talking about those better than expected results after the close today.
Qualcomm (QCOM) down a bit.
Research in Motion (RIMM) also down.
And so is Yahoo! (YHOO)
Winn-Dixie Stores (WINN) jumping nearly $7.50. The grocer emerging from bankruptcy last fall after a restructuring and reported profits today sharply higher than analyst estimates.
And finally Astea Intl (ATEA) surging over $2.43. Profits rising sharply from year ago levels. Much of that though due to sharp, to deferred (INAUDIBLE) recognition of deferred revenue from a foreign subsidiary. Susie, the CEO says don't expect that yet, still more financial engineering to do.
Those are the stocks in the news tonight.
