Paul Kangas' Stocks in the News
Friday, May 25, 2007
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PAUL KANGAS: The generally upbeat view of the economy and more takeover activity fueled a morning rally on Wall Street. By 11:00 a.m., the Dow had a 67-point gain and the NASDAQ Composite was up 17 points. After a mild mid-session fade, stocks came on strong again, bolstered by buyers who were impressed with the market's resilience. That resulted in solid closing gains as the Dow Industrial Average ended up 66.15 points at 13,507.28. It rose only once this week and did have an overall loss of 49.25 points. The NASDAQ Composite was up 19.27 ending at 2,557.19 today. It fell twice, but rose three times this week, still had an overall drop of 1.26 points. The Standard & Poor's 500 Index gained 8.22 ending at 1,515.73 today. In the bond market, the 10-year note fell 4/32 to 97 5/32, putting the yield at 4.86 percent.
The most active New York exchange issue trading 13.3 million shares, Pfizer (PFE) moving up $0.25.
Then General Electric (GE) with an $0.18 gain.
EMC Corp (EMC) rose $0.16.
Motorola (MOT) up $0.13.
ExxonMobil (XOM) on today's higher oil prices, gained $1.23.
Time Warner (TWX) edged up $0.20.
Ford Motor Co (F) lost $0.04.
Micron Tech (MU) up $0.16 on takeover rumors.
And CVS Caremark (CVS) up $0.79. Quarterly earnings from CVS are due out this coming Thursday.
AT&T (T) was up $0.34.
Archstone-Smith (ASN), real estate investment trust that owns high rise and garden communities and reportedly is in talks with Tishman Speyer Properties about its possible sale to Tishman.
Stifel Financial (SF) up $4.53. Reportedly the Foxx-Pitt brokerage began coverage of the stock with an "out perform" rating.
Then we see CDI Corp (CDI) which is an info technology firm getting an upgrade from Goldman Sachs from "neutral" to "buy" and the stock responded nicely.
Cleveland Cliffs (CLF) rising $7.33 on takeover speculation. Some say India's Mittal (ph) Corporation might be a suitor.
Vimpel Communication (VIP), the Russian cell phone company, big earnings, first quarter, up 85 percent from last year to $5.45 a share versus $2.94 a year ago and revenues shot up almost 60 percent.
Brown Shoe Co (BWS) down $4.39. It was up $4.75 yesterday on first quarter earnings that were $0.10 better than the Street expected. Today Susquehanna financial thinks any further gains in the stock might be limited and that certainly didn't help it.
Las Vegas Sands (LVS) down $1.21. That's a little profit taking after recent run ups on takeover speculation in that whole group actually.
BMC Software (BMC) up $1.18. Cowen & Company brokerage upgraded it from "under perform" to "neutral."
NASDAQ's most active, Google (GOOG) up $9.19. Comscore (ph) reports that Google continues to dominate the web search market with 50 percent of it or nearly so in the month of April.
Apple (AAPL) up $2.93.
Research in Motion (RIMM) gained $6.45. Merrill Lynch raised its target to $190 yesterday.
Microsoft (MSFT) up $0.31.
And Cisco Systems (CSCO) a $0.12 gain.
Qualcomm (QCOM) lost $0.24.
Intel (INTC) $0.19 gain there.
Amazon.com (AMZN) lost $0.80.
Amgen (AMGN) down $0.02.
The NASDAQ stock market (NDAQ) off $1.14. NASDAQ is buying Swedish stock exchange operator OMX for nearly $4 billion. The deal gives NASDAQ a foothold in Europe and enables it to better compete with the NYSE which acquired Euronext. Analysts also expect NASDAQ to make another run at the London Stock Exchange.
Verigy (VRGY), this is a semiconductor test systems company, had a turnaround the second quarter, $0.36, versus a loss of $0.22 a year.
And then Sterling Financial (SLFI) tumbling $6.19, huge loss. Company suspends its dividend. It's going to record $165 million charge after discovering a falsified document scheme in one of its units.
And those are the stocks in the news tonight.
