Paul Kangas' Stocks in the News
Thursday, December 06, 2007
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JEFF YASTINE: Reaction to the administration's mortgage plan helped propel the markets to a second day of triple digit gains. The Dow churned higher, gaining 60 points on the back of stronger financial shares like American International Group. And after the president's news conference, the NASDAQ, already up more than 14 points at midday, got a second heaping helping of buyers and so did the Dow, which continued gaining ground into the closing bell. So the Dow rose 174.93 to 13,619.89 and the NASDAQ climbing 42.67 to 2709.03 and the S&P 500 ending up 22.33 to 1507.34. In the bond market, the 10-year note falling 16/32 to 101 30/32 and the yield now above 4 percent, 4.01 percent.
Citigroup (C) once again topping our list, gaining $0.66 with all the financials helped by that White House mortgage salvage plan.
Then Ford Motor Co (F) gaining $0.08. The auto maker announcing a recall of 1.2 million SUVs, trucks and vans to fix a sensor problem that may cause engines to stall.
Countrywide Financial (CFC) perking up $1.68, also benefiting in that run up in financial stocks today.
General Electric (GE) gaining $0.55.
Pfizer (PFE) up $0.19.
EMC Corp (EMC) edged up $0.08.
Motorola (MOT) gaining $0.56.
Advanced Micro (AMD) up $0.16.
Wells Fargo (WFC), another financial, gaining $0.19.
And American Intl Group (AIG) jumped more than $3 on carry over strength from yesterday. Management also seeking an expedited judgment of former CEO Hank Greenberg and his 13 percent stake in the insurer, given his role in their accounting scandal of last year.
Target (TGT) shares taking a hit as well, falling $4.56 on a profit warning. The retailer admitting weakness in sales before black Friday contributed to a drop in same store sales in November and may spill over to December as well and you can blame its rival Wal-Mart and those deep discounts there for some of that.
And reaction from other retailers with disappointing same store sales, Family Dollar Stores (FDO) down.
So was JC Penney (JCP).
Macy's (M) actually beat sales estimates, but says December sales are forecast to drop about 2 percent.
Toll Brothers (TOL) shares higher despite the home builder reporting its first loss in decades, $0.52 a share for the fourth quarter, but investors were relieved the results weren't even worse, given the sentiment in that area.
That news in part helping to light up the home builders' sector. Centex (CTX), KB Home (KBH), Lennar (LEN), MDC Holdings (MDC) all seeing really good gains compared to the losses they've had for it seems weeks and months.
Fleetwood Enterprises (FLE) rising $1.41. It too delivered a smaller than expected quarterly loss, a third of what analysts were predicting.
Raytheon Co (RTN) climbing over $2. JPMorgan expects the Defense Department to award Raytheon a major contract to supply patriot missiles to the United Arab Emirates and Kuwait.
Methode Electronics (MEI) gaining more than $3. Earnings in its latest quarter nearly doubled to $0.24 a share from year ago levels and it was a nickel above projections.
Gamestop (GME) rising $1.75. This video game retailer will be added to the S&P 500 when News Corps completes its purchase of Dow Jones.
And then Verifone Holdings (PAY) off $2.85. Moody's flagging the company for a possible downgrade.
On the NASDAQ, Apple (AAPL) rising more than $4. RBC Capital's analyst expects a record number of Macs to be sold during this holiday period and the quarter and other analysts all upped their profit estimates and price targets on that one.
Google (GOOG) gaining more than $16.
Research in Motion (RIMM) up nearly $3.
Baidu.com (BIDU) eking out a $0.71 gain.
Microsoft (MSFT) jumping $0.40.
Intel (INTC) gained $0.76.
And then Cisco Systems (CSCO) up $0.31.
Comcast (CMCSA) with a small gain.
FirstSolar (FSLR) dropping $7.50.
Dell (DELL) gaining $0.64. It inked a deal with Best Buy to start selling its product at Best Buy locations.
Hoku Scientific (HOKU) jumping $1.85. Merrill Lynch offering them $200 million in financing. They make poly silicon used in solar energy panels
Analogic Co (ALOG) soaring more than $10. They earned a profit in their first quarter, surprising analysts.
And finally, UTI Worldwide (UTIW) tumbling almost $5. They're losing a contract, a big one, with Wal-Mart that added about $0.03 to $0.04 a share to their previous earnings.
And those are our stocks in the news tonight.
