Paul Kangas' Stocks in the News
Friday, November 06, 2009
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JEFF YASTINE: Wall Street took the employment numbers in stride. The Dow and NASDAQ moved sideways through much of the session. The jobs data likely means more of what's already propelled this months-long rally: low interest rates. It also led to a big drop in oil prices down 3 percent and that helped lift some consumer related stocks today. So the Dow rose 17.46 to end at 10023.42. This week, the index rose in four out of the last five sessions for an overall gain of 310.6 points and the NASDAQ Composite advancing a little over 7 to 2112.44. And like the Dow, it fell only once this week for an overall gain of 67 1/3 points. The S&P 500 rising 2.67 to 1069.3, for the week up a little over 33 points. And in the bond market, the 10-year note rose 7/32 to 101 1/32, putting the yield at 3 1/2 percent.
Citigroup (C) topping our list unchanged today.
General Electric (GE) jumping $0.90. The company's $30 billion garage sale of assets in coming years should help the stock, say analysts, especially with lower risks in place at GE Capital. Analysts say (inaudible) to see NBC Universal appears to be progressing.
Ford Motor Co (F) picked up $0.30.
And then Bank of America (BAC) down $0.08.
Motorola (MOT) losing $0.42.
CVS Caremark (CVS) rose $0.92. Investors stepping into the void today after a probe by the Federal Trade Commission came to light yesterday.
Pfizer (PFE) ended $0.06 lower.
Then we have Merck (MRK) off $0.12.
Fannie Mae (FNM) finished down $0.08. Fannie posted a lower third quarter loss but the spike in foreclosures prompted the firm to ask for another $15 billion draw from its $200 billion government credit line.
Wells Fargo (WFC) dropped $0.17. And Lowe's (LOW) rose $0.87. Analysts at Bank of America Merrill Lynch are knocking on wood hoping that Lowe's and Home Depot will boost their dividends if an economic recovery really takes hold.
Shares in Travelers Co (TRV) rose $1.26. Goldman Sachs highlighting the insurer's strong balance sheet. They issued a "buy" on the stock.
And International Game Technology (IGT) picked up $1.62. IGT isn't hitting the jackpot yet with slot machine sales, but the company says more casinos are stepping up to the pay line (ph). Fiscal fourth quarter profits were better as well.
Macy's (M) gained $1.16. JPMorgan upgrading those shares. Monthly sales are improving so analysts see the potential for earnings surprises in the fourth quarter.
On the downside, Sunoco (SUN) fell more than $3, a third quarter loss there on weak demand for its fuel and chemicals and the company does not see a significant improvement in the refining market until 2010.
CVR Energy (CVI) dropped $1.81. A Goldman Sachs affiliate will sell seven million shares, cutting their stake from 36 percent to 28 percent. Last month, CVR said it would cancel an (INAUDIBLE) which it had had in position for a while and the affiliate of Goldman Sachs (INAUDIBLE)
Rosetta Stone (RST) off $2.13, Wall Street not liking the company's financial language. Profits were 12 percent lower than year ago levels. Executives said U.S. consumers are not spending on language products because of the recession.
Now onto the NASDAQ, Apple (AAPL) rose $0.31. Steve Jobs was named CEO of the decade by "Fortune" magazine.
Amazon.com (AMZN) jumped more than $5.50, the online retailer getting an upgrade from analysts at Bernstein. They see a price target of $160 on the shares.
Microsoft (MSFT) up a fraction. Steve Ballmer said yesterday that Windows 7 sales have been quote, fantastic with more revenues booked in 10 days than any other previous version of Windows.
Baidu (BIDU) advanced more than $13.
Google (GOOG) gaining nearly $2.50.
Research in Motion (RIMM) picked up $0.93.
Cisco Systems (CSCO) dropping $0.11.
Intel (INTC) up $0.04.
Directv (DTV) and Qualcomm (QCOM) both gaining a nickel.
Starbucks (SBUX) jumped $1.42. The turn on continuing there. Sale store sales were lower. Revenues were lower, but earnings more than doubled. CEO Howard Schultz says the chain is now shifting from cost- cutting mode to growth mode.
And finally, Freightcar America (RAIL) shares ran off the track, falling almost $4. The company did not see a single order during the entire third quarter compared to 2300 rail cars ordered in the year ago period. So if there's an economic recovery going on Susie, this builder of new freight rail cars has not seen that recovery yet.
That's a look at our stocks in the news tonight.
