Program: Friday, December 19, 2003
The
NASDAQ'S Banner Year
East meets West At CBOT
Everlast's Plan To Be Everalsting With Customers
Market Monitor-Randall Eley, President of the Edgar Lomax Company
Commentary: Charles Schultze, Senior Fellow at the Brookings Institution Offers His Predictions For 2004
Paul Kangas' Stocks In The News
Market Stats
12/19/03:
The NASDAQ'S Banner Year
SUSIE GHARIB: It was four in a row on Wall Street today, four winning days for the Dow and four winning weeks. The blue chip average rose 30 points, closing at 10,278, its highest level in 19 months. But the NASDAQ slipped 5 points as it struggles to break out of its current slump.
But as Suzanne Pratt reports, the NASDAQ has far outpaced the Dow this year.
SUZANNE PRATT, NIGHTLY BUSINESS REPORT CORRESPONDENT: You`ve heard the news, read the headlines. The Dow is now comfortably above 10,000. But despite investor focus on the blue chip index, that`s not the big story of the market recovery this year. The truly robust performance in 2003 has been by the NASDAQ. On a year to date basis, the tech heavy index is up a whopping 46 percent, while the Dow and S&P 500 are up both up just more than 20 percent.
Sure, one easy explanation for the NASDAQ`s performance is that in the most recent bear market tech stocks fell more than any other industry group.
JOSEPH MCALINDEN, MORGAN STANLEY INVESTMENT MANAGEMENT: The NASDAQ is very heavily weighted by information technology companies of various kinds. And they, of course, were the most oversold, most unloved a year ago, in the fall of 2002, and those stocks have had an enormous rebound.
PRATT: Another reason for the NASDAQ`s stellar gains is that tech stocks had solid profit growth this year. But lately investors have been questioning whether the NASDAQ will still rule in 2004. Already in the last few weeks, tech leadership has been cracking a bit, as other sectors such as mining and transportation have been taking over. And some experts say many tech names have simply gone too far too fast.
CHIP DIXON, CHIEF U.S. EQUITY STRATEGIST, LEHMAN BROTHERS: We think there`s better places to be, so we think the strong performance that techs had so far this year will not be duplicated.
PRATT: Still, others say there may be more at least a little more left in tech land in the coming months.
MCALINDEN: I think they`ll probably continue to rally into the early part of next year and then cool off, because they have had a very, very substantial recovery. The fundamentals are improving, but I think some time after the first quarter, they`re going to calm down and take a breather.
PRATT: The NASDAQ is 50 points shy of 2,000 and experts say even though we`ve crossed it before, that level is still an important one for investors. Many believe that once we`ve crossed 2,000, that will become the new floor for the NASDAQ.
Suzanne Pratt, NIGHTLY BUSINESS REPORT, New York.
Nightly Business
Report transcripts are available on-line post broadcast. The program
is transcribed by eMediaMillWorks. Updates may be posted at a later
date. The views of our guests and commentators are their own and
do not necessarily represent the views of Community Television Foundation
of South Florida, Inc. Nightly Business Report, or WPBT. Information
presented on Nightly Business Report is not and should not be considered
as investment advice. Copyright (c) 2003 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
12/19/03:
East meets West At CBOT
SUSIE GHARIB: The holidays arrived early at the Chicago Board of Trade. This week, China signed a huge order for American soybeans and is considering another large purchase. China`s becoming a big buyer on the world`s markets because of its rapidly growing economy.
And as Diane Eastabrook reports, the CBOT is aggressively courting China for future business.
DIANE EASTABROOK, NIGHTLY BUSINESS REPORT CORRESPONDENT: In the rough and tumble trading pits at the Chicago Board of Trade, East meets West. This week, 70 Chinese business and government leaders toured the trading floors of CBOT then got a crash course on commodities trading Chicago style. China got the red carpet treatment because it is becoming the largest importer of U.S. soybeans. Since the marketing year for the crop started September 1, China has purchased more than eight and a half million metric tons of soybeans from the U.S. That dwarfs the amount it purchased for all of last year.
The Chinese appetite for the oil seed is breathing new life into the agriculture pits at the Board of Trade. Speculation over China`s buying plans has been driving futures prices for soybeans up more than $2 over year ago levels.
VICTOR LESPINASSE, SOYBEAN TRADER, A.G. EDWARDS: We think they`re going to continue to be our biggest customer. So we think they are going to have a bullish impact on prices not just for coming weeks or months, but probably for coming years.
EASTABROOK: Rapid economic growth in China is driving the demand for soybeans. In recent years, China`s economy has been growing at about eight percent annually. Experts predict it will keep growing at that pace for several more years.
Economist Marvin Zonis says profound cultural changes will also have a huge impact on China`s imports.
MARVIN ZONIS, ECONOMICS PROFESSOR, UNIVERSITY OF CHICAGO: China is going to go through a major process of urbanization over the years ahead, which means that they`re going to have massive increases in industrialization and massive decreases in agriculture. China will become an even bigger importer of food than it is now.
EASTABROOK: But the United States isn`t the only commodities producer courting China. South America is also a huge exporter of soybeans. Still, the Chicago Board of Trade thinks its liquid markets and accessibility give it an edge with the Chinese.
BERNARD DAN, PRESIDENT & CEO, CBOT: I think what the role of the Board of Trade is to ensure the integrity of our marketplace. It`s open. We expanded our trading hours and really facilitate overnight trading through our electronic platform to serve Asia.
EASTABROOK: For now, the Board of Trade is focused primarily on selling soybeans to China. But the Exchange says down the road, Chicago could become the marketplace the Chinese come to buy other commodities, as well.
Diane Eastabrook, NIGHTLY BUSINESS REPORT, Chicago.
Nightly Business
Report transcripts are available on-line post broadcast. The program
is transcribed by eMediaMillWorks. Updates may be posted at a later
date. The views of our guests and commentators are their own and
do not necessarily represent the views of Community Television Foundation
of South Florida, Inc. Nightly Business Report, or WPBT. Information
presented on Nightly Business Report is not and should not be considered
as investment advice. Copyright (c) 2003 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
12/19/03: Everlast's Plan To Be Everalsting With Customers
SUSIE GHARIB: Well, it`s a classic lesson of marketing: the value of a brand. But what happens when a brand name is a century old and in danger of fading away? That was the question for the owners of Everlast, a brand associated with boxing. Boxing hasn`t been a growth sport for decades.
But as Jeff Yastine reports, Everlast is finding other ways to grow.
JEFF YASTINE, NIGHTLY BUSINESS REPORT CORRESPONDENT: The names of past boxing legends may become more obscure with time, but the brand name on their trunks and boxing gloves lives on: Everlast. Nearly every pro boxer has worn the brand in the company`s 80 year association with the sport.
On the boxing circuit, Everlast is still big. The company sponsors promising young boxers, like 22-year-old middleweight Jermaine Taylor, in the same way that Nike (NKE) sponsors NBA players. But the owner of the Everlast brand name hasn`t been content to limit sales just to the world of boxing. In an example of how an old brand can reinvent itself, the company has been busy putting its name on a lot of other kinds of athletic and leisure products, especially clothing. Everlast has emerged from a lightweight to a heavyweight in the world of branded workout clothing. And its biggest customers are not boxers or even men.
GEORGE HOROWITZ, CHAIRMAN & CEO, EVERLAST WORLDWIDE: It`s empowering. Our women`s business in apparel is bigger than our men`s business. And we targeted the women`s audience. And we make great product. And I think women really love to wear the brand. I mean it originally it certainly was a men`s brand. But it, you know, it stands for power and integrity and quality. And, you know, women love that and men love that.
YASTINE: George Horowitz bought the Everlast company in 2000 and has overseen the transformation of the brand name and a tripling of revenues to $65 million dollars last year. Most of the company`s business involves licensing deals, not actual manufacturing.
HOROWITZ: It helps our business in a lot of different ways. You know, we don`t carry the inventory. They`re the experts. We`re very much involved in the design and, of course, making sure it`s true to our brand. And we receive royalties, you know, minimum guarantees. And then the better they do, the better we do.
YASTINE: Long before there was Nike, there was Everlast. Marketers say the long history of the brand name is an advantage with today`s consumers.
JAMES DETTORE, CEO, BRAND INSTITUTE: It`s a dream come true to take a brand that has a great heritage, great benefits and attributes that are into the marketplace, or at least into the consumers` minds now, since they`ve been there for awhile, and now to drive those same benefits and attributes in its messages into a new marketplace.
YASTINE: The licensing deals are adding up: footwear, fragrances, even jewelry are some of the new additions to the Everlast product line. The company even has plans to open Everlast retail stores in China. Boxing is sometimes called the sweet science and Everlast hopes to capitalize with more sweet licensing deals.
Jeff Yastine, NIGHTLY BUSINESS REPORT, Miami.
Nightly Business
Report transcripts are available on-line post broadcast. The program
is transcribed by eMediaMillWorks. Updates may be posted at a later
date. The views of our guests and commentators are their own and
do not necessarily represent the views of Community Television Foundation
of South Florida, Inc. Nightly Business Report, or WPBT. Information
presented on Nightly Business Report is not and should not be considered
as investment advice. Copyright (c) 2003 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
12/19/03: Market Monitor-Randall Eley, President of the Edgar Lomax Company
PAUL KANGAS: My guest market monitor this week is Randall Eley, President of the Edgar Lomax Company, an investment advisory firm based in Springfield, Virginia.
Randall, welcome back to NIGHTLY BUSINESS REPORT. Great to see you.
RANDALL ELEY, PRESIDENT, THE EDGAR LOMAX COMPANY: Thank you. And it`s good to see you, Paul.
KANGAS: For some time now, you have characterized the sizable gains in the U.S. stock market as a cyclical or short-term bull market within a framework of a secular or long-term bear market. Do you still hold that opinion?
ELEY: I certainly do and I hope I`m not sounding like a broken record. But we look at valuations based on net worths of companies or book value or the earnings potential. And the fact is that earnings potential is just not going up with the prices.
KANGAS: So you feel the market in general is overvalued?
ELEY: Yes, quite overvalued.
KANGAS: But your strategy is to buy the stocks that are relatively under valued, that is relative to the overall market, correct?
ELEY: That`s right. In the long run, we`re trying to get the best return that we can. And wherein historically you might project earnings between nine and 10 percent on stocks, right in here I think maybe five percent is about the best we can expect over the next 10 years. And that`s per year.
KANGAS: When you were with us in early June, you said the Dow is going to go higher and you`d be surprised if it got as high as 10,500.
ELEY: That`s right.
KANGAS: Is that a major resistance area in your mind?
ELEY: I think it will present some sort of a resistance level simply because percentage wise, that`s as much as the Dow has gone up from a low since it reached its peak in April of 2000.
KANGAS: OK.
ELEY: But the fact of life is the Federal Reserve is holding interest rates so low at this point, I now think in 2004, with it being a presidential election year, we could go higher.
KANGAS: OK. Maybe test the old record high, is that what you`re saying?
ELEY: That`s right.
KANGAS: OK.
ELEY: I think it`s possible at this point.
KANGAS: Well, in that early June visit you recommended seven stocks to our viewers. And I`m delighted to say that five of the seven are higher. You recommended Exxon Mobil (XOM) at $37. It`s now nearly $40. Altria Group (MO) at $43. it`s up to almost $55. And then you saw ChevronTexaco (CVX) go from $74 to $83. Dupont (DD) is up about a 1 1/2 points. Those are all winners.
ELEY: Yes.
KANGAS: Kodak (EK) is not a winner. That`s a major loser there.
ELEY: Yes, it has (UNINTELLIGIBLE).
KANGAS: Are you still with it?
ELEY: Kodak is the one that we`re going to sell this time around.
KANGAS: OK. And General Motors (GM) has done exceedingly well, from $35 to over $50.
ELEY: Yes.
KANGAS: And then we`ve got Merck (MRK). That was the other clinker out of the seven.
ELEY: That`s right. In fact, I`d like to point out, Paul, that we have an anomaly here that this is the first time I think in all these portfolios we chose two stocks, Eastman Kodak and Merck, that were the worst performing stocks in the Dow 30. But the beauty of having a diversified portfolio, still this portfolio was up over nine percent.
KANGAS: That`s very good.
ELEY: And this is, yes, this is with the S&P being up 11 now, but still, not bad at all, at least in our opinion.
KANGAS: So you still hold all of the stocks?
ELEY: Yes, we do.
KANGAS: And would you be buying any more of those seven stocks?
ELEY: Right. Well, we would replace Eastman Kodak, if you`ll forgive me, we will replace Eastman Kodak with AT&T (T).
KANGAS: OK. But let`s talk about the seven that you recommended.
ELEY: That`s right.
KANGAS: Merck, what about Merck, the other loser? Would you like that?
ELEY: Now, Merck we would be buying even more than the others because Merck is down somewhere --
KANGAS: Boy is it. We`re looking at a chart and it is down.
ELEY: That`s right, somewhere between 15 and 16 percent. So here is a stock we can guy at a P/E ratio of 14, with the S&P`s P/E being in the neighborhood 28, and a dividend yield of 3.3 percent. I mean so that`s a pretty good projected return.
KANGAS: And that drop has to take into the account of a spin-off of its Medco (MHS) subsidiary.
ELEY: That`s right. That`s right.
KANGAS: OK, now that`s the one out of the seven you would buy.
ELEY: That`s right.
KANGAS: But what about new recommendations?
ELEY: Right.
KANGAS: We just have about a half minute left.
ELEY: All right. And that`s where we get back to AT&T. And that has a dividend yield of five percent and a p/e ratio of seven, believe it or not, and it`s doing better in its earnings.
KANGAS: So you like AT&T at this price level, just below $20.
ELEY: That`s right. And let me also point out, Paul, that we own all these stocks for our clients and our shareholders. In fact, we would not recommend stocks that we don`t buy.
KANGAS: That you don`t own yourself?
ELEY: That`s right.
KANGAS: OK, that`s, I`m glad that you disclosed that to us. Appreciate it.
ELEY: Certainly.
KANGAS: And we`ll keep a close eye on those seven, well, those six. You don`t like Kodak, but Merck, yes, and AT&T.
ELEY: That`s right.
KANGAS: Thanks very much for being with us.
ELEY: And thank you for having me back.
KANGAS: A pleasure. My guest market monitor this week, Randall Eley, President of the Edgar Lomax Company.
Nightly Business
Report transcripts are available on-line post broadcast. The program
is transcribed by eMediaMillWorks. Updates may be posted at a later
date. The views of our guests and commentators are their own and
do not necessarily represent the views of Community Television Foundation
of South Florida, Inc. Nightly Business Report, or WPBT. Information
presented on Nightly Business Report is not and should not be considered
as investment advice. Copyright (c) 2003 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
12/19/03: Commentary: Charles Schultze, Senior Fellow at the Brookings Institution Offers His Predictions For 2004
SUSIE GHARIB: Right about this time of year, we`re hearing predictions for how business and the economy will fare next year. Tonight`s commentator also has a prediction.
He`s Charles Schultze, Senior Fellow at the Brookings Institution.
CHARLES SCHULTZE, COMMENTARY: Corporate profits have been growing rapidly and should continue to rise in the year ahead. Last quarter, business output and sales rose dramatically, but output per worker also soared. And business firms raised output without adding many workers to their payrolls, while wage gains continued to be moderate. And so a hefty slice of the growth and business revenues fell right to the bottom line. Corporate profits rose by 15 percent in one quarter.
Economic growth won`t continue at its recent torrid pace. But the GDP should still expand by a healthy four percent or more in the year ahead. The unusually strong productivity growth of the last several years is likely to taper off, but probably that won`t happen all at once. Employment will grow, but only slowly. And the labor market will remain loose, at least for awhile, so wage growth should continue to be moderate, even as the economy expands.
The unusually large excess capacity we inherited from the recession will exert competitive restraint on profit margins. But, on balance, profits should grow nicely for a while. And that will bolster the expansion in business investment, which has just gotten underway.
Eventually, more of the growth in income is going to have to be channeled into higher employment and take home wages so that consumer spending can keep pace. But that`s a problem to worry about down the road.
I`m Charles Schultze.
Nightly Business
Report transcripts are available on-line post broadcast. The program
is transcribed by eMediaMillWorks. Updates may be posted at a later
date. The views of our guests and commentators are their own and
do not necessarily represent the views of Community Television Foundation
of South Florida, Inc. Nightly Business Report, or WPBT. Information
presented on Nightly Business Report is not and should not be considered
as investment advice. Copyright (c) 2003 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
12/19/03:
"Paul Kangas' Stocks In The News"
PAUL KANGAS: Wall Street opened on a mixed note, with the blue chips following through on yesterday`s rally, while a weak semiconductor sector dragged the NASDAQ market down.
After a half hour of trading, the Dow was up 10 points, the NASDAQ down 10.
The Dow remained buoyant on a brokerage upgrade on ALCOA (AA), but the broader market briefly sold off on reports of a possible terrorist threat in New York City, which later proved to be unfounded.
At noontime, the Dow was up 40 points, the NASDAQ still down about 10.
That pattern persisted throughout the afternoon on added volatility due to the quarterly expiration of options and futures, which is called the quadruple witching.
The Dow Jones Industrial average closed with a gain of 30.14 points, at 10,278.22. And this week the Industrial average rose in four out of the five sessions, for a gain of 236.06 points, or 2.4 percent.
The NASDAQ Composite today down 5.16 points, to 1,951.02. For the week, it rose twice and fell three times, but still managed to gain two points.
The Standard & Poor`s 500 Index dropped a 1/2 point today, to 1,088.66.
In the bond market, the 10-year note fell 2/32, to par and 29/32, putting the yield at 4.14 percent.
The most active New York Exchange issue on 26.8 million shares, EMC Corporation (EMC) moving up $0.15. Today, the company completed the acquisition of Documentum (DCTM).
Pfizer (PFE), second in volume, down $0.17.
Followed by Time Warner (TWX), up $0.23. The company`s "Lord of the Rings" movie looks like it`s going to be a major success.
AT&T Wireless (AWE) dropped $0.09.
Fifth in volume was General Electric (GE), moving up $0.04.
Exxon Mobil (XOM) up $0.19 on strong oil prices these days, and that is a new 18 month high for Exxon`s stock.
Citigroup (C) was up $0.38.
Lucent Technologies (LU) a $0.03 loss.
Texas Instruments (TXN), in that weak semiconductor group, down $0.54.
Tenth in volume was Nokia (NOK), losing $0.17.
ALCOA (AA), one of the Dow stocks, traded as high as $37.90 this morning after Morgan Stanley upgraded it from "equal weight" to "over weight." It closed up nearly a $1.
Colgate Palmolive (CL) down another $1.11 after losing over $3.50 yesterday on concern the company might be paying too much for the Swiss oral care company called GABA Holdings. And the price mentioned is about $725 million.
Roto Rooter (RRR), it looks like the orders were backed up to buy the stock today, up $9.24. The company is going to acquire the 63 percent it doesn`t already own of hospice owner Vitas Healthcare. The price? $410 million.
And then Tektronix (TEK) up $3.38. Second quarter earnings fourfold what they were last year, $0.42 versus $0.10 then. And that was partly due to a gain related to a pension plan of its recently acquired Japanese unit. But the CEO of Tektronix sees earnings growth outpacing revenue growth for the next two quarters.
K2 Incorporated (KTO) up $1.30. The recreational gear retailer came in with 2003 earnings estimated at $0.57 per share. And that`s about $0.03 above the Wall Street estimate.
Robbins & Myers (RBN) fell $3.48. The company is involved in fluids management and the Baird Brokerage downgraded it from "neutral" to "under perform" after Robbins Myers cut 2004 earnings guidance.
Church & Dwight (CHD) down $1.70. CIBC World Markets Brokerage downgraded it from "sector outperform" to "sector perform."
And then Maverick Tube (MVK) down $2.34. The company says it has to increase prices for its tubular products in order to offset the rising costs of steel. But there is some concern if those price hikes may stick or not.
And Freeport McMoRan Copper & Gold (FCX) down $2.25. The Morgan Stanley Brokerage downgraded it from "equal weight" to "under weight."
The most active NASDAQ issue, Microsoft (MSFT), fell $0.04.
Followed by Intel (INTC), a $0.33 loss there.
Cisco (CSCO) down $0.38.
Dell Incorporated (DELL) dropped $0.19.
But finally a gainer, Applied Materials (AMAT) managed to edge $0.02 higher, number five in volume.
eBay (EBAY) was up $1.37.
Oracle Corp. (ORCL) down $0.24.
Qualcomm (QCOM) a $0.45 loss.
Amgen (AMGN) was up $0.26.
And a big gain for Red Hat (RHAT), up $3.21. Third quarter earnings of $0.02 reported today versus break even last year. Revenues jumped 36 percent and the company`s growth outlook is strong for its Linux software.
Then we had an initial public offering on NASDAQ, Kintera (KNTA). This is a software firm. Offered five million shares to the public at $7 a share. The stock opened at $7.96. The high of the day $11, and then it backed off $0.30, but still a good first day of trading.
And then Atlantic Coast Airlines (ACAI) dropping $1.56, almost a 15 percent drop. The problem here, there is concern that the company`s $525 million takeover by Mesa Air Group (MESA) may be in jeopardy.
And those are the stocks in the news tonight.
Nightly Business Report transcripts
are available on-line post broadcast. The program is transcribed
by eMediaMillWorks. Updates may be posted at a later date. The views
of our guests and commentators are their own and do not necessarily
represent the views of Community Television Foundation of South
Florida, Inc. Nightly Business Report, or WPBT. Information presented
on Nightly Business Report is not and should not be considered as
investment advice. Copyright (c) 2003 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
12/19/03:
Market Stats
NET PERCENT
CLOSE CHANGE CHANGE
DOW CLOSE 10278.22 +30.14 + .3
HIGH 10293.19
LOW 10230.08
NASDAQ COMP. 1951.02 -5.16 -.3
HIGH 1963.28
LOW 1939.56
VOLUME 1,590.1
PREVIOUS 1,559.5
UP VOLUME 797.7
DOWN VOLUME 756.5
DOW TRANSPORTS 2987.43 +.27 + .0
DOW UTILITIES 261.36 +.76 + .3
CLOSING TICK +741
S&P 500 1088.67 -.51 - .1
S&P 100 540.26 -.23 - .0
MIDCAP 400 568.08 -.48 - .1
REUTERS/CRB 260.87 -.27 - .1
NYSE COMPOSITE 6284.30 -3.75 - .1
VALUE LINE 354.57 +.18 0.05
RUSSELL 2000 546.88 -.02 -0
WILSHIRE 5000 10579.46 -3.36 -0.03
U.S. TREASURIES
5-YEAR NOTE 3.375%
Nov. 15,2008 101 unch. 3.15
10-YEAR NOTE 4.25%
Nov. 15,2013 100 29/32 -2/32 4.14
30-YEAR NOTE 5.375%
Feb. 15, 2031 106 1/32 -10/32 4.97
LEHMAN BROS.
LONG BOND INDEX 1751.68 +8.00
DOW CLOSE 10278.22 +30.14 + .3
ADVANCES 1682
DECLINES 1574
NEW HIGHS 369
NEW LOWS 9
NET PERCENT
NYSE MOST ACTIVES 4PM CLOSE CHANGE CHANGE
EMC EMC Corp 13.00 +.15 +1.2
PFE Pfizer 34.27 -.17 -.5
TWX Time Warner 18.10 +.23 +1.3
AWE AT&T Wireless 7.35 -.09 -1.2
GE GE 30.89 +.04 +.1
XOM Exxon Mobil 39.60 +.19 +.5
C Citigroup 48.27 +.38 +.8
LU Lucent Tech 2.90 -.03 -1.0
TXN Texas Instrument 28.34 -.54 -1.9
NOK Nokia Corp 17.14 -.17 -1.0
NASDAQ CLOSE 1951.02 - 5.16 - .3
VOLUME 1,879.9
PREVIOUS 1,721.2
ADVANCES 1505
DECLINES 1696
NASDAQ ACTIVES
MSFT Microsoft 27.36 -.04 -.2
INTC Intel 30.57 -.33 -1.1
CSCO Cisco Systems 23.79 -.38 -1.6
DELL Dell Inc 33.33 -.19 -.6
AMAT Applied Matl 21.86 +.02 +.1
EBAY eBay 61.37 +1.37 +2.3
ORCL Oracle 13.09 -.24 -1.8
QCOM Qualcomm 51.03 -.45 -.9
AMGN Amgen 61.85 +.26 +.4
RHAT Red Hat 17.49 +3.21 +22.5
AMEX CLOSE 1144.28 + 1.43 + .1
INDEX SHARES
DIA DIAMONDS TRUST 102.74 +.08 +.1
QQQ NASDAQ 100 35.42 -.10 -.3
SPY S&P DEP.RECEIPTS 108.93 -.27 -.3
STOCKS IN THE NEWS
AA Alcoa 37.30 +.92 +2.5
CL Colgate Palmolive 49.19 -1.11 -2.2
RRR Roto Rooter 44.52 +9.24 +26.2
TEK Tektronix 31.05 +3.38 +12.2
KTO K2 Inc 15.40 +1.30 +9.2
RBN Robbins & Myers 18.75 -3.48 -15.7
CHD Church Dwight 39.15 -1.70 -4.2
MVK Maverick Tube 18.65 -2.34 -11.2
FCX Freeport-McM 41.27 -2.25 -5.2
KNTA Kintera 10.30 +3.30 +47.1
ACAI Atlantic Coast 8.89 -1.56 -14.9