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09/15/04:
OPEC, Iraq, & Ivan Spells Triple Trouble For Oil
JEFF YASTINE: It was a day of warnings for Wall Street as stocks lost ground on a big-name profit warning, the storm warnings ahead of hurricane Ivan, and warnings about higher energy prices from OPEC. The Dow Jones Industrial Average falling 86 points and the NASDAQ lost almost 20. And as Scott Gurvey explains, it was also a volatile day of trading in the New York oil pits.
SCOTT GURVEY, NIGHTLY BUSINESS REPORT CORRESPONDENT: Crude oil futures spiked to more than $45 a barrel in today`s trading after the Energy Department shocked traders with an unexpectedly low report on available supplies.
RAY CARBONE, PRESIDENT, PARAMOUNT OPTIONS: Today`s oil market is being driven by the inventory numbers released this morning that showed a larger than anticipated draw down in the inventories, quite larger. We were expecting about 1.5 to two million down and we went down over seven million.
GURVEY: In truth, low inventories are only one of several problems facing energy supplies. From the Gulf to Iraq to Saudi Arabia, the news all points to higher prices for oil.
PETER ROSENTHAL, WASHINGTON BUREAU CHIEF, ARGUS MEDIA: What`s not affecting it? You`ve got a hurricane in the Gulf of Mexico just shutting production of at least a million barrels a day and is already leading to several refineries in the area to close. You`ve got continued terrorism concerns in the Middle East with violence in Iraq. OPEC met today and although it raised its production ceiling, it is unlikely it`s going to add too much new oil to the market.
GURVEY: Of all the problems, hurricane Ivan is probably the biggest at this moment. Already the big oil companies have evacuated nearly 400 pumping platforms in the Gulf. Processing plants and refineries on land in the path of the hurricane have also shut down. At least one million barrels of daily oil production has been cut, as well as some four billion cubic feet per day of natural gas production. Traders say they expect crude prices to come off these highs once the hurricane threat passes, but they believe the relief will be only temporary with the winter heating season approaching.
CARBONE: The general consensus is, if we do get a pull back and we certainly could have one, it is probably a buying opportunity. Demand is just too strong for oil to drop in any meaningful way below $40, significantly below $40. I don`t see it happening.
GURVEY: Higher energy prices are expected to have a negative impact on corporate profits and they will be a drag on economic growth if they remain at current levels. Scott Gurvey, 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.
09/15/04:
The Role of The Tax Reform Effort & The Road To The White House
PAUL KANGAS: The agony of tax season has the president already making a campaign promise to simplify the tax code. Presidential candidate John Kerry wants to close tax loopholes and George Bush is calling for a complete overhaul. But as Darren Gersh reports, most things in Washington are easier said than done.
DARREN GERSH, NIGHTLY BUSINESS REPORT CORRESPONDENT: Tax reform is a classic second-term presidential agenda item. If he is reelected, President Bush promises to appoint a bipartisan commission on tax reform.
GEORGE W. BUSH, PRESIDENT OF THE UNITED STATES: We`re going to make it easier to understand and we`re going to simplify it. This tax code of ours is too complicated.
GERSH: Sometimes, tax reform makes it on to the agenda of a first-term president. Senator John Kerry promises if elected, to overhaul the corporate tax code, ending subsidies for companies that move jobs overseas.
SEN. JOHN KERRY, DEMOCRATIC PRESIDENTIAL NOMINEE: We believe that American workers should never have to subsidize the loss of their own jobs.
GERSH: Eugene Steuerle was a key player behind the scenes in the 1986 tax reform effort. He says the time might be right for another overhaul now because Congress needs to stop the advance of the alternative minimum tax. Originally designed to trap the rich, the AMT is now forcing millions of middle class taxpayers to make complex calculations that reduce tax breaks for children and state and local taxes.
EUGENE STEUERLE, URBAN INSTITUTE: No politician eventually is going to be able to live with this growing number of taxpayers being thrown on to the alternative minimum tax.
GERSH: Pam Olson was the Bush administration`s top tax expert at the Treasury. She says there is also bipartisan agreement that the current system isn`t working.
PAMELA OLSON, FORMER ASSISTANT SECRETARY FOR TAX: It really is having a depressing effect on the economy and we could do better than the current code.
GERSH: But sweeping tax reform means millions of tax payers may lose their cherished tax breaks. And the most dramatic fixes-- say, a national sales tax or a flat tax -- require wrenching changes that introduce new complexities.
OLSON: If I were going to put money on it, I would guess that the most likely outcome is more in the way of incremental changes to the current system to make the current system function better than it currently does.
GERSH: One place to start is with the people who write the tax laws. Faced with massive budget deficits, both Democrats and Republicans have used the same tactic: crafting a tax cut to do what a spending program used to.
STEUERLE: Then they go to the public and say, "ah, ha! We haven`t increased spending, we`ve decreased taxes."
GERSH: But that`s a solution that no longer works with deficits projected as far as the eye can see. Darren Gersh, NIGHTLY BUSINESS REPORT, Washington.
YASTINE: The Bush campaign may hold a slight lead in recent polls, but our next guest thinks the race will remain a contest that`s much closer than many on Wall Street are expecting. As our "road to the White House" coverage continues, we talk with Greg Valliere, chief political strategist at Charles Schwab`s Washington research group and he joins us now from our Washington bureau. Welcome back to NIGHTLY BUSINESS REPORT, Greg.
GREG VALLIERE, CHIEF POLITICAL STRATEGIST, SCHWAB SOUNDVIEW CAPITAL MARKETS: Great to see you Jeff.
YASTINE: You wrote a commentary on the Schwab website in late August. You said you believe President Bush quote, to be a very very shaky favorite at this time. The Democratic challenger Senator John Kerry surely could wind this race. Is that still the case in your opinion?
VALLIERE: Well, since we wrote the piece, I think you`ve got to say that Kerry campaign has lost momentum. They`re not really getting much traction on any issue. That said, Jeff, I must admit I`ve been surprised in the last week or so to hear professional investors say almost unanimously that they think Bush will win and might win comfortably. That is not my opinion. I think he`s still a favorite, but we broke down the electoral college map and came up with 284 votes. You need 270 to win. That`s hardly a land slide.
YASTINE: So it`s a horse race right to the end as far as you`re concerned?
VALLIERE: I think the numbers are going to narrow a bit further. I didn`t believe the polls that showed Bush ahead by 11 right after the convention. I think the president probably is ahead by 4 or 5, maybe even 6 points, but I wouldn`t be surprised to see those numbers tighten up again over the next few weeks.
YASTINE: The readings on the economy are as conflicted it seems as a lot of voters are. The economic data seems poor lately the last handful of months and yet the markets have seemed to hold in there pretty well. They`re basically at just above or just below break even levels. How much is that having an impact on the campaigns and on voters` opinion?
VALLIERE: I think that`s having an impact as well. Oil, which you led your evening news with, is a big big story and I think that continues to hang over everything. It hangs over the stock market, the economy, even the presidential election.
YASTINE: Let`s presume something, a scenario here as far as a Kerry presidency. How is that likely to affect Wall Street, again, in your opinion?
VALLIERE: Well, a couple points I`d make quickly. The first is people think that a Kerry presidency would be great for the bond market because he does care about deficits and he talks to Bob Rubin, but I think it`s based on a flawed premise and the premise is that Kerry could undo the Bush tax cuts. That is virtually impossible in my opinion because the House will stay Republican. I think everybody in both parties agrees with that. So not only would Kerry be unable to undo the Bush tax cuts, I think his spending proposals are even more ambitious than Bush`s. So how that would help the bond market is beyond me. The second point I`d make is that there would be an impact I think if Kerry won on several regulatory fronts. In general I think Kerry would be more confrontational, more adversarial with his regulatory policies than the Bush administration.
YASTINE: Greg, I`ve got about 40 seconds. What about a second term for President Bush?
VALLIERE: I think he`d try to make the tax cuts permanent, but I have real doubts on whether he can get the estate tax and top rate of 35 percent made permanent. He may try some retirement reform. I think he`ll try spending restraint. But I would just conclude, Jeff, by saying that whoever wins, I think still has to face gridlock, this paralysis, this inability to get things done.
YASTINE: Got about 15 seconds. Do you think the deficit becomes an issue at some point after the election?
VALLIERE: Sure it will, and I think both candidates would do something. But before the election I think both will be very vague about talking about any painful prescriptions.
YASTINE: All right. We`ll end it there, Greg, we appreciate your time on the program.
VALLIERE: My pleasure.
YASTINE: Our guest: Greg Valliere of Schwab Soundview Capital Markets.
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.
09/15/04:
Martha Stewart Wants To Serve Time Now
JEFF YASTINE: Martha Stewart is biting the proverbial bullet, announcing today she will turn herself in to Federal authorities to begin her prison sentence. At a news conference at her company`s headquarters, Stewart said she hoped to begin her sentence right away. Stewart will serve five months in prison and then five months of house arrest. A Federal judge had allowed her to remain free while appealing her conviction on lying about a stock trade, but Stewart says it is time to put what she calls quote, this nightmare end quote, behind her.
MARTHA STEWART, FOUNDER, MARTHA STEWART LIVING OMNIMEDIA: I fully understand the importance of closure, not only to my family, friends and supporters, but especially to our loyal and caring employees, our loyal and steadfast advertisers, our wonderfully supportive business partners. It has been a trying and long ordeal for all of us. And it is time to get it all behind us, behind me, so we can move forward.
YASTINE: Stewart`s legal team says the decision to begin serving time was her idea, because her, certainly her sentencing would not have been - her appeal would not have been heard until late next year.
KANGAS: Actually, investors applauded the news a little bit. The stock was up $0.12 to close at $11.26 a share.
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.
09/15/04:
Coke's Earnings Warning Leaves Investors Flat
PAUL KANGAS: Coca-Cola warned Wall Street today that its earnings won`t meet analyst estimates in the second half of the year. The soft drink giant now expects third quarter results of $0.46 to $0.48 a share. That`s well below the $0.54 the Street was expecting. Coke also sees lower fourth quarter earnings. The company`s new chairman, Neville Isdell, says Coke is seeing unfavorable volume trends in North America and Europe and that sales of its newest product, the much anticipated "C2" lower carbohydrate cola, are flat.
Joining me now to talk more about that warning is Matthew Reilly, equity analyst at Morningstar and welcome to the program Matt.
MATTHEW REILLY, EQUITY ANALYST, MORNINGSTAR: Thanks for having me.
KANGAS: As an analyst who closely follows the beverage companies, especially Coca-Cola, what are the major problems behind today`s Coca-Cola warning?
REILLY: I think that their issues of pricing a little bit too high and pushing down their volumes was really the main problem with the results today. It wasn`t a huge surprise. Coca-Cola Enterprises, their largest bottler, about a week ago warned that volumes in North America and Europe were going to be soft.
KANGAS: Has the firmness in the dollar aggravated the problem in Europe a bit?
REILLY: They have. Actually last year Coke got quite a nice hit from the weak dollar, and that is really evaporating so far this year.
KANGAS: It`s been reported that Pepsi is taking market share away from Coke. Is that the case?
REILLY: Pepsi has been very very good in noncarbonated beverages. They have taken - really taken the lead in that area and in many ways eaten Coke`s lunch in that respect. Coke has been a bit slow to actually respond to that. One of the more hopeful things from today`s press conference from Neville Isdell, co-CEO was that there is really a renewed sense of urgency about the non-carbonated business and the fact that they realize they have to grow it and that it will be a very important part of the beverage industry going forward.
KANGAS: Are private label beverages a major problem for Coke?
REILLY: Private labels are gaining share in many markets, Germany they`re a problem because of a bottle deposit law especially. They are gaining popularity in America as well, but they are about 12 percent of the overall market right now. So while they are gaining some share, they`re not a major, major concern yet.
KANGAS: How do you rate Coca-Cola`s stock now, as a hold, a sell, a buy?
REILLY: We have a "strong buy" on it. It`s actually a five-star stock for us. We think it`s a buying opportunity right now. But we would temper that by saying that it`s not something that is a short term investment. A lot of what came out today is the fact that their problems are bit more medium term. So 18 to 24 months we`d say minimum, if you`re looking to really make a nice return on your investment in Coke. And we are long term value investors, so we would encourage even longer time horizons than that.
KANGAS: So their problems are going to take a little while to resolve, but for a long term viewpoint, Coke is a good stock to buy you`re saying?
REILLY: Absolutely. We think that there`s some management issues and they acknowledge that. There`s really a deficit of managerial talent.
KANGAS: OK. Matt, I just wanted to ask you, we just have a few seconds. Do you own any of the stock or have any conflict with the company?
REILLY: I don`t own the stock at all and we have no investment banking relationship.
KANGAS: All right, there we have it. At least there`s hope ahead as far as Matt Reilly is concerned. Thanks very much.
REILLY: Thank you.
KANGAS: My guest: Matthew Reilly of Morningstar.
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.
09/15/04:
"Money File"-The Good, The Bad & The Ugly of the Mutual Fund Scandal
JEFF YASTINE: In the money file tonight, an accounting of the positive and negative fallout from the mutual fund scandals on Wall Street. Here`s Chuck Jaffe, senior columnist of CBS "Marketwatch."
CHUCK JAFFE, SENIOR COLUMNIST, CBS MARKETWATCH: Improper trading scandals hit the mutual fund world just over a year ago, and that makes it time to check the scoreboard to see what investors have gained and what they`ve lost in the scrap between fund firms and regulators. On the plus side, new rules require mutual funds to say how managers are compensated, whether managers invest in their own fund, and more.
On the down side, the new information is only as good as an investor makes it, and few people will pay more attention to the new data than they did the old. What`s more, none of that new information actually makes it easier for you to select a good mutual fund. On the plus side, many fund firms have cut fees as a part of their settlements, ensuring that investors who stick with those fund companies will get some financial benefit. On the down side, to get that benefit, you have to stay with a fund company that has done investors wrong.
On the up side, the role of independent directors and compliance officers has increased. That should be a positive, but it`ll take years to prove it. On the up side, punishments have been steep enough so that the fund world will work that much harder to stay clean. On the down side, investors have lost trust and no punishments or rules changes can fix that. In the end, it`s almost a tie. Investors are better off with more data and with funds operating beyond reproach, but their confidence was too big a price to pay to achieve that. I`m Chuck Jaffe.
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.
9/15/04:
"Paul Kangas' Stocks In The News"
PAUL KANGAS: Coca-Cola warned Wall Street today that its earnings won`t meet analyst estimates in the second half of the year. The soft drink giant now expects third quarter results of $0.46 to $0.48 a share. That`s well below the $0.54 the Street was expecting. Coke also sees lower fourth quarter earnings. The company`s new chairman, Neville Isdell, says Coke is seeing unfavorable volume trends in North America and Europe and that sales of its newest product, the much anticipated "C2" lower carbohydrate cola, are flat. Later in the program, I`ll speak with Morningstar`s Matthew Reilly, who covers Coke.
That warning from Coke took the fizz out the blue chips early today, as did another rise in oil prices. Making the sell-off deeper was Goldman Sachs` downgrade of the software sector. By mid-morning, the Dow was down just over 70 points and the NASDAQ Index down 18.
More earnings warnings overpowered a late day drop in oil prices so stocks ended near their lows of the day. The Dow Jones Industrial Average closed off 86.80 points at 10,231.36. The NASDAQ Composite fell 18.88 ending at 1,896.52. Standard & Poor`s 500 Index lost almost eight points to close at 1,120.37. In the bond market, the 10-year note fell 10/32, putting the yield at 4.17 percent.
Big board volume leader on 34.4 million shares, Lucent Technologies (LU), third straight day has topped the active list. It was up - I should say down, $0.09 today.
Then came Coca-Cola (KO) down $1.71, traded as low as $40.39. Of course Merrill Lynch downgraded it from "buy" to "neutral" because Merrill apparently sees no quick fixes for the company`s earnings problems. This affected other major beverage stocks like Pepsico which fell $1.03 to 49 1/2.
Pfizer (PFE) down $0.27.
$0.37 loss in EMC Corporation (EMC).
NorTel Networks (NT) down $0.22, a winner on that first board or on the second one here.
Texas Instruments (TXN) off $0.54.
Followed by General Electric (GE) with a $0.29 loss.
Time Warner (TWX) losing $0.14.
SBC Communications (SBC) fell $0.56.
And Hewlett-Packard (HPQ) completing this torrent of minus signs, down $0.12 a share, tenth in volume.
Best Buy (BBY) turned against that downtrend with a gain of $2.32. Second quarter earnings $0.46, nicely above $0.42 last year. Revenues up 13 percent. The company sees very positive results coming from its upgrading of stores and services.
Celestica (CLS) was a major loser, down $1.97 or 13 1/2 percent. The company cut its third quarter earnings estimate from the $0.11 to $0.17 range down to only $0.07 to $0.11 range.
Benchmark Electronics (BHE) was down in sympathy with that news from Celestica down $3.43.
And then American Medical Security Group (AMZ), the big gainer of the day, up $8.67. PacifiCare Health Systems (PHS) will acquire this company for $32.75 a share in cash and this had a very positive effect on PacifiCare stock too, up $1.92 because it says the acquisition of American Medical Security will actually add to its earnings as early as next year.
Gottschalks (GOT), the department store chain, up $1.09. The company sees 50 percent growth rate in its annual earnings through the year 2006.
Callaway Golf (ELY) in the hole by $2 today. The company has suspended its third quarter and full year earnings guidance because of delays in product launches and concern about retail reorders. Tough days for Callaway.
Lithia Motors (LAD) the auto dealership up $1.02. Morgan Stanley upgraded the stock from "equal weight" to "over weight."
The volume leader on NASDAQ was TASER International (TASR), look at that jump, up $7.74. Regulators in both England and Wales have authorized the use of the company`s stun guns by police.
Oracle (ORCL) up $0.78. After the markets closed yesterday, first quarter earnings came in at $0.10, a penny above the Street estimate and up from $0.08 last year and the company sees second quarter earnings coming in at $0.13.
Microsoft (MSFT) dropped $0.25.
Cisco Systems (CSCO) losing $0.79.
And then Intel (INTC) a $0.35 loss there, fifth in volume.
eBay (EBAY) dropped $0.36.
Finally a gainer, Research In Motion (RIMM) up $1.39. UBS Securities upgraded it, I should say boosted its earnings target by $10 a share to $85.
And Google (GOOG), $0.51 rise there.
Yahoo! (YHOO) was down $0.30.
And Applied Materials (AMAT) fell $0.45, tenth in volume.
Xilinx (XLNX) off $1.54. The company sees its second quarter revenues falling 5 to 7 percent rather than an earlier estimate of a 2 to 4 percent drop.
And finally we see Cyberonics (CYBX) jumping $4.32 after getting a $22 per share cash and stock buyout offer from Advanced Neuromodulation Systems.
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.
09/15/04:
Market Stats
NET PERCENT
CLOSE CHANGE CHANGE
DOW CLOSE 10231.36 -86.80 - .8
HIGH 10317.05
LOW 10228.78
NASDAQ COMP. 1896.52 -18.88 -1.0
HIGH 1908.38
LOW 1892.08
VOLUME 1,255.9
PREVIOUS 1,199.4
UP VOLUME 333.0
DOWN VOLUME 903.4
DOW TRANSPORTS 3215.75 -9.25 - .3
DOW UTILITIES 291.63 +.42 + .1
CLOSING TICK +681
S&P 500 1120.37 -7.96 - .7
S&P 100 542.63 -4.30 - .8
MIDCAP 400 588.11 -3.17 - .5
REUTERS/CRB 273.09 -.30 - .1
NYSE COMPOSITE 6546.32 -47.89 - .7
VALUE LINE 358.06 -2.66 - .7
RUSSELL 2000 568.52 -2.44 - .4
DJW 5000 10912.85 -69.53 - .6
U.S. TREASURIES
5-YEAR NOTE 3.375%
Sept. 15,2009 99 31/32 -7/32 + 3.38
10-YEAR NOTE 4.25%
Aug. 15,2014 100 22/32 -10/32 + 4.17
30-YEAR NOTE 5.375%
Feb. 15, 2031 106 2/32 -16/32 + 4.96
LEHMAN BROS.
LONG BOND INDEX 1748.45 -6.89
DOW CLOSE 10231.36 -86.80 - .8
ADVANCES 1325
DECLINES 1929
NEW HIGHS 91
NEW LOWS 13
NET PERCENT
NYSE MOST ACTIVES 4PM CLOSE CHANGE CHANGE
LU Lucent Tech 3.32 -.09 -2.6
KO Coca-Cola Co 41.16 -1.71 -4.0
PFE Pfizer 31.85 -.27 -.8
EMC EMC Corp 10.75 -.37 -3.3
NT Nortel Networks 3.80 -.22 -5.5
TXN Texas Instrument 21.85 -.54 -2.4
GE GE 33.53 -.29 -.9
TWX Time Warner 16.66 -.14 -.8
SBC SBC Comms 26.06 -.56 -2.1
HPQ Hewlett-Packard 18.28 -.12 -.7
NASDAQ CLOSE 1896.52 - 18.88 - 1.0
VOLUME 1,595.0
PREVIOUS 1,527.3
ADVANCES 1165
DECLINES 1878
NASDAQ ACTIVES
TASR Taser Intl 43.09 +7.74 +21.9
ORCL Oracle 11.33 +.78 +7.4
MSFT Microsoft 27.19 -.25 -.9
CSCO Cisco Systems 19.56 -.79 -3.9
INTC Intel 20.42 -.35 -1.7
EBAY eBay 94.05 -.36 -.4
RIMM Rsch In Motion 70.03 +1.39 +2.0
GOOG Google 112.00 +.51 +.5
YHOO Yahoo! 32.90 -.30 -.9
AMAT Applied Matl 16.77 -.45 -2.6
AMEX CLOSE 1239.24 - 9.30 - .7
INDEX SHARES
DIA DIAMONDS TRUST 102.54 -.96 -.9
QQQ NASDAQ 100 35.27 -.36 -1.0
SPY S&P DEP.RECEIPTS 112.78 -.87 -.8
STOCKS IN THE NEWS
BBY Best Buy Co 52.61 +2.32 +4.6
CLS Celestica 12.60 -1.97 -13.5
BHE Benchmark Elect 29.64 -3.43 -10.4
AMZ Amer Medical Sec 31.91 +8.67 +37.3
PHS PacfCare Health 36.32 +1.92 +5.6
GOT Gottschalks 5.90 +1.09 +22.7
ELY Callaway Golf 10.30 -2.00 -16.3
LAD Lithia Motors 22.22 +1.02 +4.8
XLNX Xilinx 27.50 -1.54 -5.3
CYBX Cyberonics 23.23 +4.32 +22.9
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