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09/17/04:
What's Ahead For The Third Quarter?
SUSIE GHARIB: An earnings pre-announcement from Ford today and
it`s a good one. The world`s third largest automaker raised its third
quarter profit outlook on strength in its financial services sector. Ford
now says it will make $0.10 to $0.15 a share in the quarter. That`s up
sharply from prior estimates of break even to $0.05. Full year earnings are
also looking better, between $1.90 and $2, up $0.10 from earlier estimates.
But even as Ford announced this good news, it had bad news for workers:
it`s ending production at a Jaguar plant in England, cutting more than
1,100 jobs. Ford is just one of a long list of companies giving investors a
heads up on what to expect this earnings season. Here`s Suzanne Pratt with
a preview of how the third quarter is shaping up.
SUZANNE PRATT, NIGHTLY BUSINESS REPORT CORRESPONDENT: It`s that time again
on Wall Street, otherwise known as confession season: the time when
companies that aren`t meeting forecasts divulge their sins and warn
investors. In the last few weeks, big names like Intel, Coca-Cola and Alcoa
have red-flagged Wall Street about their third quarter earnings reports. On
the whole, negative pre-announcements are sharply outnumbering positive
surprises. According to First Call, so far almost twice as many companies
have pre-announced bad news than have issued good forecasts. Last quarter
at this time positive pre-announcements outpaced negative. To some, all of
the corporate `fessing up is foreshadowing a big slowdown in earnings in
the coming months.
EDWARD KEON, CHIEF INVESTMENT STRATEGIST, PRUDENTIAL EQUITY GROUP: I think
it`s the beginning of a steep slowdown in the earnings cycle, that we`re
starting to see earnings issues, especially in technology but even other
companies, like Coca-Cola, have pre-announced bad news. I think it`s just
the party might be over for the great earnings we`ve seen in the last
several quarters.
PRATT: Even though third quarter earnings are expected to reflect the
economy`s summer soft patch, not to mention the effects of at least three
hurricanes, it`s still expected to be a fairly decent period for corporate
America. Analysts are forecasting a 15 percent gain in profits for S&P 500
companies, double the historic average, but a pretty hefty decline from
recent stellar quarters. And experts say the stock market has definitely
been troubled in recent months by talk of a pullback in profit growth. But
some also say that investors have been obsessively worrying about what may
or may not happen with earnings in the coming quarters.
JOSEPH MCALINDEN, CHIEF INVESTMENT OFFICER, MORGAN STANELY INVESTMENT
MGMT.: The stock market has been concerned about a number of different
things: terrorism; higher oil prices; higher interest rates and a slowing
in earnings growth. And I think that they`ve priced in too much of a
slowing in earnings growth.
PRATT: Corporate confession season is expected to continue for the next
three weeks and then by mid October, companies will start reporting actual
third quarter numbers and continue doing so right until about the
presidential election. 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.
09/17/04:
One On One With Captain Duane Woerth, President of the Air Line Pilots Association
PAUL KANGAS: United Airlines has gotten a brief reprieve in bankruptcy court. In Chicago
today, a judge gave the carrier another 30-days to file its reorganization
plan. It`s the second time United has asked for that deadline to be pushed
back. The carrier also confirmed today it needs an additional $500 million
in annual cost cuts. That`s on top of the $655 million in cuts already in
the works, including cuts in its employee pension plans.
SUSIE GHARIB: United`s pilots could be called on for helping in meeting those
cost cuts. Joining us now to talk about that and issues pilots are facing
at other airlines, Captain Duane Woerth, president of the Air Line Pilots
Association. Hello Captain. Nice to have you on our program tonight.
DUANE WOERTH, PRES., AIR LINE PILOTS ASSOCIATION: Thank you.
GHARIB: Let`s begin talking about U.S. Air. Many people say that U.S. Air
was forced into bankruptcy because the pilots were not willing to make
concessions and to come through on that. What do you think are the lessons
from U.S. Air?
WOERTH: Well, first of all, the pilots and the other employees of U.S. Air
gave billions of dollars in concessions already. The pilots about two and a
half billion over five years, plus they lost their pension. This was an
another concessionary request. They`re in bankruptcy because the loan
guarantee covenants were going to be in violation, so U.S. Airways is in
bankruptcy protection because of the creditors, not because of the
employees. Having said that I do hope that our pilots will be able to reach
an agreement prior to emergency court order.
GHARIB: All right. Let`s move on the Delta (DAL), because Delta is also on
the verge of bankruptcy, also negotiating with pilots. Do you think that
Delta pilots will be more willing to make some concessions having seen now
what`s happened at U.S. Air?
WOERTH: I don`t think the U.S. Air situation affects them, I think their
own situation, their open early retirement problems, the lack of a real
business plan at Delta and the continuing pressure on all pension plans,
they`re actually getting closer to a deal. I really think they will
actually reach agreement at Delta Airlines.
GHARIB: How close are they to a deal? When do you think that might happen?
WOERTH: It won`t happen in September, but hopefully in October is what I`m
predicting right now.
GHARIB: A lot of people, the public perception about commercial airline
pilots is that they are overpaid, that they`re unwilling to work with the
airlines to avoid bankruptcy, and to solve a lot of the financial issues.
Do you think pilots have a PR problem?
WOERTH: We may have a PR problem because the facts certain don`t support
the statement you just made. We`ve given billions and billions of dollars
in concessions since 9/11 and in previous recessions we did the same. We`ve
saved the airlines ever since deregulation more than once and it looks like
we`re doing it again. Especially U.S. Airways as a case in point, we rarely
lose a pension plan before a company is liquidated, but it seems to be a
new game in town.
GHARIB: You`ve been a commercial airline pilot for some 27 years so, you`re
well aware of a lot of the issues facing the airline industry. What do you
think are the solutions? What would you as a pilot like to see happen?
WOERTH: First of all, the pension problems we really need some pension
relief from Congress as long term amortizations of unfunded liabilities.
That is exactly what they did in Canada with the same problem. Air Canada
emerged from bankruptcy once the government permitted long term
amortization of the pension plan liabilities. Number two, we need to get
the tax burden off the industry. We pay more taxes on airline tickets than
they do on liquor and tobacco, almost twice as much, that needs to change.
Fuel prices need to come down. The oil is going to stay this expensive,
it`s nearly $45 a barrel. We need some relief from fuel taxes and lastly
but not least I definitely believe this industry, the regulators ought to
look at consolidation. Every other industry by now in this business cycle
would have been permitted to do some rational mergers and fragmentations to
take out this excess capacity. The laws of supply and demand are killing us
right now. We make $15 billion less in revenue than we did prior to
September 11, hauling the same number of people and fuel costs $13 billion
more at that time.
GHARIB: Unfortunately, we`ve run out of time. We`re going to have to leave
it there. Captain Woerth, thank you very much for coming on the program.
WOERTH: You`re welcome.
GHARIB: We`ve been speaking with Captain Duane Woerth, president of the
Airline Pilots Association.
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.
09/17/04: Hotel & Worker Relations Are Less Than Hospitable
PAUL KANGAS: There`s also labor trouble brewing tonight at big, marquee-name
hotels in Los Angeles, San Francisco, and Washington, D.C. They`re bracing
for a possible strike by workers as soon as this weekend. Darren Gersh
reports.
DARREN GERSH, NIGHTLY BUSINESS REPORT CORRESPONDENT: In Washington, the
cooks, the maids, and the bellhops are almost ready to strike the city`s
biggest hotels, from the Marriott Wardman Park to the Omni Shoreham. But
the union representing those workers-- Unite Here local 25-- is not saying
where or when it will walk off the job at as many as 14 hotels.
JOHN BOARDMAN, EXEC. SECRETARY, UNITE HERE LOCAL 25: We`re at about 75
percent readiness now. We should be completely ready with the conclusion of
our picket captain training and the production of some of the signs and
other logistical things tomorrow. So by tomorrow night, we`re going to be
ready to go if that is our tactical decision. We have not made a tactical
decision yet to execute.
GERSH: Fourteen hotels in San Francisco and nine in Los Angeles are also
bracing for a possible strike this weekend. Though some conventions are
already canceling reservations, the industry says it will still take care
of its guests.
JOE MCINERNEY, CEO, AMERICAN HOTEL & LODGING ASSN.: Management will have to
do some of the jobs that they are not accustomed to doing, but as an
industry we are ready to do that.
GERSH: The key sticking point is a union demand for a two-year contract
which will let the hotel workers coordinate negotiations in virtually every
major hotel market in North America in 2006.
BOARDMAN: Obviously if we are bargaining together we`re going to have the
same kind of leverage that national companies have when they bargain with
us individually.
GERSH: The industry disagrees, saying local issues need to be addressed
market by market.
MCINERNEY: Wage and health costs in New York are different than they are in
Chicago and Los Angeles.
GERSH: Analysts say national hotel contract talks would give unions more
clout and a good contract now will position the hotel unions for the bigger
talks in 2006.
CHARLES CARVER, LABOR LAW PROFESSOR, GEORGE WASHINGTON UNIV.: They`ve been
very successful in cities like L.A. and San Francisco, and if they unions
can demonstrate their ability to do well in these markets, they will expand
their appeal.
GERSH: Analysts say a strike would hurt the industry in popular cities just
as the hotel business is finally getting back to pre-9/11 levels. Darren
Gersh, NIGHTLY BUSINESS REPORT, Washington.
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.
09/17/04: Market Monitor-James Stack, President of Investech Research
PAUL KANGAS: My guest market monitor this week is James Stack, president of
Investech Research, based in Whitefish, Montana. Good to see you again Jim.
Welcome.
JAMES STACK, PRES., INVESTECH RESEARCH: Thank you, Paul. It`s great to be
here.
KANGAS: Among the major factors influencing the stock market these day are
the Iraq war, oil prices, the presidential election, the budget deficit and
monetary policy. Can you comment briefly on each of these things in the
order of importance that they are in your mind?
STACK: Well, when analyzing the market, it`s important to separate the
emotional fears from the true financial risks. And the ongoing war in Iraq,
the presidential election and budget deficits are creating very bad
headlines, but they`re more or less political or geo political events that
do not have a long term impact on the market. The true financial risk out
there lies in oil prices and in interest rates and that`s where investors
have to stay focused.
KANGAS: OK, oil prices and interest rates. That`s it. The rest of it is
just like you say not that impressive.
STACK: Yes. We`ll have to see oil prices stabilize and settle down around
$40 a barrel and I think that will likely happen. At the same time we have
to be careful not to see the pressures increase on the Federal Reserve to
where they tighten more aggressively than they already are. KANGAS: Do you
think they`ll tighten another measured quarter next week?
STACK: The market certainly expects it. That`s an interesting note, though,
if the Federal Reserve does tighten or raise the discount rate next week,
it would be only the second time in the Federal Reserve`s 90-year history
that they`ve tightened interest rates in the two months preceding a
presidential election. Generally they don`t want to be viewed as a
political animal.
KANGAS: But you think they`ll do it anyway, right?
STACK: I think the odds are certainly there, but historical precedent might
suggest otherwise.
KANGAS: All right. Give us your opinion briefly of the stock market`s
present technical condition.
STACK: The technical strength is holding up much better than I would have
expected even six months ago. This bull market is still intact; we have
broad participation. Where we don`t have or we`re not seeing any of the
down side leadership that would lead into a bear market, again I`m nervous
going forward into 2005, but right now the blocks are still in place for
more bull markets.
KANGAS: All right. Now on your last visit with us in early February of this
year, you gave us three buy recommendations and let`s see how they fared.
Pfizer (PFE) didn`t fare too well, down 18.4 percent.
STACK: No, all of the pharmaceutical companies are suffering in fear of the
presidential election and what might come out of it in controlling or
regulations in their industry. I think there`s still promising and could
see a strong rebound after the election.
KANGAS: So you`re staying with Pfizer?
STACK: Yes, I think on a valuation basis it`s selling near the lowest
intrinsic value that we`ve seen in over 10 years.
KANGAS: Now Biomet (BMET) did rather well, up 16.2 percent. Are you still
with it?
STACK: Yes. We`re still holding that one. It`s not quite - it`s got (ph)
about 10 percent to go to our sell target.
KANGAS: OK then. Then we had the best of the trio of recommendations, Devon
Energy (DVN), which is up 31.4 percent. That`s had a nice move. You`re
taking some money off the table?
STACK: Well, all of the energy sectors performed well in our portfolio.
Those three stocks by the way on average were up 9.7 percent. So I wouldn`t
be worried about the energy sector going forward even if oil does settle
back a little bit, but it never hurts to pull some of the profits off.
KANGAS: OK, any new recommendations? We`re down to little over a minute,
Jim.
STACK: Yes. Four stocks that we`re holding in our managed accounts as well
as my own portfolio, ALLTEL (AT) symbol AT, a regional communications
company, Apache Corp (APA). That is a natural and oil gas producer,
PepsiCo (PEP).
KANGAS: Wait a minute, let`s get the chart up first on Apache which has had
a nice move. OK.
STACK: Yes. And again it`s breaking out from a technical strength
standpoint to a new high. I think it still has more profits going forward.
KANGAS: PepsiCo, there we go.
STACK: Yes. It`s near the lower level of its intrinsic value based on cash
flow, symbol PEP. It pays a 2 percent dividend. It`s a conservative non-
cyclical stock. It will be more defensive if interest rates continue
rising.
KANGAS: OK, 25 seconds. If we have one more recommendation, we`ve got time.
STACK: The last one, in a sector that tends to hold up well in a late stage
bull market, that is the health care sector, Renal Corp. (RCI), operates
almost 400 kidney dialysis centers around the country, symbol RCI. That`s a
very promising.
KANGAS: Do you own all these, Jim, own them all personally?
STACK: Absolutely, yes, both in my account and in our managed account.
KANGAS: Jim, thanks very much.
STACK: My pleasure, Paul.
KANGAS: My guest market monitor James stack, president of Investech
Research.
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.
09/17/04:
"Last Word"-The Oprah/Pontiac Payoff
SUSIE GHARIB: And finally, it appears a big publicity gamble may be paying off
for Pontiac. On Monday we told you about Oprah Winfrey giving away 276 new
Pontiac G-6 sports sedans to audience members of her TV show. Well, as a
result, interest in the new model car has zoomed. Pontiac says right after
the show aired, hits on its web site soared from 37,000 on a normal day to
almost a quarter of a million. Only a few hundred cars are out on
dealership floors, but customers are already asking for them. And here`s a
funny story, Paul, Pontiac says that they have reports of a customer who
bought the G-6 right off of the truck that was delivering it to the
dealership.
KANGAS: Well, it`s the best door prize that I ever heard of, I`ll tell you
that, unbelievable.
GHARIB: Would have loved to have been in that audience, right Paul?
KANGAS: That`s for sure.
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.
9/17/04:
"Paul Kangas' Stocks In The News"
PAUL KANGAS: Wall Street`s blue chips got an early boost from that upbeat
outlook from Ford and better than expected results from Tektronix (TEK) and
Circuit City (CC). Early on, the Dow was up 65 points, NASDAQ rose about
six points. Then the Dow came under selling pressure after a California
court reinstated damages against Altria (MO) in a five-year old smoker`s
case. Rising oil prices also trimmed the market`s advance but the Dow
industrial average managed to hold on to a 40 point closing gain putting it
at 10,284.46. The Dow rose in four out of this week`s five sessions and had
a net loss though of 28.61 points. The NASDAQ Composite rose six points to
close at 1910.09 today. It too fell just once this week and had an overall
gain of 15 3/4 points. Standard & Poor`s 500 index was up 5 points today at
1128.55. Over in the bond market, the 10-year note rose 9/32.
Most active big board issue was General Electric (GE) on 22.3 million
shares, stock moving up $0.69.
Then Pfizer (PFE) down $0.06.
NorTel Networks (NT) dropped $0.09.
Lucent Technologies (LU) fell a penny.
And there you see it, Citigroup (C) losing $0.23 a share, fifth in big
board volume.
Texas Instruments (TXN) moved up $0.49. After the close yesterday, as we
reported, the company announced a small dividend boost and a $1 billion
stock buy back.
ExxonMobil (XOM) moved up $0.82 in a very firm oil group after New York
October oil futures rose $1.71 to $45.59 a barrel.
Wal-Mart Stores (WMT) losing $0.29.
Hewlett-Packard (HPQ) an $0.11 drop.
Tenth in volume, EMC Corp. (EMC) managed to gain $0.07.
Anheuser-Busch (BUD) dropped only a penny, although Deutsche Bank
Securities downgraded it from "buy" to "hold" because of the company`s
waning volume growth, which is now at only about 1 percent.
Circuit City (CC) did well today, ending up $0.61. Company cut its second
quarter loss to only $0.06, versus a $0.63 loss a year ago and the Street
was expecting an $0.11 per share loss. The company cites strong digital TV
and notebook computer sales and also its cost cutting measures.
Tektronix (TEK) moved up $2.44 after reporting sharply higher first quarter
earnings, $0.43, up from $0.13 last year and sales were up a very
respectable 24 percent.
Alpharma (ALO) rising $1.78. A Washington state appeals court cleared the
way for the company to sell its generic version of Pfizer`s epilepsy drug
called Neurontin.
Hillenbrand Industries (HB) which owns mortuaries and makes caskets, etc.
cut its prior 2004 earnings estimate of $3.19 to $3.24 a share, all the way
down to $2.95 and $3. It also plans to lay off 230 employees. Standard &
Poor`s downgraded Hillenbrand stock from "hold" to "avoid."
And Sealed Air (SEE) off $4.82. The company cut its 2004 earnings guidance
from the range of $2.80 to $2.90, down to $2.60 to $2.70. The Street
estimate stood at $2.82 a share.
NASDAQ`s most active, QUALCOMM (QCOM) losing $1.57. Because of potential
changes in the way the company accounts for royalties and that could cut
its fourth quarter earnings.
Intel (INTC) moved up $0.48.
Microsoft (MSFT) $0.25 gain.
eBay (EBAY) rose $0.77.
Fifth in volume was Cisco Systems (CSCO) down $0.43. Research In Motion
(RIMM) edged up $0.21.
Oracle (ORCL) up $0.28.
InterActiveCorp (IACI) gained $1.52 on speculation the company`s chief
executive officer Barry Diller might want to take the company private.
Applied Materials (AMAT) was up $0.12.
And Google (GOOG) up $3.52, had a big move today.
Flamel Technologies (FLMLY) down $4.29. Bristol Myers has terminated a
licensing agreement with the company that would have given it $120 million
in potential milestone payments.
And then TETRA Technologies (TTI) down $3.53 after the company warned its
fourth quarter is getting off to a very slow start, predicting lower
earnings.
And over on the American exchange, big loser, Phoenix Footwear Group (PXG)
dropping nearly 30 percent after the company said it will not meet its 2004
earnings guidance of $1 to $1.10 a share because of delayed deliveries. The
First Albany brokerage downgraded the stock from "buy" to just a "neutral"
rating.
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.
09/17/04:
Market Stats
NET PERCENT
CLOSE CHANGE CHANGE
DOW CLOSE 10284.46 +39.97 + .4
HIGH 10314.76
LOW 10245.74
NASDAQ COMP. 1910.09 +6.01 +.3
HIGH 1911.00
LOW 1896.67
VOLUME 1,439.8
PREVIOUS 1,113.3
UP VOLUME 863.0
DOWN VOLUME 561.8
DOW TRANSPORTS 3257.39 +23.98 + .7
DOW UTILITIES 295.36 +1.11 + .4
CLOSING TICK +481
S&P 500 1128.55 +5.05 + .5
S&P 100 545.80 +2.45 + .5
MIDCAP 400 592.10 -.07 - .0
REUTERS/CRB 274.41 +1.78 + .7
NYSE COMPOSITE 6604.00 +29.39 + .5
VALUE LINE 361.23 +.43 + .1
RUSSELL 2000 573.17 -1.37 - .2
DJW 5000 10993.60 +37.08 + .3
U.S. TREASURIES
5-YEAR NOTE 3.375%
Sept. 15,2009 100 6/32 -7/32 + 3.33
10-YEAR NOTE 4.25%
Aug. 15,2014 101 4/32 -9/32 + 4.11
30-YEAR NOTE 5.375%
Feb. 15, 2031 106 27/32 -13/32 + 4.91
LEHMAN BROS.
LONG BOND INDEX 1761.00 -5.15
DOW CLOSE 10284.46 +39.97 + .4
ADVANCES 1728
DECLINES 1549
NEW HIGHS 184
NEW LOWS 14
NET PERCENT
NYSE MOST ACTIVES 4PM CLOSE CHANGE CHANGE
GE GE 34.22 +.69 +2.1
PFE Pfizer 31.72 -.06 -.2
NT Nortel Networks 3.41 -.09 -2.6
LU Lucent Tech 3.27 -.01 -.3
C Citigroup 46.95 -.23 -.5
TXN Texas Instrument 22.08 +.49 +2.3
XOM Exxon Mobil 48.37 +.82 +1.7
WMT Wal-Mart Stores 52.48 -.29 -.6
HPQ Hewlett-Packard 18.11 -.11 -.6
EMC EMC Corp 10.80 +.07 +.7
NASDAQ CLOSE 1910.09 + 6.01 + .3
VOLUME 1,645.0
PREVIOUS 1,330.3
ADVANCES 1557
DECLINES 1518
NASDAQ ACTIVES
QCOM Qualcomm 38.83 -1.57 -3.9
INTC Intel 20.59 +.48 +2.4
MSFT Microsoft 27.51 +.25 +.9
EBAY eBay 93.10 +.77 +.8
CSCO Cisco Systems 19.16 -.43 -2.2
RIMM Rsch In Motion 73.31 +.21 +.3
ORCL Oracle 11.51 +.28 +2.5
IACI IAC/InterActiveCp 23.50 +1.52 +6.9
AMAT Applied Matl 16.90 +.12 +.7
GOOG Google 117.49 +3.52 +3.1
AMEX CLOSE 1247.78 + 1.87 + .2
INDEX SHARES
DIA DIAMONDS TRUST 103.03 +.39 +.4
QQQ NASDAQ 100 35.44 +.12 +.3
SPY S&P DEP.RECEIPTS 113.15 +.48 +.4
STOCKS IN THE NEWS
BUD Anheuser Busch 51.30 -.01 -.0
CC Circuit City 14.72 +.61 +4.3
TEK Tektronix 33.25 +2.44 +7.9
ALO Alpharma 18.95 +1.78 +10.4
HB Hillenbrand Inds 52.14 -4.30 -7.6
SEE Sealed Air 45.49 -4.82 -9.6
FLML Flamel Tech 14.68 -4.29 -22.6
TTEK Tetra Tech 13.89 -3.53 -20.3
PXG Phoenix Footwear 6.90 -2.95 -30.0
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