|
09/21/04:
The Federal Reserve Raises Interest Rates
JEFF YASTINE: For the third time in as many meetings, the
Federal Reserve's Open Market Committee has raised short term
interest rates. Today the Fed funds rate was hiked 25 basis
points, from 1.5 to 1.75 percent. And as Darren Gersh reports,
it is just what Wall Street had expected.
DARREN GERSH, NIGHTLY BUSINESS REPORT CORRESPONDENT: The
markets greeted the Federal Reserve's bump up in its benchmark
short term interest rate with a knowing nod.
MICHAEL FARR, CHIEF INVESTMENT OFFICER, FARR, MILLER &
WASHINGTON: The market reaction was fairly hum drum. We expected
a 25 basis point hike in rates, and that is pretty much what
we got. We were looking for changes in the language and there
weren't many changes there either.
GERSH: As the Fed itself might put it, the changes in its
post-meeting statement were measured. In August, the Fed noted
that economic growth had moderated. Now it says output has
regained some traction. Last month, inflation was somewhat
elevated. This month, the Fed says inflation expectations
have eased. But crucial parts of the statement remained the
same: the Fed today reconfirmed its commitment to moving interest
rates up at a measured pace.
FARR: Not only is it an optimistic statement, it sort of
discounts the concerns over higher oil prices.
GERSH: But now comes the hard part: analysts expect the Fed
to hike rates to 2 percent at its next meeting in November
and then pause in December when market trading is thin. Then
next year, says former Federal Reserve Board Governor Laurence
Meyer, the real debate begins.
LAURENCE MEYER. SENIOR ADVISER, MACROECONOMIC ADVISERS: One
school says you get to 2 percent and then the data isn't giving
you any urgency to tighten. The economy is growing at trend.
Inflation is well controlled. Why tighten further and that
is the long pause at two school.
GERSH: In that school, pessimism about the economy lingers.
And there's concern that structural drags from a low savings
rate and a record high trade deficit will require the Fed
to nurse growth along with low interest rates -- that's the
one hand-- but we're talking economics here, and Meyer takes
the other hand.
MEYER: Wait, I mean, real rates are new zero? This economy
is going to grow above trend. The unemployment rate is going
to continue to fall. The Fed is going to continue to raise
rates and it is just a question of where is neutrality.
GERSH: In the long run, Meyer puts a neutral Federal Reserve
funds rate at 4 percent. And he says investors should be hoping
for rising rates next year, because that means the economy
is strong enough the Fed feels it can boost rates to a more
normal level. Darren Gersh, NIGHTLY BUSINESS REPORT, Washington.
The Federal Reserve, for the third time this year, raised
the key Fed funds rate by another quarter percent. Are more
increases still ahead? Joining us to answer those questions
and more are Michelle Girard, senior economist at Greenwich
Capital Markets and money manager Mike Holland of Holland
& Company and they both join us from New York. Michelle,
you get the first question. Another Fed meeting, another rate
hike. What was your take the on the Fed's statement this afternoon?
MICHELLE GIRARD, SR. ECONOMIST, GREENWICH CAPITAL MANAGEMENT:
You know, they made very few changes from their August statement.
They did express some optimism about the economy. They noted
that the job market was improving. They basically signaled
that things are progressing as they had expected a month ago
and I have to say when I look ahead to November, unless the
economy weakens sharply, I would expect the Fed is going to
continue to nudge rates higher trying to get the level of
interest rates back to a more neutral stance.
YASTINE: Mike, the Fed fund rate is now 1.75 percent. How
much higher in your opinion, does it go from here?
MIKE HOLLAND, CHAIRMAN, HOLLAND AND COMPANY: As Michelle
said, by the end of the year, we're probably looking at 2
percent, either November or December. To be neutral, whatever
that is, I think probably a more normal rate would be somewhere
between 2.5 and 4 percent, focusing in on 3, 3.25 but we are
nowhere near that. The Federal Reserve I think has done this
just about right so far in terms of talking about measured
increases. We are talking about several quarters out there
and I think they will be very careful about what they do to
the economy. Do no harm will be their mantra, I believe.
YASTINE: Michelle, is there any belief on your part as far
as what kind of things might interrupt what the idea for the
Fed is here, as far as getting to the neutral point? We've
had some data that seems a little weak. Nothing enough so
far to rattle the markets too much, but is there anything
out there that would happen that could disturb you or the
Fed on this?
GIRARD: You're right Jeff. We had a very weak second quarter,
although upon revision, it is probably going to look like
growth is closer to 3.5 percent. We're expecting 4 percent
growth in the fourth quarter and expecting that actually that
trend over the second half of the year. I think the key indicators
that the Fed will be watching obviously would be job growth.
That and consumer spending, I think, have the potential to
derail this path of measured rate increases. If we were to
suddenly see either job growth or consumer spending fall off
sharply. We had some better numbers in August. I think that
trend will be extended in September. So I don't really see
much risk of that, but I think that those are probably the
job situation and the consumer spending numbers are probably
the key things to be watching.
YASTINE: Mike, what about oil prices? We just read a story
a second ago about oil being back over $47 a barrel today.
Is there any chance that if those kind of energy prices remain
with us, again, that that might interrupt what the Fed is
planning for the economy?
HOLLAND: Well, the answer is probably not, Jeff, because
at this point we've had a nearly 50 percent increase in the
price of oil year to date. And we've already had the shock
at the gas pump with over $2 a gallon gasoline. There was
some slowdown as Michelle just said, in retail sales last
quarter. But the reality is as the Federal Reserve just said,
they referred to this in their statement. It looks as if the
consumer has adjusted to this. So I really don't expect that
the price of oil is going to be something that is going to
derail this momentum.
YASTINE: Michelle, let's talk about the bond market for a
second. The bond market went down a little bit more today.
We have 10-year Treasury with the yield just over 4 percent.
Mortgage rates are at six-month lows. Is the possible the
bond market is reading the data one way and the Fed is looking
at it in a more optimistic fashion?
GIRARD: You are absolutely right Jeff. There is a good deal
of pessimism in the bond market. They are not nearly as confident
in the outlook for the economy as the Fed seems to be or as
we are here. I mean part of the improvement in bond prices
and the decline in yields is tied to the fact that by raising
interest rates, the Fed has really sent a strong signal that
inflation is going to remain in check. In fact inflation has
come down and so that's one of the justifiable reasons why
bond yields have come down. But there is a lot of pessimism
too which I don't really think is going to end up being proved
out by the data.
YASTINE: Mike Holland, can the bond market and the Fed both
be right on this?
HOLLAND: I'm a little more sanguine than Michelle about the
bond market. I think that the level of inflation right now
inclusive of which you just talked about a second ago Jeff,
which is the energy price increases, these are incredibly
low inflation rates which include the raised oil numbers.
So I think that the bond market is appropriately saying that
inflation is incredibly low given the measured growth we've
had in the economy over the last several quarters. I think
the bond market may not be quite so dire in its forecast if
you will of economic circumstances.
YASTINE: Let me switch to the stock market then, Mike. What
do you think of that? Again, the Down and the NASDAQ both
wound up closing higher today and we've been moving higher
since around mid to early August or so. It's pretty much taking
it in stride it seems.
HOLLAND: I believe that the stock market has it wrong. I
think that the bond market with the 4 percent as you referred
to, 10-year Treasury yield is so low in yield, so high in
price, that a 16 or 17 multiple price earnings multiple on
the stock market is way too low. I think that the stock market
is probably 30 to 40 percent undervalued at this point.
YASTINE: Michelle, I've probably got about 20 seconds left.
A similar thought on stock market reaction here?
GIRARD: Yeah, I mean certainly I think that the economy is
going to continue to strengthen. I think it will surprise
the bond market. I think it will support the equity market
as we move into the year-end. I think the news is going to
continue to be better and better when it comes to stocks.
YASTINE: All right. We'll see how things wind up as we move
to the November and the December meetings for the Fed. Our
guest Michelle Girard, senior economist at Greenwich Capital
Markets and Mike Holland of Holland and 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.
09/21/04:
"United States versus Philip Morris, et. al."
PAUL KANGAS: It took five years to get to court, but the
case of the "United States versus Philip Morris, et.
al.," finally got underway in Washington, D.C. today.
The tobacco industry is charged with masterminding a massive,
long-running scheme to convince smokers that cigarettes were
safe. But as Stephanie Woods reports, government lawyers say
that just wasn't true.
STEPHANIE WOODS, NIGHTLY BUSINESS REPORT CORRESPONDENT: Attorneys
for the government arrived early to begin the largest civil
trial ever. The government alleges beginning in 1953, the
tobacco industry engaged in a massive fraud campaign to mislead
the public about the dangers of smoking.
ROBERT MCCOLLUM, ASSOC.ATTORNEY GENERAL, DEPARTMENT OF JUSTICE:
The goal of this case is to ensure that corporations who operate
legitimate businesses do so in a legitimate and lawful way
and do not operate legitimate businesses through corporate
fraud and illegal and wrongful methods.
WOODS: In court, government attorney Sharon Eubanks laid
out allegations of what she called the industry's overarching
scheme to defraud. She presented documents showing industry
executives knew cigarettes caused cancer and deliberately
set up a huge public relations campaign to refute the dangers.
One example given was the congressional testimony of industry
executives in 1994 that cigarettes were not addictive. But
the tobacco industry argues its marketing strategy now is
radically different than in the past, due in part to a 1997
settlement with the states. Industry executives are defending
their actions, saying at the time they thought they were right.
DANIEL DONAHUE, DEPUTY GEN. COUNSEL, RJ REYNOLDS TOBACCO
COMPANY: There is a general consensus that cigarette smoking
causes disease. Now at what point did what person form that
opinion? It evolved over a period of time. In the '50s and
in the '60s, our position was not out of the mainstream. There
was significant numbers of people who agreed with our position
at that time.
WOODS: The government is seeking the return of $280 billion
in ill-gotten gains and changes in how cigarette companies
market their products. Analysts say this case is the most
significant challenge the tobacco industry has ever faced.
MARTIN FELDMAN, TOBACCO ANALYST, MERRIL LYNCH: If these allegations
of the industry's misconduct over the last 50 years are going
to get anywhere, they probably have a greater chance of getting
somewhere in this trial than in many of the smaller trials.
WOODS: With 300 potential witnesses, this trial will last
about six months. Whatever the outcome, it's expected to be
appealed which means it could be several years before the
case is finally resolved. Stephanie Woods, NIGHTLY BUSINESS
REPORT.
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.
09/21/04:
Martha Stewart Gets Her Prison Date
JEFF YASTINE: Martha Stewart will watch the changing of the
fall leaves from a Federal prison cell. A Federal judge today
granting Stewart's request to begin serving her five month
sentence while an appeal is pending. Stewart must report to
the Bureau of Prisons on October 8th and be incarcerated at
the Federal women's facility in Danbury, Connecticut or a
similar facility in Florida. Stewart was convicted of lying
about a stock sale in December of 2002. Shares of Martha Stewart
Living Omnimedia (NYSE:MSO) jumped $1.64 or 12 percent to
$14.81 today.
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.
09/21/04:
Commentary: Healthcare Is Ailing on The Campaign Trail
PAUL KANGAS: As the presidential election draws closer, there
is a growing emphasis on the candidates' views on the important
issues. Tonight's commentator says one of those issues is
not getting the attention it deserves. Here's Daniel Henninger,
deputy editor of the editorial page of "The Wall Street
Journal."
DANIEL HENNINGER, WALL STREET JOURNAL EDITORIAL PAGE: We
all know the war on terror is the number one issue in the
campaign. But can you name the real number two? Take my word,
number two is the cost of health care. It's the great white
shark swimming below the surface of American politics, eating
incomes and jobs. No matter who wins the White House, the
cost of health care has to be addressed. The Kaiser Foundation's
survey of 3,000 employers has just reported that these costs
are up this year by more than 11 percent when inflation is
minimal. But people on the street already know that. We're
talking here about routine company-provided health insurance,
which no one used to complain about. Now they are. I recently
spent time in Pennsylvania reporting the election and people
do call terror issue number one there. Then you expect they'll
talk about the economy or education. Nope. Unionists, farmers,
managers say the cost of health care insurance -- premiums,
deductions, co-pays --is making them angry and nervous. George
Bush in his acceptance speech proposed health savings accounts.
John Kerry is now saying that as president, health care will
be his top priority. So who should we believe? Well there's
going to be a presidential debate in two weeks. I think we
know where these two stand on terror. Before electing either
of them the next four years, let's hear more, much more, about
how they plan to save us from the great white shark of health
care costs. I'm Dan Henninger.
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.
09/21/04:
"Money File"-Index Funds Vs. Managed Mutual Funds
JEFF YASTINE: And finally tonight, another
nation is taking steps toward democracy. The tiny, oil-rich
country of Brunei will reconvene its parliament on Saturday
for the first time in more than 40 years. The legislative council
last actually sat in session in 1962 and it was formally suspended
in 1984, when Brunei won its independence from Britain. The
first order of business for the 21 appointed council members
is to update the constitution. Brunei is ruled by a sultan,
who also holds the posts of prime minister, defense minister
and finance minister. And Paul, he says he's opening up parliament
again, because he wants the country's 3,000 -- 300,000 people
rather to have more of a say in their affairs.
KANGAS: You know, the sultan is one of the richest men in
the world, looks like he ready to share some of that wealth.
YASTINE: Let's see if they share some votes as well.
KANGAS: That's right, true.
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.
9/21/04:
"Paul Kangas' Stocks In The News"
PAUL KANGAS: The stock market edged steadily higher this
morning on good earnings from Goldman Sachs (NYSE:GS), Adobe
Systems (NASDAQ:ADBE) and KB Homes (NYSE:KBH). Also helping
was news of a 0.6 percent rise in August housing starts when
a drop was expected. At mid-day the Dow was up 12 points,
NASDAQ up five points.
After the 2:15 interest rate announcement, the market continued
to improve despite the rate hike because the Fed also said
that the economy is gaining traction. The Dow Industrial Average
closed up 40 points at 10,244.93.
The NASDAQ Composite rose 13 points, ending at 1921.18. Standard
& Poor's 500 up just over 7 points at 1129.30. Treasuries
ended the day mixed. The 10-year note rose 6/32, pushing the
yield down to 4.04 percent.
Big board volume leader on 14.8 million shares, Pfizer (NYSE:PFE)
down another $0.10. It was off about $0.73 yesterday on a
Morgan Stanley downgrade from "overweight" to "equal
weight."
Then Citigroup (NYSE:C) $0.25 gain.
NorTel Networks (NYSE:NT) up $0.15.
Colgate-Palmolive (NYSE:CL) dropping another $2.16 after
losing over $6 a share after losing over $6 a share yesterday
after the company warned on both its third quarter and fourth
quarter earnings.
Texas Instruments (NYSE:TXN) moved up $0.16. That was fifth
in volume. Motorola (NYSE:MOT) $0.46 rise.
Lucent Technologies (NYSE:LU) gained $0.07.
ExxonMobil (NYSE:XOM) in a strong oil group as prices headed
higher, up $1.28.
General Electric (NYSE:GE) up $0.25.
And Altria Group (NYSE:MO) down $0.93 as the tobacco industry
faces the loss you just heard about.
Goldman Sachs Group (NYSE:GS) moving up $3.22. Third quarter
earnings up 30 percent, $1.74, up from last year's $1.32 and
that $0.31 above the Street estimate. Revenues were up a handsome
19 percent.
Lehman Brothers (NYSE:LEH) didn't fare so well in earnings
on a share for share basis. Third quarter $1.71, down from
$1.81 last year, but there were more shares outstanding this
year than last.
U.S. Steel (NYSE:X) down $1.71. Prudential Securities downgraded
it from "overweight" to just a "neutral"
rating.
General Mills (NYSE:GIS) down almost $1. First quarter earnings
were $0.47, down from $0.59 last year. Company cited partially
as a lot of promotional spending, but it says it will still
meet full year earnings estimates.
KB Home (NYSE:KBH), the home builder, up $7.11. After the
close yesterday, $2.84 a share in third quarter earnings on
a 21 percent rise in revenues, well up from last year's earnings
of $2.33. Company sees full year earnings at $11 a share and
$14 a share next year. This had a very positive impact on
the home building stocks. Look at that, Beazer Homes (NYSE:BZH)
up over 4 1/2.
Nice gain in Centex Corporation (NYSE:CTX).
Hovnanian Enterprises (NYSE:HOV) up $2.22. Separately, Hovnanian
is buying Rocky Gorge Homes, but didn't disclose the price.
Lennar Corporation (NYSE:LEN) and Ryland Group (NYSE:RYL)
also doing very nicely in that group.
eFunds Corporation (NYSE:EFD) gaining $2.69. The company
is going to sell its ATM network in the United States and
Canada to TRM Corp. for $150 million.
FactSet Research Systems (NYSE:FDS) was in the database services
business, had higher fourth quarter earnings, $0.45 up from
$0.38 last year and the Baird brokerage repeated an "outperform"
rating on the stock.
And Questar (NYSE:STR), which is the natural gas business,
up $1.59. Goldman Sachs upgraded it from "in line"
to "out perform."
Microsoft (NASDAQ:MSFT) topped the NASDAQ active list losing
$0.25.
Followed by Intel (NASDAQ:INTC) with a $0.16 gain.
eBay (NASDAQ:EBAY) down $0.74.
Cisco Systems (NASDAQ:CSCO) $0.35 rise.
Research In Motion (NASDAQ:RIMM), fifth in dollar volume,
up $1.84. palmOne (NASDAQ:PLMO) tumbled $5.68, even though
it had a first quarter turnaround, earnings of $0.38 versus
a loss of $0.57 last year. Revenues up 62 percent, but the
company came out with a disappointing second quarter outlook.
That's what hurt the stock.
Applied Materials (NASDAQ:AMAT) up $0.04.
$0.66 gain in Amgen (NASDAQ:AMGN).
Yahoo! (NASDAQ:YHOO) no change there.
And Oracle (NASDAQ:ORCL) edged up a penny. That was tenth
in volume.
Red Hat (NASDAQ:RHAT) down $1.87 even though it tripled second
quarter earnings over last year, $0.06 versus $0.02. But revenues
were $1.2 million short of the Wall Street expectation. That's
what hurt the stock.
Adobe Systems (NASDAQ:ADBE) up $2.50 a share after the close
yesterday. Third quarter earnings $0.42, well up from last
year's $0.27. Revenues rose 27 percent and today J.P. Morgan
upgraded it from "underweight" to "neutral."
And Bio-Logic Systems (NASDAQ:BLSC) nice gain, second quarter
earnings $0.15 up from $0.09 last year. Revenues up 19 percent.
And finally Braun Consulting (NASDAQ:BRNC), look at that
percentage gain, 79 percent. This company will be acquired
by Fair Isaac Corporation for $2.34 a share in cash.
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 2003 Community Television Foundation of South Florida,
Inc. ALL RIGHTS RESERVED. Terms of use.
09/21/04:
Market Stats
NET PERCENT
CLOSE CHANGE CHANGE
DOW CLOSE 10244.93 +40.04 + .4
HIGH 10270.52
LOW 10200.25
NASDAQ COMP. 1921.18 +13.11 +.7
HIGH 1925.85
LOW 1909.43
VOLUME 1,316.6
PREVIOUS 1,197.7
UP VOLUME 959.8
DOWN VOLUME 340.8
DOW TRANSPORTS 3271.22 +28.89 + .9
DOW UTILITIES 295.85 +1.15 + .4
CLOSING TICK +697
S&P 500 1129.30 +7.10 + .6
S&P 100 544.74 +2.81 + .5
MIDCAP 400 594.32 +4.90 + .8
REUTERS/CRB 277.93 +3.96 + 1.5
NYSE COMPOSITE 6633.22 +67.32 + 1.0
VALUE LINE 362.91 +3.21 + .9
RUSSELL 2000 576.92 +6.18 + 1.1
DJW 5000 11010.22 +73.13 + .7
U.S. TREASURIES
5-YEAR NOTE 3.375%
Sept. 15,2009 100 14/32 -2/32 + 3.28
10-YEAR NOTE 4.25%
Aug. 15,2014 101 23/32 +6/32 + 4.04
30-YEAR NOTE 5.375%
Feb. 15, 2031 108 +17/32 + 4.84
LEHMAN BROS.
LONG BOND INDEX 1773.05 +3.78
DOW CLOSE 10244.93 +40.04 + .4
ADVANCES 2321
DECLINES 970
NEW HIGHS 196
NEW LOWS 16
NET PERCENT
NYSE MOST ACTIVES 4PM CLOSE CHANGE CHANGE
PFE Pfizer 30.89 -.10 -.3
C Citigroup 45.65 +.25 +.6
NT Nortel Networks 3.64 +.15 +4.3
CL Colgate Palmolive 46.07 -2.16 -4.5
TXN Texas Instrument 22.89 +.16 +.7
MOT Motorola 17.83 +.46 +2.7
LU Lucent Tech 3.36 +.07 +2.1
XOM Exxon Mobil 49.49 +1.28 +2.7
GE GE 34.46 +.25 +.7
MO Altria Group 46.15 -.93 -2.0
NASDAQ CLOSE 1921.18 + 13.11 + .7
VOLUME 1,534.1
PREVIOUS 1,569.1
ADVANCES 2021
DECLINES 1059
NASDAQ ACTIVES
MSFT Microsoft 27.26 -.25 -.9
INTC Intel 21.08 +.16 +.8
EBAY eBay 90.65 -.74 -.8
CSCO Cisco Systems 19.65 +.35 +1.8
RIMM Rsch In Motion 76.45 +1.84 +2.5
PLMO palmOne 31.60 -5.68 -15.2
AMAT Applied Matl 17.63 +.04 +.2
AMGN Amgen 58.56 +.66 +1.1
YHOO Yahoo! 33.26 unch. unch.
ORCL Oracle 11.41 +.01 +.1
AMEX CLOSE 1262.33 + 18.40 + 1.5
INDEX SHARES
DIA DIAMONDS TRUST 102.37 +.22 +.2
QQQ NASDAQ 100 35.60 +.14 +.4
SPY S&P DEP.RECEIPTS 112.99 +.52 +.5
STOCKS IN THE NEWS
GS Goldman Sachs Grp 94.90 +3.22 +3.5
LEH Lehman Bros 79.75 +3.73 +4.9
X US Steel 36.08 -1.71 -4.5
GIS General Mills 45.35 -.98 -2.1
KBH KB Home 83.36 +7.11 +9.3
BZH Beazer Homes 109.13 +4.52 +4.3
CTX Centex 50.70 +1.30 +2.6
HOV Hovnanian Enterp 41.60 +2.22 +5.6
LEN Lennar 47.24 +1.29 +2.8
RYL Ryland Group 93.03 +3.31 +3.7
EFD Efunds 18.70 +2.69 +16.8
FDS Factset Research 48.90 +4.16 +9.3
STR Questar 43.00 +1.59 +3.8
RHAT Red Hat 13.23 -1.87 -12.4
ADBE Adobe Systems 50.45 +2.50 +5.2
BLSC Bio Logic Systems 8.47 +2.59 +44.0
BRNC Braun Consulting 2.29 +1.01 +78.9
|
