12/14/04:
The Fed Raises Rates For the Fifth Time
SUSIE
GHARIB:The Federal Reserve does it again. The Fed`s open
market committee today raised a key short term interest rate by a .25
percentage point. The Federal funds rate now stands at 2 1/4 percent. And
as Suzanne Pratt reports, that rate is likely to keep rising in 2005.
SUZANNE PRATT, NIGHTLY BUSINESS REPORT CORRESPONDENT: Today`s decision
makes five, five consecutive hikes in short-term interest rates since June,
and five times that the Federal Reserve has done pretty much what financial
markets were expecting. Experts say it`s all part of the Fed`s master plan
to return rates to more normal levels from recent historic lows.
LAURENCE KANTOR, CHIEF ECONOMIST, BARCLAYS CAPITAL: The Fed is in the
process of normalizing monetary policy. You`ll remember they took the
funds rate all the way down to 1 percent, and the idea was to ward off any
deflation risks. Those risks have now disappeared, so the Fed is in the
process of taking away that extraordinary monetary stimulus.
PRATT: In the statement that accompanied today`s decision, the Fed stuck
with virtually the identical assessment of the economy that it used in
November and policymakers also kept the measured language that they first
started using in May.
KANTOR: They are still characterizing monetary policy as accommodative,
which is a signal they still have more to do since they are in the process
of removing that accommodation.
PRATT: But economists are less sure that the Fed will be quite so
predictable next year. Many say future rate moves will be based more on
economic data than on a formula. Still, at least for now, most Fed
watchers agree the central bank will hike rates again at its next meeting
in early February. As for the rest of 2005, there is plenty of
disagreement as to how high the Federal funds rate will ultimately go.
BILL DUDLEY, CHIEF U.S. ECONOMIST, GOLDMAN SACHS: Various Fed officials
have suggested that a neutral Federal funds rate is somewhere between three
and 5 percent. Chairman Greenspan has suggested that he`ll know it when he
sees it, but he has not specified a level. So I think we`re going to at
least 3 percent and then after that, it will really be depending much more
on the data.
PRATT: Experts say perhaps the most interesting aspect of today`s
announcement was the decision to speed up the release of the Fed meeting
minutes. In the spirit of better transparency, financial markets will now
get those minutes in three weeks rather than six. Suzanne Pratt, NIGHTLY
BUSINESS REPORT, New York.
GHARIB: Joining us now for some analysis, Michelle Girard, senior economist at
Greenwich Capital management and Mike Holland, New York money manager of
his own firm, Holland and Company. Hello to you both.
MICHELLE GIRARD, SR. ECONOMIST: GREENWICH CAPITAL: Hello Susie.
GHARIB: Michelle, let me begin with you, obviously no surprise. But you
did hear our report at the beginning of the program saying that many people
think that the future moves are going to be based more on economic data
rather than a formula. Do you agree with that?
GIRARD: I think all of the moves have been to some extent date dependent. I think that`s even been the case toward the end of this year. But I
do think that the Fed is going to continue to move rates. I mean what was
mentioned in the package was they`ll go to 3 percent, the lower bound of
neutral, before really perhaps pausing and assessing. I actually think the
neutral is higher than that. So I think that they could go somewhere
between four and a half, maybe even five before they really get to a point
when they`re not stimulating the economy and they`re not trying to slow it
down.
GHARIB: Mike, do you see any reason to slow down these rate increases?
MIKE HOLLAND, CHAIRMAN, HOLLAND AND COMPANY: I think the Fed is going to
do just what Michelle said Susie. I think they are for once getting it
exactly right. As Paul Kangas just reported, the Fed got an immediate
report card which it always does. Both markets, the bond market and stock
market gave it an A for what it did today, for what it`s doing. It`s ahead
of the inflation curve, but it`s not doing it in a way that`s in any way
disruptive to the market and the economy is doing just fine. So I think
that right now we can look for continued measured increases, probably
moving towards 4 percent by the end of next year.
GHARIB: Let me go over this neutral point that Michelle you brought up a
moment ago. So what is it going to be? Is it 3 1/2 percent? Is it 4
percent? Is it 5 percent? What is neutral for the Fed?
GIRARD: Well, everybody has different ways of calculating it. The Fed, I
think, has broadly put a range of three to five percent. That`s been their
standard language. And as was noted, Greenspan says, he`ll know it when he
sees it. Again, if you look back historically, the Fed has tended to keep
rates in the 4 to 5 percent range when they were operating a rather neutral
policy. So I think right now the market is leaning towards thinking 3
percent is neutral, and I think perhaps in 2005 there might be some
surprise that the Fed actually raises rates further than that before they
feel like they`ve hit neutral.
GHARIB: Mike, we saw modest gains in the market today. What is the market
interested in these days? How critical are these measured moves in interest
rates or is there some other issue that`s more important for investors
right now?
HOLLAND: That`s a great question Susie, because I think the bond market and
the Fed funds rate along with the dollar are keying the stock market. The
stock market is under valued by most measures, including the Fed`s own
measure. So I think if we get continued positive news on the economy in
2005, which is what will cause the Fed, as you were saying earlier, Alan
Greenspan using the economic play book, not a formula to give him guidance
for higher rates, if that all occurs, the stock market is going to do
better than the 10 to 14 percent growth in earnings for the S&P which are
currently forecast. Because the stock market has underperformed, other
markets, including the Treasury market, which as Paul Kangas just said, it
down to 4.12 percent. The 10-year Treasury, it had been as high as 4.7
earlier in the year when the Fed started.
GHARIB: Michelle, what`s the significance of this announcement by the Fed
today that they`re going to be speeding up the release of their minutes,
coming out within three weeks from a Fed meeting as opposed to the six
weeks? What`s the significance of that?
GIRARD: It will be really interesting because right now they release the
minutes after the previous meeting. So, for example, we won`t get the
minutes from the November meeting until the Thursday after the December
meeting has already taken place. Now, under the new format, we`re going to
get the minute three weeks after the meeting. So we`ll have a chance to
really look at what the Fed was talking about, what their concerns were,
very quickly after the meeting. We`ll know what the Fed is really focused
on. I think that will provide a lot of useful information for market
participants in trying to assess what we should be looking at and what the
Fed is going to be putting the most attention to.
GHARIB: Some people were saying today that these minutes could become a
market event, like the same way everybody waits for the unemployment
report. Do you think that`s going to happen?
GIRARD: I do think - I don`t think it would be quite as important as
employment. But I do think it will certainly become one of the main
releases in the inter meeting period because it will provide so much
insight into what the Fed is really looking at.
GHARIB: Mike, I just want to get your take, this is probably the last time
we`re going to be talking to you for 2004, to get your take on where the
markets are going to go in 2005. You sounded pretty upbeat when we were
just talking about issues in general for the market.
HOLLAND: Just reading where we are now Susie, listening to companies and
what they are saying, beginning with companies like General Electric who
have a broad exposure to world economy. Things are getting better. They`re
not heating up. They`re moving moderately better and better and better.
The economy is providing more jobs. Inflation is not a problem right now
because the Fed is staying ahead of that. I think the stock market
probably is going to surprise on the up side in 2005 for the first time in
a few years.
GHARIB: Michelle, we just have a few seconds left. Bonds, outlook for
2005, are they going to surprise?
GIRARD: Well, they surprised this year, but with yields coming down even
though the Fed raised interest rates, I think that they`ve got to behave a
little bit more normally and I would suspect if the Feds keep raising
rates, if the economy is as healthy as I think it will be, that there`s
going to be upward pressure on bonds yields in 2005.
GHARIB: All right. We`ll leave it there. Happy holidays to both of you.
We`ll see you in the new year. We`ve been speaking with Michelle Girard,
senior economist at Greenwich Capital Management 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.
12/14/04:
New Optimism For The Employment Outlook
PAUL KANGAS: The nation`s employment picture is a key factor the Fed considers
when it sets interest rates, and it looks like that picture is getting
brighter for next year. As Diane Eastabrook reports, a new survey by
Manpower shows a growing number of U.S. employers plan to ring in the new
year with new workers.
DIANE EASTABROOK, NIGHTLY BUSINESS REPORT CORRESPONDENT: Manpower credits
moderating oil prices and political stability in Washington for a more
promising hiring forecast in the first quarter. The employment
outplacement firm recently polled 16,000 U.S. companies. 24 percent plan
to add employees, while 10 percent plan to cut them, a more positive
outlook over last year. Meanwhile, 59 percent plan no hiring changes and 7
percent are uncertain. Manpower`s chairman and CEO also thinks employers
are more optimistic overall.
JEFFREY JOERRES, CHAIRMAN & CEO, MANPOWER INC.: The sense that we`re
getting and what we`re seeing in our customers and our data is that it is
just the continual nature that is happening in companies, that their demand
for the products and services are moving up and the bad times were far
enough behind.
EASTABROOK: Manpower says the hiring bright spots in the first quarter
include construction, mining and financial services. Those are encouraging
signs to other jobs experts.
JOHN CHALLENGER, CEO, CHALLLENGER, GRAY, & CHRISTMAS, INC.: A lot of the
jobs that are being created seem to be good jobs, not just the hamburger
flipping, low-level retail jobs that seemed to mark the beginning of a jobs
turnaround.
EASTABROOK: Peregrine Financial Group is one company that plans to add
several high-paying sales jobs next year. The futures and options
brokerage says the efficiency of online trading kept it from adding staff
in recent years. Now it needs to hire more people in order to grow. But
because of the new technology, the firm is focusing on candidates that are
more skilled in customer service than in sales.
RUSSELL WASENDORF, CHAIRMAN & CEO, PEREGRINE FINANCIAL GROUP: We`re
actually going to the call centers and finding individuals that have spent
time learning the task of interfacing with customers, listening to
customers, answering customer questions. And we`re teaching them our
industry.
EASTABROOK: Manpower says some dark clouds still hang over the employment
picture, like volatile energy prices and problems facing some foreign
economies.
JOERRES: Italy, Germany and France are a little bit tenuous right now and
that could be very important for the U.S.
EASTABROOK: While Manpower is optimistic about hiring during 2005, it
believes companies will still remain cautious and be more measured about
the way they add staff throughout the year. 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.
12/14/04:
"Commentary"- How Does The UN Handle Terrorism
SUSIE GHARIB: Tonight`s commentator says it`s time to take a closer look at the
United Nations and how it handles terrorism. Here`s Daniel Henninger,
deputy editor of the editorial page of the "Wall Street Journal."
DANIEL HENNINGER, DEPUTY EDITOR, WALL STREET JOURNAL EDITORIAL PAGE: The
corruption problems at the United Nations have reached a critical point.
We know that because Jay Leno is making jokes about the oil-for-food
program and when the comedians move in, you`re in trouble. But the U.N.
also published a report December 2nd with ideas about making the place
better. One idea merits wide public support.
The report says that since the U.N.`s start in 1945, its members have never
agreed on an official definition of "terrorism." That failure undermines
the U.N.`s moral authority. Why respect the U.N. if it can`t condemn the
globe`s most awful acts? Terrorism, says the report is never an acceptable
tactic, even for the most defensible of causes. Attacks that specifically
target innocent civilians and noncombatants must be condemned clearly by
all. The report names al Qaeda as the kind of new terrorism that deserves
universal condemnation. Al Qaeda is armed, belongs to no state, has global
reach, has murdered civilians in 10 nations on four continents.
The future of the United Nations is in doubt not only because of oil-for-
food. It too often closes its eyes to manifest evil. Anti-civilian
terrorism, in the news every day now, is one such evil. The authors of
this report deserve praise for calling on all members of the U.N. to define
terrorism and then condemn it. 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.
12/14/04:
"Gifts & Gadgets"-The Big Gifts For The Holiday Season
SUSIE GHARIB: Well, just 10 more shopping days until Christmas, and that means
it`s just about time for our annual gifts and gadgets segments. To kick
things off this year, proof that bigger can be better. Here`s our
technology maven, Scott Gurvey, with the details.
SCOTT GURVEY, NIGHTLY BUSINESS REPORT CORRESPONDENT: "Big" is the word as
shoppers make a beeline for their local electronics store, where the dream
product of last year is now affordable for many.
TRACEY MALONE, MANAGER, BEST BUY: What we`re seeing different this year
from last year is digital television. Because the prices have dropped 20
to 30 percent, customers are more likely to buy digital TVs this year. So
the plasma televisions, the LCD televisions, people are trying to same
space as well.
GURVEY: There is no easy answer to the question of which big TV is best.
You generally get what you pay for but this is a subjective decision. Go
to a store with a wide selection and judge for yourself. Look at all the
displays and make sure the store is using real high definition signals.
Make sure you`re looking at a set that is HD or HD ready. Even if you
don`t have HD signals available now, you will soon.
Of course there are signs supply is beginning to meet demand, which means
prices may be down another 20 or 30 percent next year. Multimedia
computers are also big sellers this year. These machines work as
television sets, video recorders and DVD makers. Expect to spend about
$2,000 for one of these. Dell and Hewlett Packard, as well as Apple, are
leading manufacturers.
The other big seller this season is the portable music player and the
coolest design without question is Apple`s iPod. But Microsoft has
challenged Apple`s lead by working with several dozen manufacturers on
products that use its Windows media standard. These products cover a much
greater range than Apple, from $50 gadgets which can store a couple of
hundred songs, to portable media centers which cost $500 and $600 but can
store thousands of songs and also handle video, showing movies and
television programs. Microsoft has set up a web site it calls "plays for
sure" to help consumers select the product that meets their needs.
MIKE COLEMAN, LEAD PRODUCT MANAGER, MICROSOFT WINDOWS DIGITAL MEDIA
DIVISION: You can go up there and say, "I`m looking for a device in this
price range. And I`m looking for it to be able to take it jogging, or take
it on the airplane. I want it to play music. I want it to do video and it
can help you narrow down that selection and point you just to the device
that you want for this holiday season.
GURVEY: Microsoft has also developed software which lets you rent the music
and play it for a limited amount of time. It is less expensive than buying
the music outright. Scott Survey, NIGHTLY BUSINESS REPORT, New York.
To Learn More about this topic, click
here.
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.
12/13/04:
Paul Kangas' "Stocks In The News"
PAUL KANGAS: Wall Street was narrowly mixed this morning amid caution ahead of
the Fed`s rate decision and some disappointment that the October U.S. trade
deficit rose nearly 9 percent to a record high. At noon, the Dow was off
six points while the NASDAQ was up eight. Then, confirming the old axiom
that Wall Street likes what has been predicted, that widely expected .25
percent Fed rate increase helped stocks end on a positive note.
The Dow Industrial Average gained 38.13 points at 10,676.45. The NASDAQ
Composite was up 11 1/3 points at 2159.84. Standard & Poor`s 500 closed up
4.70 at 1203.38. Over in the bond market, the 10-year note climbed 7/32 to
101, putting the yield at 4.13 percent.
New York exchange volume leader on 42.3 million shares, Sprint FON Group
(FON) moving up $0.66. "The Wall Street Journal" today reported Verizon has
the backing of its wireless partner Vodaphone for a potential buy out bid
for Sprint. However, this afternoon, Verizon said it had no imminent plans
to make such a bid.
Lucent Technologies (LU) fell $0.07.
Followed by Time Warner (TWX) up $0.45.
Pfizer (PFE) a $0.17 gain. The first published study of the company`s
Arisept (ph) drug shows significant benefits for early stage Alzheimer`s
patients.
General Electric (GE) a dime loss, even though the company`s chairman this
afternoon told analysts it expects fourth quarter earnings growth in the
double digits and the same for next year.
Motorola (MOT) was down $0.29.
Citigroup (C) moved up a dime.
Merck & Company (MRK) a $0.57 gain. The story on Merck, it`s going to save
$300 million it says next year by cutting 8 percent of its workforce.
That`s 5100 jobs.
Viacom B (VIA.B) down $0.30.
J.P. Morgan Chase (JPM), tenth in volume was up $0.49.
Alcoa (AA) a $0.56 loss after JP Morgan downgraded it from "overweight" to
"neutral" on concerns about rising costs at the firm.
And then another Dow stock, Honeywell International (HON) lost just a
nickel, although Deutsche Bank Securities downgraded it from "buy" to
"hold" and cut its target on the stock by $2 down to $40 a share.
Yet another Dow stock, Boeing (BA) a $0.03 loss even though the company
announced late yesterday it`s boosting its quarterly dividend by 25 percent
from $0.20 to $0.25 a share.
Humana (HUM) moved up $1.12, positive reaction to the company`s acquisition
of Care Plus Health Plans in Florida, which will be immediately accretive
to earnings. As you see, Humana`s paying $408 million for the acquisition.
The Cooper Companies (COO) which makes medical devices, down $5.59. Fourth
quarter earnings were higher, $0.72 versus $0.64 last year, but the company
cut its earnings estimates for the year 2005, 6 and 7 to reflect an
accounting change.
Forest Laboratories (FRX) moved up $2.07. The company is expanding its
stock buy back plan from 20 million shares to 30 million shares to be
repurchased.
And ProQuest Company (PQE) up $4.84, a very positive reaction to the
company`s acquisition of privately held Voyager expanded learning, price,
$360 million in cash and stock.
And CKE Restaurants (CKR) had a good day, up $1.75. Third quarter earnings
were 10 times what they were last year, $0.20 versus only $0.02 a year ago
and that was $0.03 better than the Street estimate.
An initial public offering today, Knoll (KNL), a manufacturer of office
furniture and textiles, 11 million shares offered to the public at $15,
opened at $16.30. The high of the day $17.14, closed very close to that
high.
The NASDAQ 100 (QQQ) topped the active list on NASDAQ, gaining $0.20.
Then Microsoft (MSFT) a $0.02 drop.
Research In Motion (RIMM) tumbled $4.65. The story here, an appeals court
upheld 11 out of 16 claims of patent infringement brought by NTP against
Research in Motion and its Blackberry device and sent the case back to a
lower court to determine if the remaining patents are valid. In after hours
trading, Research in Motion fell over another $1 down to $84.05.
There you see Google (GOOG) jumping $8.24 on that story about libraries.
Nextel Communications (NXTL) showed no change. That was tenth in dollar
volume, make it fifth in dollar volume.
Symantec (SYMC) tumbled $5.41. There`s speculation the company might
acquire Veritas for somewhere around $13 billion. Standard & Poor`s
meanwhile downgraded Symantec from "buy" to "hold."
Intel (INTC) $0.61 gain.
Electronic Arts (ERTS) moved up $3.04. Company signed an exclusive
licensing deal with the National Football League to produce football video
games.
And Veritas Software (VRTS) up $2.19 on those takeover rumors.
Oracle (ORCL) down $0.40.
Adtran (ADTN) tumbled $3.58. The manufacturer of high-speed network access
products sees fourth quarter earnings at $0.16 to $0.18, well below the
$0.25 Street estimate. Raymond James financial downgraded it from "strong
buy" to just "market perform."
Those are the stocks in the news.
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.
12/14/04:
Market Stats
NET PERCENT
CLOSE CHANGE CHANGE
DOW CLOSE 10676.45 +38.13 + .4
HIGH 10695.07
LOW 10621.03
NASDAQ COMP. 2159.84 +11.34 +.5
HIGH 2163.50
LOW 2145.05
VOLUME 1,544.8
PREVIOUS 1,434.1
UP VOLUME 981.6
DOWN VOLUME 526.4
DOW TRANSPORTS 3757.03 +32.07 + .9
DOW UTILITIES 325.70 +.67 + .2
CLOSING TICK +711
S&P 500 1203.38 +4.70 + .4
S&P 100 572.42 +2.01 + .4
MIDCAP 400 651.83 +6.03 + .9
REUTERS/CRB 279.37 +.12 + .0
NYSE COMPOSITE 7124.61 +22.20 + .3
VALUE LINE 397.13 +3.11 + .8
RUSSELL 2000 643.54 +5.51 + .9
DJW 5000 11845.22 +54.93 + .5
U.S. TREASURIES
5-YEAR NOTE 3.50%
Dec. 15,2009 99 29/32 +4/32 + 3.52
10-YEAR NOTE 4.25%
Nov. 15,2014 101 +7/32 + 4.13
30-YEAR NOTE 5.375%
Feb. 15, 2031 108 31/32 +18/32 + 4.77
LEHMAN BROS.
LONG BOND INDEX 1771.80 +2.13
DOW CLOSE 10676.45 +38.13 + .4
ADVANCES 2062
DECLINES 1264
NEW HIGHS 272
NEW LOWS 13
NET PERCENT
NYSE MOST ACTIVES 4PM CLOSE CHANGE CHANGE
FON Sprint 25.10 +.66 +2.7
LU Lucent Tech 3.64 -.07 -1.9
TWX Time Warner 19.38 +.45 +2.4
PFE Pfizer Inc 27.33 +.17 +.6
GE GE 37.38 -.10 -.3
MOT Motorola 16.86 -.29 -1.7
C Citigroup 46.87 +.10 +.2
MRK Merck & Co 29.62 +.57 +2.0
VIAb Viacom "B" 34.00 -.30 -.9
JPM JPMorgan Chase 38.74 +.49 +1.3
NASDAQ CLOSE 2159.84 + 11.34 + .5
VOLUME 2,255.0
PREVIOUS 2,087.1
ADVANCES 1891
DECLINES 1243
NASDAQ ACTIVES
QQQQ Nasdaq 100 40.48 +.20 +.5
MSFT Microsoft 27.23 -.02 -.1
RIMM Rsch In Motion 85.44 -4.65 -5.2
GOOG Google 178.69 +8.24 +4.8
NXTL Nextel Comm 29.99 unch. unch.
SYMC Symantec 27.45 -5.41 -16.5
INTC Intel 23.24 +.61 +2.7
ERTS Electronic Art 60.61 +3.04 +5.3
VRTS Veritas Software 27.38 +2.19 +8.7
ORCL Oracle 14.23 -.40 -2.7
AMEX CLOSE 1404.23 + 5.18 + .4
INDEX SHARES
DIA DIAMONDS TRUST 106.77 +.32 +.3
QQQ NASDAQ 100 40.48 +.20 +.5
SPY S&P DEP.RECEIPTS 120.79 +.42 +.4
STOCKS IN THE NEWS
AA Alcoa 31.75 -.56 -1.7
HON Honeywell Intl 36.40 -.05 -.1
BA Boeing Co 52.64 -.03 -.1
HUM Humana 30.02 +1.12 +3.9
COO Cooper Cos 68.78 -5.59 -7.5
FRX Forest Labs 44.80 +2.07 +4.8
PQE Proquest Co 32.11 +4.84 +17.8
CKR CKE Restaurant 13.80 +1.75 +14.5
KNL Knoll Inc 17.10 +2.10 +14.0
ADTN ADTRAN Inc 18.23 -3.58 -16.4
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