| 08/25/05:
Moody's Wrecks GM & Ford's Credit Rating
JEFF YASTINE: More trouble tonight for two of the nation`s
big automakers. Investors are scrutinizing shares of General
Motors and Ford, after Moody`s became the latest credit rating
agency to slash their debt to junk status. Slipping sales
and competitive cost structures are pressuring the automakers`
bottom line. So today General Motors announced it was extending
its employee discount for everyone plan through September.
Jessica Gottesman reports.
JESSICA GOTTESMAN, NIGHTLY BUSINESS REPORT CORRESPONDENT:
With the cut in GM`s debt ratings, Moody`s is the last major
ratings service to lower the world`s largest automaker`s corporate
bonds to below investment grade. It blames GM`s operating
losses in North America, and says the company needs to restructure
for long-term viability. Moody`s also cut GM`s finance arm,
General Motors Acceptance Corp. to junk. Ford`s debt ratings
were also cut to junk by Moody`s, and the firm issued a negative
outlook for both automakers. Analysts say GM has to solve
several problems before its debt comes back up to investment
grade.
ROBERT E. SCHULZ: If they were to reverse the market share
declines, you know which is another issue that`s been going
on over time and, you know if the profitability per vehicle
improves, certainly that would help. The other issue they
have to address is the large post retirement health care issues
that they have and GM has been very public about talking to
the UAW about that. We don`t see any results of that as yet,
but some movement on that front could also be a positive if
it was to happen.
GOTTESMAN: Also today, GM announced it`s extending the employee
discount for everyone program. The successful promotion started
in June, and will now run through September 30 instead of
ending right after Labor Day. For the first time, some 2006
models are on the list, including some large pickups and SUV`s.
The employee discount deals triggered a 41 percent surge in
sales for GM. In June and a 20 percent increase for July.
August sales so far have been tracking lower, but analysts
say it`s all about pricing.
SCHULZ: The employee pricing arrangements that they`ve rolled
out as Ford has and Chrysler has, those have been fairly successful
at blowing out the `05 inventory. GM`s extended that through
September. So the inventory is down substantially, that`s
a positive. How the `06 model years are accepted, that`s an
uncertainty. Also just how the pricing environment is going
forward, that`s another thing we`re concerned about.
GOTTESMAN: Analysts say investors are less excited about
GM`s sales and would instead like to see some cost cuts. If
the automaker can work out healthcare issues with its union,
that may make the stock more attractive. Jessica Gottesman,
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) 2005 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
08/25/05:
Lawmakers Brace For A Fight To The Death Over The Estate Tax
PAUL KANGAS: Speaking of taxes, members of Congress plan
to tackle a hot issue when they return after Labor Day: the
repeal of the estate tax. There`s talk that lawmakers may
reach a compromise. As Darren Gersh reports, that could frustrate
political activists on both sides of the topic.
DARREN GERSH, NIGHTLY BUSINESS REPORT CORRESPONDENT: For
economic conservatives like Max Pappas, the showdown over
what he calls the death tax is one of the biggest fights of
the fall.
MAX PAPPAS: It`s a showdown on two views of how we want our
taxes to be collected. Do we want death to be a taxable transaction
or do we not want death to be a taxable transaction.
GERSH: Progressives like Adam Hughes call it the estate tax
and say repeal would give billions a year to those who least
need help.
ADAM HUGHES: Anyone who stands to inherit a substantial amount
of money who are already supremely wealthy in our society
will benefit from it. That`s why I think people started call
it the Paris Hilton benefit.
GERSH: Tax figures show just over 1 percent of the 2.4 million
Americans who die every year will leave an estate large enough
to pay taxes. But 99 percent of the tax burden falls on the
top 5 percent of estates. Repealing the tax on these wealthy
families would cost the government $400 billion in revenue
over 10 years. A showdown vote in the Senate is likely early
in September. But analysts say it`s unlikely that a permanent
repeal will win the required 60 votes to survive a filibuster.
If that`s the case, a compromise measure floated by Senator
Jon Kyl may move forward. It would bring down the top estate
tax rate from 47 percent to 15 percent, the same rate paid
on capital gains. And it would increase the estate tax exemption
from $3 million a couple to $16 million. That is not good
enough for the critics who say the estate tax amounts to double
taxation.
PAPPAS: You`re taxing again people and penalizing people
for saving and accumulating wealth.
GERSH: And progressives aren`t pleased with the compromise
either.
HUGHES: If you`re talking the full cost of repeal is $1 trillion
over 10 years, Senator Kyl`s proposal would cost $900 billion.
GERSH: If the issue isn`t resolved this fall, some activists
won`t be upset. Depending on their point of view, they hope
to make the death tax or estate tax an issue in the 2006 elections.
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) 2005 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
08/25/05:
One on One with with Jeff Carney, president of Fidelity Personal
Investments
SUSIE GHARIB: As a growing number of American companies outsource
their business to India, there are growing concerns over one
aspect of that trend and that`s data security. Recent instances
of theft of confidential information are forcing India`s booming
business processing outsourcing or BPO sector, to beef up
security. As Smita Prakash reports from New Delhi, the key
now is to assure customers their data is safe.
SMITA PRAKASH, NIGHTLY BUSINESS REPORT CORRESPONDENT: The BPO
sector has been described as India`s cash cow, growing at 60 to 70 percent
per year. Low cost, processed maturity, time zone advantages and the
availability of educated manpower has helped build the multibillion
industry that serves as the back office for customers around the world.
But the theft of confidential information followed by a sting set up by a
British magazine created major concerns among businesses about the security
of their data at Indian BPO companies.
ANANTH KOPPAR, PRESIDENT, MPHASIS TECHNOLOGIES: One very good thing
is that we have good cyber laws and cyber security is very good, compared
to many of the developing countries and the developed countries. This kind
of fraud happens day in and day out in many large countries and where it
happened, in a very small operation in India, but I think we have given the
full control.
PRAKASH: India`s BPO responded with stronger background checks of
employees, heavier security, and monitoring through state-of-the-art
technology at call centers handling confidential information. Employers
also stepped up security training and established ethics hotlines to try
and stop any illegal activities by workers.
ASHEESH MISHRA, ASST. SALES MANAGER, TECHNOVATE: (INAUDIBLE)
recruitment, (INAUDIBLE) there were three checks that were made, the
previous history with the employer that I worked with. Then we had another
course which is called BSM799. It`s a mandatory course that we have to go
through and clear it before we join a company like this. That course is
all about where we learn about the data, how to keep the data secured. And
part of procedures that you have to go through. Once you finally cross it,
that`s how you get it, get a chance to join this company.
PRAKASH: Along with new ways to track offenders, the government
began titling its cyber laws. Indian officials know the sector is the
biggest contributor to the economy. They promised to do all that is needed
to protect it.
KIRAN KARNIK, DIRECTOR GENERAL, NASSCOM: We have set up a
(INAUDIBLE) laboratory because of (INAUDIBLE) fingerprinting of forensic
laboratory where you`re really able to start collecting, collect
evidence, get it all together. So this (INAUDIBLE) goes on. But it`s an
ongoing one.
PRAKASH: Security which had always been important has now become
more important than ever before at the BPO centers.
These are the modern Taj Mahals of India, gleaming glass buildings that
house thousands of English-speaking customer service representatives who
answer tech support calls and credit card questions. They realize
that if they are to grow their business, they need to protect customer data
in order to sustain global consumer confidence, without which the Indian
BPO industry cannot survive. Smita Prakash, NIGHTLY BUSINESS REPORT, New
Delhi.
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) 2005 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
08/25/05:
"Commentary": A Look At Labor
JEFF YASTINE: Tonight`s commentator says with the Labor Day
holiday approaching, now is a good time to look at how the
labor movement in the U.S. has changed over the years. Here`s
Irving R. Levine, dean of international studies at Lynn University
and former chief economics correspondent for NBC News.
IRVING R. LEVINE, LYNN UNIVERSITY: The other day I phoned
AOL for help on a problem I was having. I asked the technician
at the 800 number where he was located. "Bangalore, India,"
he replied. A few days later I phoned United Airlines and
the agent was speaking from Halifax, Nova Scotia. I mention
these encounters because they reflect one of the problems
confronting workers as Labor Day approaches. But there are
other problems besides the outsourcing of jobs. For one thing,
many workers` wages are barely keeping pace with inflation.
For unions, the biggest problem is the decline in bargaining
clout. A half century ago, 35 percent of workers were union
members. Today, fewer than 15 percent. Ironically, organized
labor`s troubles are in part the result of labor`s successes.
The benefits unions fought for years ago are now the law of
the land. It`s no longer necessary to join a union to fight
for a five-day work week, the minimum wage or overtime pay.
So this Labor Day, wage earners might well pause in their
shopping and picnicking to thank the early unionists for the
benefits they enjoy today. I am Irving R. Levine.
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) 2005 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
08/25/05:
"Last Word"-Jollibee Comes To America
JEFF YASTINE: It has been hailed for years by major business
publications as the number one company in the Philippines.
Last year, its CEO was named Ernst & Young`s world entrepreneur
of the year. And chances are, you`ve never even heard of it,
because beyond the shores of the Philippines, Jollibee has
barely made a dent. As Rian Maelzer reports, that may be changing.
RIAN MAELZER, NIGHTLY BUSINESS REPORT CORRESPONDENT: Jollibee
serves more than half of all fast food meals dished out in
the Philippines. In just over a quarter century, it`s gone
from a pair of ice cream parlors to a 500 store chain acquiring
two existing fast food companies along the way. Jollibee has
become part of the landscape, like part of the local culture.
UNIDENTIFIED FEMALE: All of my kids celebrate their first
birthday at Jollibee.
UNIDENTIFIED MALE: Does it have a Filipino taste and (INAUDIBLE)
go here compared to McDonald`s or Burger King.
LEO VENEZUELA: They have been really able to identify the
taste preferences of Filipinos, simply for filling that need.
MAELZER: That`s more challenging than it sounds, the company
founder says --
TONY TAN CAKTIONG: You need good research and development
team. You need good operations team to execute. You need people
that are passionate about serving customers.
MAELZER: The company has ambitions beyond the Philippines.
When Jollibee has opened its burger restaurants in places
such as California and Hong Kong, locally based Filipinos
have flooded the restaurants eager for a taste of home. But
expanding that appeal to non-Filipinos is proving a tougher
time.
CAKTIONG: Can we really do this again outside the Philippines,
that`s our biggest challenge. And I am confident that we can
do it.
MAELZER: Lately the company has shifted strategy. It`s begun
acquiring existing foreign fast food chains, been injecting
their know how as they recently did with the Yung Her (ph)
chain in China. That chain has 90 stores and is now the fastest
growing part of Jollibee`s empire.
CAKTIONG: We bring in our chain operation technology, like
how to look for good locations, how to acquire and how to
train people. (INAUDIBLE) running the chain we`re trying to
transfer the technology.
MAELZER: Not that the growth potential has been exhausted
at home. Jollibee opened a record number of restaurants in
the Philippines last year and expects to open 20 to 30 new
stores annually for years to come for each of its three local
brands.
VENEZUELA: It`s very focused. He knows the market and I don`t
think that success has got to his head. I think that`s the
reason why Jollibee is still where it is right now and I think
it`s poised for even greater heights in the future.
MAELZER: Outside the Philippines, the Jollibee may never
be as famous as Ronald McDonald, but should the company make
an international success of its fast food formula, even if
it`s without its original brand name, Jollibee Foods Corporation
could be poised for another quarter century worth celebrating.
Rian Maelzer, NIGHTLY BUSINESS REPORT, Manila.
JEFF YASTINE: It has been hailed for years by major business
publications as the number one company in the Philippines.
Last year, its CEO was named Ernst & Young`s world entrepreneur
of the year. And chances are, you`ve never even heard of it,
because beyond the shores of the Philippines, Jollibee has
barely made a dent. As Rian Maelzer reports, that may be changing.
RIAN MAELZER, NIGHTLY BUSINESS REPORT CORRESPONDENT: Jollibee
serves more than half of all fast food meals dished out in
the Philippines. In just over a quarter century, it`s gone
from a pair of ice cream parlors to a 500 store chain acquiring
two existing fast food companies along the way. Jollibee has
become part of the landscape, like part of the local culture.
UNIDENTIFIED FEMALE: All of my kids celebrate their first
birthday at Jollibee.
UNIDENTIFIED MALE: Does it have a Filipino taste and (INAUDIBLE)
go here compared to McDonald`s or Burger King.
LEO VENEZUELA: They have been really able to identify the
taste preferences of Filipinos, simply for filling that need.
MAELZER: That`s more challenging than it sounds, the company
founder says --
TONY TAN CAKTIONG: You need good research and development
team. You need good operations team to execute. You need people
that are passionate about serving customers. Mentioned Last
Change
PH 63.95 0.05dollars or (0.07%)
MAELZER: The company has ambitions beyond the Philippines.
When Jollibee has opened its burger restaurants in places
such as California and Hong Kong, locally based Filipinos
have flooded the restaurants eager for a taste of home. But
expanding that appeal to non-Filipinos is proving a tougher
time.
CAKTIONG: Can we really do this again outside the Philippines,
that`s our biggest challenge. And I am confident that we can
do it.
MAELZER: Lately the company has shifted strategy. It`s begun
acquiring existing foreign fast food chains, been injecting
their know how as they recently did with the Yung Her (ph)
chain in China. That chain has 90 stores and is now the fastest
growing part of Jollibee`s empire.
CAKTIONG: We bring in our chain operation technology, like
how to look for good locations, how to acquire and how to
train people. (INAUDIBLE) running the chain we`re trying to
transfer the technology.
MAELZER: Not that the growth potential has been exhausted
at home. Jollibee opened a record number of restaurants in
the Philippines last year and expects to open 20 to 30 new
stores annually for years to come for each of its three local
brands.
VENEZUELA: It`s very focused. He knows the market and I don`t
think that success has got to his head. I think that`s the
reason why Jollibee is still where it is right now and I think
it`s poised for even greater heights in the future.
MAELZER: Outside the Philippines, the Jollibee may never
be as famous as Ronald McDonald, but should the company make
an international success of its fast food formula, even if
it`s without its original brand name, Jollibee Foods Corporation
could be poised for another quarter century worth celebrating.
Rian Maelzer, NIGHTLY BUSINESS REPORT, Manila.
JEFF YASTINE: It has been hailed for years by major business
publications as the number one company in the Philippines.
Last year, its CEO was named Ernst & Young`s world entrepreneur
of the year. And chances are, you`ve never even heard of it,
because beyond the shores of the Philippines, Jollibee has
barely made a dent. As Rian Maelzer reports, that may be changing.
RIAN MAELZER, NIGHTLY BUSINESS REPORT CORRESPONDENT: Jollibee
serves more than half of all fast food meals dished out in
the Philippines. In just over a quarter century, it`s gone
from a pair of ice cream parlors to a 500 store chain acquiring
two existing fast food companies along the way. Jollibee has
become part of the landscape, like part of the local culture.
UNIDENTIFIED FEMALE: All of my kids celebrate their first
birthday at Jollibee.
UNIDENTIFIED MALE: Does it have a Filipino taste and (INAUDIBLE)
go here compared to McDonald`s or Burger King.
LEO VENEZUELA: They have been really able to identify the
taste preferences of Filipinos, simply for filling that need.
MAELZER: That`s more challenging than it sounds, the company
founder says --
TONY TAN CAKTIONG: You need good research and development
team. You need good operations team to execute. You need people
that are passionate about serving customers.
MAELZER: The company has ambitions beyond the Philippines.
When Jollibee has opened its burger restaurants in places
such as California and Hong Kong, locally based Filipinos
have flooded the restaurants eager for a taste of home. But
expanding that appeal to non-Filipinos is proving a tougher
time.
CAKTIONG: Can we really do this again outside the Philippines,
that`s our biggest challenge. And I am confident that we can
do it.
MAELZER: Lately the company has shifted strategy. It`s begun
acquiring existing foreign fast food chains, been injecting
their know how as they recently did with the Yung Her (ph)
chain in China. That chain has 90 stores and is now the fastest
growing part of Jollibee`s empire.
CAKTIONG: We bring in our chain operation technology, like
how to look for good locations, how to acquire and how to
train people. (INAUDIBLE) running the chain we`re trying to
transfer the technology.
MAELZER: Not that the growth potential has been exhausted
at home. Jollibee opened a record number of restaurants in
the Philippines last year and expects to open 20 to 30 new
stores annually for years to come for each of its three local
brands.
VENEZUELA: It`s very focused. He knows the market and I don`t
think that success has got to his head. I think that`s the
reason why Jollibee is still where it is right now and I think
it`s poised for even greater heights in the future.
MAELZER: Outside the Philippines, the Jollibee may never
be as famous as Ronald McDonald, but should the company make
an international success of its fast food formula, even if
it`s without its original brand name, Jollibee Foods Corporation
could be poised for another quarter century worth celebrating.
Rian Maelzer, NIGHTLY BUSINESS REPORT, Manila.
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) 2005 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
08/25/05:
"Paul Kangas' Stocks In The News"
PAUL KANGAS: Wall Street opened higher as bargain hunters
moved in after yesterday`s sell-off. Another plus was a larger
than expected drop of 4,000 in weekly jobless benefit claims.
At mid-morning, the Dow was up 25 points and NASDAQ up nine.
Stocks then moved in the opposite direction of oil prices,
fading when they surged over $68 and then making a late comeback
when oil eased a bit.
The Dow Industrial average gained 15 3/4 points to 10,450.63.
The NASDAQ Composite was up 5 1/2 points at 2134.37. Standard
& Poor`s 500 rose 2 3/4 points ending at 1212.40. In the
bond market, the 10-year note rose 3/32 to par and 23/32,
putting the yield at 4.16 percent.
Most active issue on the big board was Lucent Technology
(NYSE:LU) for several times this week and it was down $0.07,
a little profit taking after Prudential upgraded it earlier
in the week and the stock had a little run up.
Then came Pfizer (NYSE:PFE), $0.19 loss.
GE (NYSE:GE) edged down $0.04.
ExxonMobil (NYSE:XOM) on those higher oil price up $0.30.
And Hewlett-Packard (NYSE:HPQ) fifth in volume, up $0.18.
Sprint Nextel (NYSE:S) dropped $0.20.
Followed by Citigroup (NYSE:C) with a $0.37 gain.
Motorola (NYSE:MOT) up $0.08.
Then the big gainer of the day, York Intl (NYSE:YRK) up $15.04
or 36 percent. After the close yesterday, as we reported,
Johnson Controls agreed to acquire the company for $56.50
a share in cash. Some think other bidders may emerge, could
be a little bidding war. And rising in sympathy with some
other air conditioning stocks like Lennox, which was up $1.35
to $24.46.
Time Warner (NYSE:TWX), tenth in volume, rose $0.09 a share.
And then Toll Brothers (NYSE:TOL), what`s this, a home builder
with a loss in its stock, down $1.90? Third quarter earnings
were $1.27, way up from $0.66 last year, $0.08 above the Street
estimate. But the company sees 2006 revenues barely topping
$7 billion. That`s below the Street estimate of $7.3 billion,
hence a little loss in the stock.
Mercury General (NYSE:MCY), the insurance company, up $2.70.
It`s going to be added to the Standard & Poor`s madcap
400 index after the close next Wednesday, replacing Hibernia,
which Capital One is acquiring.
Martha Stewart Living (NYSE:MSO) up $3.12 today. Martha herself
outlined plans for her two upcoming television programs and
investors apparently liked what they heard.
Aeropostale (NYSE:ARO) up $1.35. Piper Jaffray upgraded it
from "market perform" to "out perform."
And then Certegy (NYSE:CEY) up $1.54. The company`s in the
credit and debit card processing business. The AG Edwards
brokerage upgraded it from "hold" to a "buy."
Then we get to Jackson Hewitt Tax Service (NYSE:JTX) down
$1.12. First quarter loss of $0.31, a penny worse than expected
and that`s excluding one-time items and revenues actually
fell 30 percent in the period.
Westlake Chemical (NYSE:WLK) down $1.90. CS First Boston
has cut earnings projections on a number of chemical companies
like Westlake.
And then Dave & Buster`s (NYSE:DAB) down $3.01. The company
sees lower than expected second quarter results, actually
a loss of $0.08 to $0.09 because of disappointing performance
of the recently acquired Julian`s stores. The company cut
its 2006 estimate from $1.15 to $1.23 to only $0.64 to $0.70
a share.
Topping NASDAQ was Google (NASDAQ:GOOG) $0.02 gain.
Microsoft (NASDAQ:MSFT) $0.22 gain.
Intel (NASDAQ:INTC) $0.07 loss.
Cisco Systems (NASDAQ:CSCO) down $0.04.
And Dell (NASDAQ:DELL) rose $0.10. That was fifth in dollar
volume.
Research in Motion (NASDAQ:RIMM) $2.37 gain.
Amylin Pharmaceutical (NASDAQ:AMLN) $1.48 rise.
Apple Computer (NASDAQ:AAPL) up $0.29.
Yahoo! (NASDAQ:YHOO) gained a penny.
And then tenth in volume was eBay (NASDAQ:EBAY) with an $0.08
loss.
PetsMart (NASDAQ:PETM) down $3.86. The company cut its third
quarter earnings estimate to $0.21 from the Street estimate
of $0.26 because of more competition and higher fuel prices.
And then over on the American exchange, LaBarge (AMEX:LB),
which makes high performance electronics, had higher fourth
quarter earnings, but sees first quarter dropping to $0.12
to $0.13 on a dip in sales.
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) 2005 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
08/25/05:
Market Stats
NET PERCENT
CLOSE CHANGE CHANGE
DOW CLOSE 10450.63 +15.76 + .2
HIGH 10465.36
LOW 10428.34
NASDAQ COMP. 2134.37 +5.46 +.3
HIGH 2138.46
LOW 2129.46
VOLUME 1,200.6
PREVIOUS 1,454.3
UP VOLUME 723.9
DOWN VOLUME 453.8
DOW TRANSPORTS 3695.95 +29.98 + .8
DOW UTILITIES 402.11 +4.67 + 1.2
CLOSING TICK +207
S&P 500 1212.40 +2.81 + .2
S&P 100 561.74 +.78 + .1
MIDCAP 400 704.85 +2.49 + .4
REUTERS/CRB 318.33 -1.69 - .5
NYSE COMPOSITE 7434.58 +17.16 + .2
VALUE LINE 406.74 +1.36 + .3
RUSSELL 2000 657.70 +2.69 + .4
DJW 5000 12120.03 +23.66 + .2
U.S. TREASURIES
5-YEAR NOTE 4.125%
Aug. 15,2010 100 12/32 -1/32 + 4.04
10-YEAR NOTE 4.25%
Aug. 15,2015 100 23/32 +2/32 + 4.16
30-YEAR NOTE 5.375%
Feb. 15, 2031 115 12/32 +13/32 + 4.37
LEHMAN BROS.
LONG BOND INDEX 1819.28 +4.61
DOW CLOSE 10450.63 +15.76 + .2
ADVANCES 1930
DECLINES 1324
NEW HIGHS 72
NEW LOWS 30
NET PERCENT
NYSE MOST ACTIVES 4PM CLOSE CHANGE CHANGE
LU Lucent Tech 3.08 -.07 -2.2
PFE Pfizer 24.87 -.19 -.8
GE GE 33.50 -.04 -.1
XOM Exxon Mobil 59.18 +.30 +.5
HPQ Hewlett-Packard 26.90 +.18 +.7
S Sprint Nextel 25.76 -.20 -.8
C Citigroup 43.42 +.37 +.9
MOT Motorola 21.04 +.08 +.4
YRK York Intl 56.79 +15.04 +36.0
TWX Time Warner 17.64 +.09 +.5
NASDAQ CLOSE 2134.37 + 5.46 + .3
VOLUME 1,337.3
PREVIOUS 1,767.3
ADVANCES 1626
DECLINES 1383
NASDAQ ACTIVES
GOOG Google 282.59 +.02 +.0
MSFT Microsoft 27.03 +.22 +.8
INTC Intel 25.46 -.07 -.3
CSCO Cisco Systems 17.48 -.04 -.2
DELL Dell 35.48 +.10 +.3
RIMM Rsch In Motion 78.32 +2.37 +3.1
AMLN Amylin Pharm 30.34 +1.48 +5.1
AAPL Apple Computer 46.06 +.29 +.6
YHOO Yahoo! 33.48 +.01 +.0
EBAY eBay 38.88 -.08 -.2
AMEX CLOSE 1627.72 + 9.04 + .6
INDEX SHARES
DIA DIAMONDS TRUST 104.44 +.26 +.3
QQQ NASDAQ 100 38.59 +.09 +.2
SPY S&P DEP.RECEIPTS 121.55 +.40 +.3
STOCKS IN THE NEWS
TOL Toll Brothers 48.10 -1.90 -3.8
MCY Mercury General 58.40 +2.70 +4.9
MSO Martha Stewart 29.19 +3.12 +12.0
ARO Aeropostale 25.36 +1.35 +5.6
CEY Certegy 35.54 +1.54 +4.5
JTX Jackson Hewitt Tax 24.60 -1.12 -4.4
WLK Westlake Chemical 26.85 -1.90 -6.6
DAB Dave & Busters 15.65 -3.01 -16.1
PETM PetSmart 24.65 -3.86 -13.5
LB LaBarge 13.38 -3.26 -19.6
|
