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9/08/05: Hurricane Katrina Causes A Storm Of Uncertainty In Oil
SUSIE GHARIB: A volatile day in the oil markets. Oil prices
dropped in reaction to new data showing hurricane Katrina`s impact on the
nation`s petroleum supplies was not as bad as many had feared. But crude
futures bounced back by the close, edging up $0.12 to $64.49. As Erika
Miller reports, there`s considerable debate about where prices head from
here.
ERIKA MILLER, NIGHTLY BUSINESS REPORT CORRESPONDENT: Shoulder to
shoulder, traders shouted, jumped and waved, eager to trade crude oil in
reaction to the government`s inventory data. The report showed Katrina`s
damage to energy supplies was not nearly as bad as expected. The October
crude contract fell as low as $63.10 before recovering.
JAMES STEEL, COMMODITIES ANALYST, REFCO: We were expecting large stock
declines. We did get large stock declines, but not as bad as we had feared.
MILLER: Crude oil inventories fell by 6.4 million barrels last week
and gasoline supplies shrank by 4.3 million barrels. Distillate
inventories, which include heating oil, dropped by 800,000 barrels.
There`s wild disagreement about where crude prices head from here.
RAYMOND CARBONE, OIL TRADER, PARAMOUNT OPTIONS: I think many traders
would say they wouldn`t be surprised if we go to $55, but they certainly
wouldn`t be surprised if we went to $75.
MILLER: Those in the $55 camp say there has been major progress in
rebuilding Gulf coast oil production and refining operations after
hurricane Katrina. Plus, members of the International Energy Agency will
release about two million barrels of petroleum products a day to ease
shortages. Now that the summer driving season is ending, there could be a
decline in demand for gasoline and a decline in demand for crude. But some
traders expect demand for crude could actually increase in the coming
weeks, pushing prices higher. They predict high natural gas prices will
force many power plants to use residual fuel, a crude derivative for their
power generation. But there is one thing traders seem to agree on: crude
prices are likely to be especially volatile in coming weeks.
CARBONE: This market has never been more vulnerable to another hiccup,
disruption, geopolitical event, than it is now. We`re already tense. We
were tense before Katrina. And things are just been made worse by that
event.
MILLER: Analysts say it could be several weeks before they have an
accurate read of Katrina`s impact on oil inventories. That`s because
there`s often a lag time before a significant supply disruption shows up in
the government`s data. Erika Miller, 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.
09/08/05:
Recovering From Katrina: Back To Work & Back To School
SUSIE GHARIB: While the cleanup continues along the Gulf coast tonight, new
efforts are under way to rebuild the lives of Katrina`s refugees. For the
thousands of people who now call Houston, Texas home, that means finding
food, shelter, and jobs. As we continue our ongoing series "Recovering
from Katrina," Washington bureau chief Darren Gersh is in Houston tonight,
looking at how its newest residents are starting new lives.
DARREN GERSH, NIGHTLY BUSINESS REPORT CORRESPONDENT: Recruiter Dennis
Lyons came to the shelter in the Houston convention center with a mandate
from his boss: find electricians to help repair the destruction left by
Katrina.
UNKNOWN: Are you willing to go to the Gulf coast? Sure.
GERSH: Lyons is one of the many employers bringing much-needed work to
survivors of hurricane Katrina.
DENNIS LYONS, TRADE SOURCE RECRUITER: Our job order is to get 30 to 40
people on our job site starting next week.
GERSH: The first to interview is Ray Sellers from New Orleans. If his
tests and paperwork check out, Ray will be on the job Monday.
RAY SELLERS, HURRICANE EVACUEE: As soon as I get my electrical license
from the state of Texas, so hopefully some time next week.
GERSH: In Houston the mission at the hurricane shelters has shifted
from survival to social services. This morning, buses rolled from
downtown, taking newly registered students to school. For the adults, the
job now is to look for work. State Representative Rick Noriega is in
charge of the aid effort at the Houston convention center. He says there`s
no shortage of demand for skilled labor.
STATE REP. RICK NORIEGA, (D) HOUSTON: We always have a teacher
shortage. We always have a nursing shortage. We always have some para-
professional kind of needs. Those things are clear.
GERSH: This is the line to register for FEMA benefits and the front of
the line stretches another 100 yards or so in that direction and stretches
back perhaps two city blocks. Now the officials here in Houston believe
the number of people who actually register for FEMA here in Houston will be
the best indication of the potential work force coming into this city.
There`s just one problem: the FEMA servers are crashing so frequently, it
is delaying the registration process and making it difficult to get an
accurate count.
This isn`t the first time Texas has absorbed an exodus of workers from
the Gulf coast. Pauline Gallien is managing the convention center job site
for the Texas Workforce Commission. Gallien herself came to Houston as
part of what the Louisiana newspapers called the brain drain of the 1980s
and `90s, when educated workers left the Gulf coast for jobs in the booming
Texas economy. Gallien says it`s happening again because of Katrina.
PAULINE GALLIEN, TEXAS WORKFORCE COMMISSION: We got a big drain. We
got a massive drain. In the `80s and `90s, a lot of us left the state of
Louisiana to come to the land of better opportunity in Texas, and I`ll tell
you. I would say 40 to 50 percent of the people I`ve personally spoken to
don`t plan to go back home. They want to work here.
GERSH: Job growth has been slow in Houston. Over the last year, the
city has added roughly 30,000 jobs. But that is still better than the job
market Sadie Hepburn left behind in St. Bernard, Louisiana.
SADIE HEPBURN, HURRICANE EVACUEE: St. Bernard, it was very, very
scarce. You were lucky if you got a job within two days after you applied.
It was maybe three months after you applied, they would call you back for a
job.
GERSH: There are no good estimates, but it`s possible the Houston area
may see another 100,000 workers join its post-Katrina ranks. That means
more CPAs, lawyers and computer techs like Terran Guillory.
TERRAN GUILLORY, HURRICANE EVACUEE: It`s a nice place. I think I
want to just relocate here and eventually open up a small business of my
own.
GERSH: But Guillory is willing to take other jobs too. "Work is
work," he says. Darren Gersh, NIGHTLY BUSINESS REPORT, Houston.
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.
09/08/05:
Labor Secretary Elaine Chao On Katrina's Impact On Labor
PAUL KANGAS: Getting evacuees working again in Houston and around the
country is job one for the Labor Department. Ten thousand new unemployment
claims were filed last week in the Gulf states that Katrina hit. Stephanie
Dhue talked with Labor Secretary Elaine Chao today, and began by asking how
many job losses are expected in coming weeks.
ELAINE CHAO, LABOR SECRETARY: It`s really going to be hard to tell,
because these numbers will take some time to gel and given the current
breakdown in infrastructure, it`s very hard for us to collect unemployment
numbers, also initial claims filed. So we`ll have to see.
STEPHANIE DHUE, NIGHTLY BUSINESS REPORT CORRESPONDENT: How many people
work in the hurricane region and what kind of job loss are you expecting?
CHAO: In the whole Gulf area, there were approximately 960,000
workers, jobs. So we`re looking at obviously significant regional
devastation. But as for whether that is going to translate into a national
impact, I think that is a little too early to tell as well.
DHUE: We actually saw a reduced number of people filing first time
unemployment claims because they couldn`t get there to file. How are you
going to help people file their claims?
CHAO: The reduced number of claims for this past week is also due to
the fact that the states were unable to file their reports with us. So it
will take several weeks, a couple of weeks for us to get more definite
numbers. We`re obviously very concerned about providing assistance,
immediate income assistance to people who are now out of work. There are
many people who cannot work because their place of employment is under
water or completely devastated. So for them we have unemployment
insurance. And we have a nationwide network of 3500 what`s called one-stop
career centers. And for people who are away from the devastated areas and
the majority of people are, they do not have to return to their home
community to file for these claims.
Second, we also have programs available, income assistance programs
available for people who are usually not eligible for unemployment
insurance like the newly employed or the self employed. And so for them,
we have set up a different kind of program. It`s called disaster
unemployment assistance. So one way or the other, we`re going to make sure
that dislocated workers have some income support so that they can make
decisions for themselves as to what they want to do next. And then lastly,
I have just signed off within the last six days $191 million in national
emergency grants that will create about 47,500 temporary jobs to help this
devastated area. These jobs will be involved in clean up and recovery and
they`re also going to put a paycheck in workers` hands.
DHUE: How do people get the help they need? Do they call FEMA or do
they have to go to each different agency?
CHAO: We are very focused on the practicalities of accessing aid for
these dislocated workers and for other people in the area. So, for
example, we have teams of people canvassing neighborhood by neighborhood as
the waters recede. We go to churches, relief centers, evacuee centers armed
with laptops and we sign people up. We also have a toll free number and we
say to people, if you have access to a telephone, please call the toll free
number. It`s operational throughout the country. It`s 1-866-4usadol. And
once they call that number, there will be caring and compassionate
professionals who are working 24/7 who are able to advise them on which
program best fits their needs.
DHUE: You`re going to be traveling to the Gulf region. Tell us about
what you will be doing there.
CHAO: I`m going to be visiting the evacuee centers and places where
dislocated workers can be found. We have a mobile unit right outside of
the Astrodome in Houston, Texas. I will be visiting there. We also have a
job fair in Dallas, Texas right today and a job fair in Houston next week,
so I want to go and see how these job fairs are coming along. Employers
have been so forthcoming and participating in these job fairs and I want
them to continue to participate.
DHUE: Labor Secretary Elaine Chao, thank you.
CHAO: Thank you.
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.
09/08/05
One On One With Rich Templeton, CEO Texas Instruments
SUSIE GHARIB: Texas Instruments raised its third quarter revenue and profit
forecast after the bell today. The world`s biggest maker of cell phone
computer chips said it now sees revenues of $3.4 billion to $3.6 billion,
and earnings per share of $0.36 to $0.38. This afternoon, I talked with
the company`s CEO, Rich Templeton and asked why he`s so positive about the
outlook.
RICHARD TEMPLETON, PRESIDENT & CEO, TEXAS INSTRUMENTS: Right spaces,
the whole communications world is growing fast. The entertainment world is
growing fast. Cell phones, be it digital TVs, so we think that`s got good
signs. Forecasting in this business is always questionable in terms of the
intermediate term, so we pay attention to being in the right spaces and
good things usually come from doing that.
GHARIB: Mr. Templeton, one of the concerns for investors is about
potential inventory build up and the impact that that might have on your
profitability. What can you tell us about that?
TEMPLETON: Well, if you look at the inventory situation at the close
of second quarter, in general inventories look good. And good means
distributors were down. Most of the end customers, contract manufacturers
down. Our own inventories were actually down in that quarter as well. If
you look at the semiconductor world, when inventories are low, there is
usually better things ahead.
GHARIB: Texas Instruments name is synonymous with cell phones. How is
demand for cell phones?
TEMPLETON: If you look at the demand environment, a lot of people are
talking cell phones at 750 million phones this year. To put that in
perspective, that`s probably four times the size of the PC market. So the
market so far looks pretty good, looks strong. Great growth in high end,
great growth in low end as merging economies like India and China are
buying more phones and going deeper into their populations.
GHARIB: Certainly while demand is strong, pricing is an issue because
these cell phones are getting cheaper and cheaper. So what are the
ramifications of that for Texas Instruments` profits and margins?
TEMPLETON: We think it`s great ramifications, because in our business,
being able to deliver more at a lower price let`s market grow, let a market
grow very fast. So we think that`s been the secret on cell phones and we
engineer our platforms to be lower cost for lower cost phones, so as a
result we can hold and deliver the right type of margins even with prices
coming down in these handsets.
GHARIB: I understand that traditionally October, November and December
are seasonably slower months for Texas Instruments. So how are things
looking for the rest of the year?
TEMPLETON: We clearly have a large Christmas season which is stronger
second half compared to first half. And if you take a look, that is TV
buying, things we`re doing in the HDTV space with (INAUDIBLE). Cell phones
are very popular items at that time of year. So those things look,
continue to look like the right spaces to be.
GHARIB: Today you introduced a whole new line of chips and software
for consumers -- to be used in consumer products like video phones and
digital cameras. Why are you moving into this area?
TEMPLETON: Because video is the future. Voice has had a big impact.
If you look at cell phones and our DSPs (ph) have been at the heart of that
and video is going to be a heart of a lot of the electronic and personal
electronics of the future.
GHARIB: Do you see this as the next big platform for growth?
TEMPLETON: I think you`re going to find you come interview in five
years or 10 years, video is going to be integral to most of the electronics
that are going on in industry. And that`s the importance of today`s
platform announcement.
GHARIB: Now Texas instruments stock has been a really top performer
over the past year. What do you see as the next catalyst to move the stock
even higher?
TEMPLETON: What we`ve got to deliver is growth and we`ve got to turn
that growth into good earnings and that`s really what we`re keeping the
place focused on. We believe that our strategy of DSP and analog really is
centered in the right place. If you take a look at our second quarter
performance, we think we started building more confidence out on the street
in terms of our ability to convert that into good margins. And we have
just got to stay focused as a company on those things.
GHARIB: Mr. Tempelton, thank you very much. We appreciate your time.
TEMPLETON: Thanks.
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.
09/08/05:
"Commentary"- Can The Automotive Industry Drive The Medical Profession
SUSIE GHARIB: Tonight's commentator says sometimes you can learn some
valuable lessons if you`re willing to push the envelope. Here`s Tom
Stewart, editor of the "Harvard Business Review."
TOM STEWART, EDITOR, HARVARD BUSINESS REVIEW: Hospitals are enormous
enterprises. Massachusetts General Hospital is the largest non-government
employer in the city of Boston. In Houston, the Texas Medical Center
occupies a campus the size of Chicago`s loop. These are the world`s
biggest, most complex workplaces, doing everything from neurosurgery to
laundry. We all know medical care is a mess, so it stands to reason that
hospitals should study other complex work environments for ideas. And some
have.
They`ve been studying Toyota. If you`ve ever been inside an
automobile assembly plant, you know how complex they are. Toyota`s
renowned production system has produced steadily rising quality and
steadily lower costs. It turns out that the same management principles make
a huge difference in hospitals. In Pittsburgh, hospitals applying Toyota
ideas have reduced by 50 percent the number of infections associated with
intravenous catheters called central lines. If that were extrapolated
nationwide, we`d save over $3 billion and up to 30,000 lives, just from
reducing central line infection rates.
A lot of this work is being led and documented by Steven Spear ,
formerly of Harvard Business School and now at the Institute for Healthcare
improvement in Cambridge, Massachusetts. Spear estimates that the
potential savings could reach tens, even hundreds of billions of dollars
and hundreds of thousands of lives. Every hospital administrator and board
member ought to be learning about Steve Spear`s work, now. I`m Tom
Stewart.
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.
09/08/05:
"Paul Kangas' Stocks In The News"
PAUL KANGAS: Stocks headed lower this morning in response to that bounce in
oil prices. At midmorning, the Dow was down 36 points, NASDAQ off three.
The market firmed up as oil eased during midday, but the rally was hindered
when crude went on to close higher. So the Dow industrial average came in
with a loss of 37 1/2 points at 10,595.93. NASDAQ Composite fell 6 points
to 2166.03. Standard & Poor`s 500 down 4.69 at 1231.67. In the bond
market, the 10-year note feel 2/32 to par and 26/32, lifting the yield to
4.15 percent.
The most active New York exchange issue on 16.4 million shares,
Calpine (CPN) moving up $0.16. The company is forming a joint venture with
Bear Stearns to trade in new deals in the natural gas and power markets.
Pfizer (PFE) moved up $0.21. An FDA panel is favoring the company new
inhalable drug to treat diabetes. It`s called Exubera (ph) or Exubera I
guess it`s pronounced.
EMC Corp (EMC) down $0.44.
Time Warner (TWX) a $0.06 drop there.
Hewlett-Packard (HPQ) $0.39 gain. That was fifth in big board volume.
General Electric (GE) dropped $0.16.
And then Coca-Cola Enterprises (CCE) falling $2.11. The company said
European volume was below expectations and it sees third quarter earnings
below the $0.51 per share Wall Street consensus.
Lucent Technology (LU) dropped a nickel.
And then Taiwan Semiconductor (TSM) moving up $0.14. It`s the world`s
largest contract maker of microchips and Taiwan had a smaller than expected
decline in August sales. Stock moved up.
Motorola (MOT) was tenth in volume, up $0.30 a share.
National Semiconductor (NSM) gained $1.44. First quarter earnings
were down $0.24 versus $0.31 last year, but $0.03 better than the Street
estimate. The company also plans to buy back up to $400 million of its own
stock.
Arrow Electronics (ARW) up $1.49. Morgan Stanley upgraded it from
"under weight" to "equal weight."
Then the home builders, Hovnanian Enterprises (HOV) off $4.10. Third
quarter earnings sharply higher, $1.76 versus last year`s $1.33 but $0.02
below the Street consensus. The company did back its $7 per share 2005
earnings guidance, but that`s $0.24 below the Street estimate. This had an
impact on many other of the housing or home building stocks.
Beazer Homes (BZH) down over $2.
And losses in Lennar (LEN) and KB Home (KBH) of over $1 per share.
Barr Pharmaceuticals (BRL) up $3.08. Fourth quarter earnings out
today, $0.77, a nickel above the Street estimate, way up from $0.13 last
year. Standard & Poor`s repeated a "buy" recommendation.
Then the major loser, down over 68 percent, Whitehall Jewelers (JWL).
The company tarnished by the news that it needs extra capital to support
itself. Also its newly appointed chief executive officer resigned before
even starting her job.
Charles River Labs (CRL) down $4.49. Company sees third quarter
earnings at the low end of its $0.58 to $0.60 per share guidance, maybe
even below that because of delays in clinical studies. That`s what the
company cited.
Lafarge ADR (LR), the American depositary share, this is one of the
world`s largest cement makers and it reported first half profits were down
18 percent. The company blamed a construction slump in Germany and some
other European countries.
Google (GOOG) topped the active list on NASDAQ, up $.52.
Microsoft (MSFT) $0.24 loss.
Intel (INTC) up $0.43. The company in its mid-quarter forecast
narrowed third quarter revenue estimates from about $10.2 billion at best
to $10 at best.
Sears Holding (SHLD) down $7.04. Second quarter earnings $1.33, $0.03
below the Street estimate. Sales declined a bit too.
Apple Computer (AAPL) moving up $1.10. That was fifth in dollar
volume.
Ebay (EBAY) off $1.53. "Wall Street Journal" today said the company`s
in talk to acquire Swedish Internet telephony company. It`s called Sky (ph)
Technologies and the price is going to be $2 to $3 billion, according to
that speculation.
Dell (DELL) $0.55 loss.
$0.03 drop in Cisco Systems (CSCO).
Amgen (AMGN) up $0.63.
Qualcomm (QCOM) down $1.14.
And finally Rambus (RMBS) up $2.03. Takeover speculation there, Samsung Electronics mentioned as a
possible suitor.
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.
09/08/05:
Market Stats
NET PERCENT
CLOSE CHANGE CHANGE
DOW CLOSE 10595.93 -37.57 - .4
HIGH 10636.49
LOW 10569.34
NASDAQ COMP. 2166.03 -6.00 -.3
HIGH 2173.85
LOW 2161.29
VOLUME 1,444.3
PREVIOUS 1,499.9
UP VOLUME 500.4
DOWN VOLUME 922.2
DOW TRANSPORTS 3651.30 -36.00 - 1.0
DOW UTILITIES 415.93 -4.05 - 1.0
CLOSING TICK +370
S&P 500 1231.67 -4.69 - .4
S&P 100 570.33 -1.82 - .3
MIDCAP 400 714.81 -3.54 - .5
REUTERS/CRB 324.71 +.52 + .2
NYSE COMPOSITE 7594.64 -30.60 - .4
VALUE LINE 413.95 -1.86 - .5
RUSSELL 2000 673.47 -3.85 - .6
DJW 5000 12326.97 -48.04 - .4
U.S. TREASURIES
5-YEAR NOTE 4.125%
Aug. 15,2010 99 21/32 -3/32 + 3.95
10-YEAR NOTE 4.25%
Aug. 15,2015 100 27/32 -2/32 + 4.15
30-YEAR NOTE 5.375%
Feb. 15, 2031 114 9/32 -6/32 + 4.43
LEHMAN BROS.
LONG BOND INDEX 1813.38 -.83
DOW CLOSE 10595.93 -37.57 - .4
ADVANCES 1242
DECLINES 2033
NEW HIGHS 152
NEW LOWS 19
NET PERCENT
NYSE MOST ACTIVES 4PM CLOSE CHANGE CHANGE
CPN Calpine 3.10 +.16 +5.4
PFE Pfizer 26.51 +.21 +.8
EMC EMC 12.74 -.44 -3.3
TWX Time Warner 18.16 -.06 -.3
HPQ Hewlett-Packard 27.85 +.39 +1.4
GE GE 33.85 -.16 -.5
CCE Coca-Cola Enterp 19.99 -2.11 -9.6
LU Lucent Tech 3.13 -.05 -1.6
TSM Taiwan Semi 8.23 +.14 +1.7
MOT Motorola 22.66 +.30 +1.3
NASDAQ CLOSE 2166.03 - 6.00 - .3
VOLUME 1,633.5
PREVIOUS 1,538.6
ADVANCES 1207
DECLINES 1784
NASDAQ ACTIVES
GOOG Google 295.39 +.52 +.2
MSFT Microsoft 26.61 -.24 -.9
INTC Intel 26.09 +.43 +1.7
SHLD Sears Holding 127.81 -7.04 -5.2
AAPL Apple Computer 49.78 +1.10 +2.3
EBAY eBay 38.93 -1.53 -3.8
DELL Dell 34.57 -.55 -1.6
CSCO Cisco Systems 18.37 -.03 -.2
AMGN Amgen 82.29 +.63 +.8
QCOM Qualcomm 41.74 +1.14 +2.8
AMEX CLOSE 1696.08 + 5.28 + .3
INDEX SHARES
DIA DIAMONDS TRUST 105.91 -.29 -.3
QQQ NASDAQ 100 39.40 -.01 -.0
SPY S&P DEP.RECEIPTS 123.50 -.41 -.3
STOCKS IN THE NEWS
NSM Natl Semiconductor 26.05 +1.44 +5.9
ARW Arrow Electronic 31.61 +1.49 +5.0
HOV Hovnanian Enterp 57.49 -4.10 -6.7
BZH Beazer Homes 60.10 -2.19 -3.5
LEN Lennar 60.95 -1.51 -2.4
KBH KB Home 74.69 -1.20 -1.6
BRL Barr Pharm 53.50 +3.08 +6.1
JWL Whitehall Jeweler 1.26 -2.77 -68.7
CRL Charles River Labs 46.10 -4.49 -8.9
LR Lafarge ADS 22.30 -2.02 -8.3
RMBS Rambus 12.33 +2.03 +19.7
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