9/28/05:
What Will House Majority Leader Tom DeLay's Departure Do To Business?
SUSIE GHARIB: Tom DeLay, one of the most powerful Republicans in Washington, was indicted on
conspiracy charges today, and forced to step down as house majority leader.
DeLay says he has done nothing wrong. This is the first time in over a century
that a house majority leader has been indicted while in office. Darren Gersh reports.
DARREN GERSH, NIGHTLY BUSINESS REPORT CORRESPONDENT: Tom DeLay says he is
innocent of charges he conspired to improperly funnel corporate campaign
contributions to state races in violation of Texas law.
REP. TOM DELAY (R), TEXAS: This act is the product of a coordinated,
premeditated campaign of political retribution.
GERSH: As the man who enforced party discipline, keeping the narrow Republican
House majority in line, DeLay earned the nickname "The Hammer." His departure
from the leadership could tempt restive Republican moderates and conservatives
to assert themselves, complicating the president's legislative strategy. But
DeLay's temporary replacement says he will continue to push an agenda of
entitlement reform, tax cuts and hurricane relief.
REP. ROY BLUNT (R-MO), MAJORITY LEADER: What we do here is more important than
who we are. We have an agenda to move forward. We are going to have a great
team effort to make that happen.
DELAY: Thank you.
GERSH: With DeLay on the sidelines, the oil industry has lost one of its most
effective advocates.
STUART SWEET, PRESIDENT, CAPITOL ANALYSTS NETWORK: Tom DeLay, it's no secret,
has been a friend to the oil industry and the refining industry, and he has been
their champion. So for them, perhaps, another hurricane hit today.
GERSH: DeLay's power extended from Capitol Hill to corporate America. He
launched the so-called "K Street Project," forcing the lobbying firms and trade
associations located along Washington's prime real estate to hire Republicans
for key positions. Along the way, DeLay rewrote the rules of corporate giving,
pushing executives and companies to abandon their bipartisan ways, writing
checks only to Republicans.
THOMAS MANN, CONGRESSIONAL ANALYST, BROOKINGS INSTITUTION: Tom DeLay built a
political machine in Washington similar to political machines that mayors and
local party officials built in cities in the late 19th, early 20th Century.
GERSH: Political analysts believe Tom DeLay's legal troubles could further tilt
the playing field against Republicans in the midterm elections. And some are
beginning to argue Republicans could be facing a tidal wave of voter discontent
similar to the one that swept Democrats from power in 1994. 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.
09/28/05: Energy Concerns Fuel A Rally Among Traders
PAUL KANGAS: Energy prices gushed up again today, sparked by new concerns about fuel
supplies. Natural gas futures hit a new record high, with heating oil and crude
hot on their heels.
As Erika Miller reports, traders continue to fret about the damage to oil
facilities caused by hurricanes Katrina and Rita.
ERIKA MILLER, NIGHTLY BUSINESS REPORT CORRESPONDENT: A fierce rally in the
energy markets today, on new worries about damage to Gulf Coast oil facilities.
The Energy Information Administration warns that as much as 15 percent of
national refining capacity could be shut down for at least another couple of
weeks.
RAYMOND CARBONE, OIL TRADER, PARAMOUNT OPTIONS: What we're seeing now is the
realization that a lot of damage was caused by Hurricane Rita. It had not been
assessed before. It is still not completely assessed.
MILLER: The rally came despite government data showing petroleum inventories at
above average levels for this time of year. But traders say they were skeptical
of that data.
CARBONE: The data cannot really be reliable until all the damage has been
assessed, and frankly they're still assessing the damage from Katrina.
MILLER: Light sweet crude surged 2 percent, heating oil soared 3.5 percent.
But the biggest mover was natural gas, which skyrocketed 10 percent to a new
all-time high.
BRUNO STAZIALE, DIRECTOR OF COMMODITIES, ABN AMRO: The natural gas episode is
purely a factor of force majeure that the pipelines have enforced, which
basically says that because of environmental conditions out of their control,
they are not obligated by contract to make deliveries.
MILLER: Traders say the direction of energy prices will depend on how quickly
Gulf Coast refineries get back up and running. To a lesser extent traders are
also concerned about a workers strike in France that has crippled the country's
biggest refinery and threatens to spread to other plants. Plus, hurricane
season isn't over until the end of November, so there's still the potential for
another catastrophic storm. All help explain why analysts see higher crude prices ahead.
STAZIALE: I think if those things materialize, we could see the market easily
trade up to the $72 high that we witnessed about a month ago.
MILLER: So what would it take to get energy prices significantly lower?
Analysts say it could be a major economic downturn in demand, or perhaps a quick
turnaround in repairs to Gulf Coast oil facilities. Erika Miller, NIGHTLY BUSINESS REPORT, at the New York Mercantile Exchange.
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.
09/28/05: One on One With Stuart Hoffman, Chief Economist, PNC Financial Services
SUSIE GHARIB: Officials on the Bush economic team said today that the recent Gulf
Coast hurricanes will reduce growth in the third quarter, but there's little
chance the U.S. economy will slip into a recession. Joining us now with more
analysis on those White House comments and today's economic news, Stuart
Hoffman, chief economist of PNC Financial Services Group. He's also the newly
elected president of the National Association of Business Economics.
Hi, Stuart.
STUART HOFFMAN, CHIEF ECONOMIST, PNC FINANCIAL SERVICES: How are dewing, Susie?
GHARIB: Good, thank you. Let's begin with your thoughts on the White House
growth forecast and also that comment about recession. What do you think?
HOFFMAN: Yes. The growth -- we all knew that the growth was going to be hurt
in the first quarter. This is the first time we have heard an official from the
Bush administration, in this case the CEA chair, Ben Bernanke, trying to put a
size at that at about a 1 percent reduction in real GDP growth in the quarter
that's coming to an end in two days. So that could easily take the growth down
to 3 percent or a bit under. But yes, I don't think the hurricane or the run-up
in oil prices nor does the National Association of Business Economists survey
think that this will bring the recession to an end -- or bring the expansion to
an end or bring on recession.
GHARIB: Let's talk a little bit about the recession aspect of it, because Fed
officials this week have been putting out this message that they are not done
raising interest rates, and history shows that when oil prices spike, and that
interest rates continue to rise, that that leads to a recession. So why are you
confident that we are not at risk here?
HOFFMAN: Well, first off, the economy's dependence on energy is a lot less than
it was back in the '70s and the '80s when the double barrel of higher interest
rates and higher energy prices did cause a recession. Also, longer-term
interest rates, mortgage rates and Treasury rates, really haven't gone up much
at all, indeed, they are lower than they were a year ago. Also, the Fed has
started from -- raising rates from a very, very low level. I think the Fed will
be focused more on keeping inflation under control and, frankly, getting through
what could be an inflation threat or scare over the next three or six months and
calming that down. I actually think that is beneficial to the economy to grow
in 2006, particularly when all the reconstruction activity that could total
easily over $100 billion get under way.
GHARIB: All right. But we were seeing weakness in the economy. Given that
today on the one hand we have got these strong durable goods numbers but on the
other hand we have been seeing weak data, whether we're talking about home
sales, consumer confidence is down, also we're finding retail sales are also --
been weakening. So what is your forecast on the economic growth?
HOFFMAN: Well, there's no question September will be a very weak month. We saw
consumer confidence drop. I would think when the data come out in the next few
weeks we will see that jobs fell in September and probably retail sales. So I
think economic growth this quarter, in a couple -- ending in a couple of days,
for real GDP will be 2.5 to 3 percent. I still think we can get close to 3
percent in the final quarter of this year. And as we start the rebuilding
process, and assuming that inflation comes down, energy prices, particularly
natural gas are going to be hard on consumers during the winter. But I think
next year we can see economic growth at 3 percent. But I would add that this is
below trend. This isn't the same rapid pace of the last two years.
GHARIB: Real quickly, we have got some important numbers coming up, personal
income numbers later this week, employment report, as you just mentioned, next
week. So what are the trends you see there?
HOFFMAN: I think we are going to see very weak numbers, probably payroll jobs
could drop $200,000 to $300,000, the biggest one-month drop, reflecting the
affect of the hurricanes, consumer income therefore is likely to be down. And a
couple of weeks later, when we get the inflation data, the consumer price index,
we may see a 1 percent increase for the month of September, the biggest
one-month increase in years.
GHARIB: All right. We are going to have to leave it there. Thanks so much,
Stuart.
HOFFMAN: Thank you.
GHARIB: We've been speaking with Stuart Hoffman, chief economist of PNC
Financial Services Group.
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.
09/28/05: "The Business of Music,"-Part 3: High Tech Changes
SUSIE GHARIB: Listening to music was a pretty simple thing just a few years ago. You put a
record or a cassette or an eight-track tape into a machine and turned it on.
Now, those formats are going the way of the dinosaur, with new technology
replacing them at a rapid clip.
Tonight as we continue our series, "The Business of Music," New York bureau
chief Scott Gurvey looks at how that technology is changing the industry.
SCOTT GURVEY, NIGHTLY BUSINESS REPORT CORRESPONDENT: The compact disc accounts
for 90 percent of all music sold. Still there are those who say its days are
numbered. But the medium is not the message, and in fact the musical message is
flourishing because of the development of new technologies.
DAVID KUSEK, CO-AUTHOR, "THE FUTURE OF MUSIC": The Internet has impacted record
sales over the last four or five years dramatically, and we expect it to
continue to impact negatively record sales. But at the same time, it's creating
new opportunities for people to distribute music digitally and to distribute it
in different forms that we think is going to be very good for the market and
will eventually make the market increase perhaps three or four times from its
current size.
GURVEY: Apple Computer led the way to digital distribution in 2003, with
iTunes, an Internet store which sells single songs for 99 cents. ITunes sold
half a billion songs in its first two years. The song files are downloaded to a
computer and can be burned onto a limited number of compact discs. They can
also be installed on Apple's popular iPod portable player and on a host of
competing products. ITunes has several imitators, including one which bought
the rights to use the Napster name.
BRAD DUEA, CEO, NAPSTER: It took us five years, but what it is really is really
the old Napster, only now it's legal and all the artists get compensated and we
have rights with all the major labels and publishing societies, so everybody
gets compensated and the consumer gets an amazing model: For the price of a CD
they now get basically the world's collection of music.
GURVEY: It was a major change in policy for the record companies to make
content available for download. For years they were unwilling to acknowledge
that many consumers want to buy singles, not complete albums.
JOHN KILCULLEN, PUBLISHER, BILLBOARD MAGAZINE: I may deem that all 10 or 12
tracks are not as pleasurable to experience. I only want three. So I'm
building my own compilations, I'm swapping my own files. There's a cool factor,
there's an actual -- a cost factor.
GURVEY: Digital music is also finding a home on wireless telephones. Tunes
first appeared as ring tones. Now new products combine the cell phone with the
portable music player. Pop music acts are already selling discs of their
performance to concert-goers on their way out, and some impresarios predict the
audience will soon buy digital files of pop, jazz and even classical concerts as
well.
ZARIN MEHTA, PRESIDENT & EXECUTIVE DIRECTOR, THE NEW YORK PHILHARMONIC: Can we
get people to maybe download the tape of what they've heard at the concert by
swiping their credit card at the back of the seat and have it in their iPod or
in their laptop at home already, and they've paid for it and they've got an
example of what they've just heard? I think that will come, yes, for classical
music. It's not just for the five-minute segment from a pop concert. You'll
have a Bruckner Symphony that way, I'm absolutely convinced of it.
GURVEY: New technology is also shaking up the world of radio. Am and fm
stations, with their highly limited playlists, are now challenged by two
satellite radio systems: XM (XMSR) and Sirius (SIRI). Listeners pay a monthly
fee for access to hundreds of channels. You might call it narrow-casting as
many channels feature music rarely heard on traditional radio.
MORROW: I'm not just going to play top 10 songs or the top 20 songs, I have
thousands and thousands of records. So if they're…
GURVEY: When WCBS-FM dumped its classic oldies format, famed DJ "Cousin Brucie"
found a home at Sirius.
MORROW: There has to be change. There's nothing wrong with change. I don't
want anyone to think I'm an old fuddy-duddy. Absolute change, change and
modification, but change intelligently. Serve all genre, serve all
demographics, and that's what we can do here on Sirius Satellite. I mean, there
are so many channels, there are so many stations that there's something for
everybody. And Cousin Brucie, well, they said to me, Bruce, fly. I'm free. I
am free.
GURVEY: Broadband Internet is proving to be another direct outlet for music.
Major portals like AOL are sporting music sites with unique content and
sponsoring live concerts by major artists.
JACK ISQUITH, EXECUTIVE DIRECTOR/MUSIC INDUSTRY RELATIONS, AOL: Whether it's
music videos or live concerts or artists in the studio or concert tour dates or
the ability to buy those tickets or buy merchandise, all of that can be accessed
by coming to aolmusic.com.
GURVEY: With all the new means of distribution, what will be the new business
model for the music industry? We'll look at that, tomorrow. Scott Gurvey, 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.
09/28/05: "Money File"-Now May Be The Time To Get Bullish On The Bears
SUSIE GHARIB: In "The Money File" tonight, getting bullish on bearish investments. Here's
John Waggoner, mutual funds columnist for USA Today.
JOHN WAGGONER, MUTUAL FUND COLUMNIST, USA TODAY: Several million years from
now, the Sun will burn out, leaving the Earth as a cold and lifeless husk. If
that's your first thought when you see the sun rise, then bear funds are for you.
Bear funds let you bet on stock market declines. They use futures, options and
other sophisticated techniques to ensure that their funds will rise when stock
market falls. You can even buy super bear funds. These funds, such as
ProFund's UltraBear, will rise 2 percent if the stock market falls 1 percent.
And if you want to expand your bearish horizons, you can now buy funds that will
rise when bond prices or when the value of the U.S. dollar falls.
Given how rotten the stock market has been, a bear bet is tempting. The S&P 500
is down 8 percent the past five years, the NASDAQ Composite is down 42 percent.
High gas prices and rising short-term interest rates only make the bear case
stronger.
Before you buy a bear fund, though, remember that timing a bear market is as
difficult as timing a bull market. If prosperity rears its ugly head, your bear
fund will look like a real dog.
Also, the market tends to rise more than it falls, so the odds are against a
bear bet. Bear funds do have some use to hedge positions you have, for example,
if you're worried about a downturn but don't want to sell your fund.
But if you're just worried about a bear market, your best bet would be to load
up on money market mutual funds or bank CDs. If you're wrong, you'll earn
interest instead of feeding the bears even more of your money.
I'm John Waggoner.
Click here to
see the Ten Top Performing Bear Funds of the Past 5 Years.
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.
09/28/05: "Last Word"-The U.S. Mint's New Perfect 10
SUSIE GHARIB: And finally, it's a greenback, all right, but it's not just
green. The U.S. Treasury unveiled the new $10 bill today, featuring splashes of
orange, yellow and red to go with the usual green. The redesign is similar to
changes made to the $20 and $50 bills, but the colors are different in order to
make the denominations more easily identifiable. The 10-spot has a whole slew
of new security features, including a plastic thread woven into the paper and a
new watermark.
But, Paul, don't expect these to pop out of your ATM anytime soon. The new 10s
apparently don't go into circulation until early next year.
KANGAS: You know, despite all of these changes, Susie, counterfeiting is on the
rise as the counterfeiters take advantage of the public's unawareness of these
new bills. So time to take a close look.
GHARIB: Very interesting.
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.
09/28/05:
"Paul Kangas' Stocks In The News"
PAUL KANGAS: Wall Street headed higher this morning with investors encouraged by
news that August durable goods orders jumped a better-than-expected 3.2 percent.
Steady oil prices also helped the Dow post a 52-point gain at mid-morning, with
the NASDAQ up 10 points. That rally in oil prices sent stocks into the red in
mid-afternoon, but some late day, end-of-quarter institutional buying helped the
markets end mixed. The Dow Industrial Average gained 16.88, ending at
10,473.09. The NASDAQ Composite fell a point to 2,115.40. Standard & Poor's
500 gained 1.23 to 1,216.89. In the bond market, the 10-year note rose 7/32 to
99 30/32, putting the yield at 4.26 percent.
The most active New York Exchange issue on 42.8 million shares, Lucent
Technologies (LU) moving up 17 points.
Followed by Corning (GLW) with a $0.39 loss.
Pfizer (PFE) edged $0.06 higher.
Wal-Mart Stores (WMT) a $0.03 gain.
Exxon Mobil (XOM) rose $0.08. That was fifth in Big Board volume.
Time Warner (TWX) edged up $0.09.
EMC (EMC) a $0.28 gain.
General Electric (GE) down $0.15.
Nortel (NT) a $0.04 gain.
Then the big loser, Fannie Mae (FNM) tumbling $4.99. Dow Jones reported federal
regulators found new violations in its accounting. Fannie Mae would neither
confirm nor deny that there were additional accounting problems.
DaimlerChrysler (DCX) up $2, positive reaction to the company's plan to layoff
8,500 workers at its Mercedes division in Germany because of eroding profits.
Eastman Kodak (EK) was down just $0.12. The company sees better-than-expected
revenue growth in 2005, but expects operating earnings from its digital business
to fall short of what it calls its ambitious guidance.
Fair Isaac (FIC), the software and data management firm, was upgraded by
JPMorgan from neutral to overweight because of the good earnings prospects
according to JPMorgan.
And Genentech (DNA) up $3.49. The company downplayed the government's ruling
that its manufacturing process for antibodies duplicates another patent. The
company said it was a routine and expected step in the Patent Office's
re-examination of that patent. The company thinks it could take years to
resolve the whole thing.
Mylan Labs (MYL) moved up a $1.10. A U.S. court has ruled the company's generic
version of Johnson & Johnson's (JNJ) Ditropan incontinence drug does not
infringe on Johnson & Johnson patents.
First Marblehead Corp. (FMD) down $4.63. CEO and Chairman Daniel Meyers
resigned after he told the board of directors he exchanged gifts with a former
employee of a major client.
And then we see McCormick (MKC), the spice company, up $1. Higher earnings
third quarter, $0.35, up from $0.33 a year ago, a penny above the Street
estimate, but sales were up only 1.5 percent.
The big percentage loser, Hartmarx (HMX) down $1.40. The company had higher
third-quarter earnings of $0.18, up from $0.14 last year. But sales dropped 2.3
percent. And the company cut its 2005 earnings growth estimate from plus 40 to
45 percent down to 30 to 40 percent.
And finally the granddaddy of the golds, Newmont (NEM), up $1.21. New York
December gold, $473.10 an ounce, up $6.90 from yesterday.
Google (GOOG) topped the NASDAQ most active, losing almost $8.
Apple Computer (AAPL) down $2.36. The company acknowledged there is a flaw in
the screens of a small percentage of its newest iPods, the Nanos. And they will
replace those screens free of charge. Merrill Lynch downgraded the stock,
nevertheless, from buy to neutral.
Microsoft (MSFT) a $0.33 gain.
Intel (INTC) a $0.12 rise.
Cisco (CSCO) gained $0.20. That was fifth in dollar volume.
Amgen (AMGN) a $0.15 loss.
Qualcomm (QCOM) was up $0.16.
Oracle (ORCL) dropped $0.14 a share.
Research In Motion (RIMM) down $0.18.
And Celgene (CELG) lost $1.26. The company halted mid-stage trials of its
Revlimid cancer drug due to concerns about blood clots.
And baidu.com (BIDU) down $6.79. Four music companies are suing Baidu over
copyright infringement.
And finally Incyte Corp. (INCY) tumbling $2.97. The FDA asked the company for
another mid-stage trial of its HIV drug called Reverset.
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.
09/28/05:
Market Stats
NET PERCENT
CLOSE CHANGE CHANGE
DOW CLOSE 10473.09 +16.88 + .2
HIGH 10512.10
LOW 10423.98
NASDAQ COMP. 2115.40 -1.02 -.1
HIGH 2127.49
LOW 2109.75
VOLUME 1,580.9
PREVIOUS 1,499.2
UP VOLUME 873.0
DOWN VOLUME 694.6
DOW TRANSPORTS 3656.23 +38.74 + 1.1
DOW UTILITIES 429.04 +4.39 + 1.0
CLOSING TICK +522
S&P 500 1216.89 +1.23 + .1
S&P 100 562.64 +1.03 + .2
MIDCAP 400 702.71 -1.26 - .2
REUTERS/CRB 333.33 +6.30 + 1.9
NYSE COMPOSITE 7575.10 +26.45 + .4
VALUE LINE 403.51 -.66 - .2
RUSSELL 2000 656.04 -3.13 - .5
DJW 5000 12146.84 +3.96 + .0
U.S. TREASURIES
5-YEAR NOTE 3.875%
Sept. 15,2010 98 31/32 +1/32 + 4.11
10-YEAR NOTE 4.25%
Aug. 15,2015 99 30/32 +7/32 + 4.26
30-YEAR NOTE 5.375%
Feb. 15, 2031 113 4/32 +22/32 + 4.50
LEHMAN BROS.
LONG BOND INDEX 1793.54 +9.21
DOW CLOSE 10473.09 +16.88 + .2
ADVANCES 1710
DECLINES 1617
NEW HIGHS 159
NEW LOWS 111
NET PERCENT
NYSE MOST ACTIVES 4PM CLOSE CHANGE CHANGE
LU Lucent Tech 3.27 +.17 +5.5
GLW Corning 18.13 -.39 -2.1
PFE Pfizer 24.86 +.06 +.2
WMT Wal-Mart Stores 43.13 +.03 +.1
XOM Exxon Mobil 64.70 +.08 +.1
TWX Time Warner 17.87 +.09 +.5
EMC EMC Corp 12.66 +.28 +2.3
GE GE 33.49 -.15 -.5
NT Nortel Networks 3.25 +.04 +1.3
FNM Fannie Mae 41.71 -4.99 -10.7
NASDAQ CLOSE 2115.40 - 1.02 - .1
VOLUME 1,757.8
PREVIOUS 1,665.1
ADVANCES 1246
DECLINES 1732
NASDAQ ACTIVES
GOOG Google 306.00 -7.94 -2.5
AAPL Apple Computer 51.08 -2.36 -4.4
MSFT Microsoft 25.67 +.33 +1.3
INTC Intel 23.95 +.12 +.5
CSCO Cisco Systems 17.92 +.20 +1.1
AMGN Amgen 79.82 -.15 -.2
QCOM Qualcomm 44.51 +.16 +.4
ORCL Oracle 12.19 -.14 -1.1
RIMM Rsch In Motion 77.25 -.18 -.2
CELG Celgene 52.85 -1.26 -2.3
AMEX CLOSE 1725.47 + 12.84 + .8
INDEX SHARES
DIA DIAMONDS TRUST 104.70 +.17 +.2
QQQ NASDAQ 100 38.68 +.01 +.0
SPY S&P DEP.RECEIPTS 121.67 +.12 +.1
STOCKS IN THE NEWS
DCX DaimlerChrysler 54.83 +2.00 +3.8
EK Eastman Kodak 24.89 -.12 -.5
FIC Fair Isaac 44.03 +2.34 +5.6
DNA Genentech 83.35 +3.49 +4.4
MYL Mylan Labs 18.84 +1.16 +6.6
FMD First Marblehead 22.17 -4.63 -17.3
MKC McCormick & Co 32.00 +1.00 +3.2
HMX Hartmarx 6.79 -1.40 -17.1
NEM Newmont Mining 47.54 +1.21 +2.6
BIDU Baidu.com 65.71 -6.79 -9.4
INCY Incyte 4.27 -2.97 -41.0
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