9/29/05:
Is Chief Justice John Roberts Good Business Judgement?
SUSIE GHARIB: The new Chief Justice of the United States
confirmed by the Senate this morning, and sworn into office
this afternoon. John Roberts will be on the bench when the
court begins its session on Monday. As Stephanie Dhue reports,
the new chief justice will hear cases this term that will
have a significant impact on business.
STEPHANIE DHUE, NIGHTLY BUSINESS REPORT CORRESPONDENT: In
the East Room of the White House, John Roberts was sworn in
as the 17th chief justice of the United States by Justice
John Paul Stevens. Roberts promised to support and defend
the Constitution.
CHIEF JUSTICE JOHN ROBERTS, SUPREME COURT: I will try to
ensure in the discharge of my responsibilities that, with
help of my colleges, I can pass on to my children's generation
a charter of self-government as strong and as vibrant as the
one that Chief Justice Rehnquist passed on to us.
DHUE: During this session, the court will hear two cases
of special significance for business. One case involves Merrill
Lynch (MER). The court will decide whether investors who hold
onto stocks after fraud has been uncovered, can sue their
broker in state court.
GENE SCHAERR, LITIGATION PARTNER, WINSTON & STRAWN: Every
company that issues stock, that is, every company that sells
stock in itself in the financial markets is potentially open
to these kinds of lawsuits in state court.
DHUE: The second case involves a $280 billion tax break given
to DaimlerChrysler (DCX) by the state of Ohio to encourage
it to build a Jeep plant in Toledo. Critics charge the tax
breaks are corporate welfare at the expense of taxpayers.
A lower court found that the tax breaks unconstitutionally
interfere with interstate commerce. Manufacturers worry if
that ruling stands, they'll be at a competitive disadvantage.
DAVID GOSSETT, PARTNER, MAYER, BROWN, ROWE & MAW: When they're
deciding whether or not to build a plant in Mississippi, they're
not just deciding between building a plant in Mississippi
and South Carolina, they're also deciding between Mississippi
and Canada or Mississippi and Korea.
DHUE: The departure of Justice Sandra Day O'Connor will also
reshape the Supreme Court, the president could name her successor
as early as tomorrow. Stephanie Dhue, 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.
09/29/05:
One On One With Mitchell Caplan, CEO of E-Trade Financial
SUSIE GHARIB: E*TRADE made a big trade today. It's buying
online brokerage firm BrownCo from JPMorganChase (JPM) for
$1.6 billion in cash. The deal comes a month after the discount
broker agreed to buy Harrisdirect, that's another online brokerage
firm from Bank of Montreal (BMO). Earlier today I talked to
E*TRADE CEO Mitch Caplan, and asked him how BrownCo fits his
strategy.
MITCHELL CAPLAN, CEO, E-TRADE FINANCIAL: You know, BrownCo
is really a perfect strategic fit for us in that we have built
our model in a way in which we benefit by engaging with retail
customers, and generate revenue not only from their trading
behavior but as importantly from their asset-gathering behavior,
their cash, as they want to accumulate it, as well as borrowing
relationships. And so when you looked at BrownCo, it brought
a very, very sophisticated investing base, 200,000 accounts,
average asset size was $145,000 per account. Equally as important,
it came with $3 billion in cash, $3 billion in margins. So
again there were all these different touch-points that relate
back to how we generate revenue and profitability.
GHARIB: Now, Mr. Caplan, was another part of your thinking
that ever since Ameritrade (AMTD) rejected your takeover offer
this summer that you felt that you had to make an acquisition
in order to stay competitive?
CAPLAN: You know, it's an interesting question, because truthfully
what has been happening in the marketplace, I think as many
people are becoming aware, is that all of the parties have
been dialoguing for years now. And so as you may be aware,
we just recently announced the acquisition also of Harrisdirect.
And with both Harrisdirect and BrownCo, we had been engaging
in discussions over these last two years. So, as we originally
believed, once consolidation was under way, it would continue.
And I think that is what we're seeing. And for us it's just
taking advantage of whatever opportunity is out there to maximize
value for the franchise and for our shareholders.
GHARIB: So then is it possible that you still may do a deal
with Ameritrade?
CAPLAN: I think as we continue to build out our business,
we are literally going to do whatever is best for shareholders
in order to be able to execute on our strategy, and really
continue to grow and build our franchise.
GHARIB: Now the other thing I find that is interesting is
that your two recent purchases, you mentioned Harrisdirect
and of course today it was BrownCo, that you bought these
from big banks. Why did you see value -- or what value do
you see in these operations that the big banks didn't?
CAPLAN: You know, at this point, when you look at our business
models, and it really has transformed so far beyond online
trading to really what you would define as online investing,
it really has become a game of scale. And the players out
there who are really successful with their business models
are the ones that really are trying to generate significant
streams of revenue, as I said, from all these different touch-points.
And the ability to do that requires a significant investment
in capital, in infrastructure and marketing, and I suspect
when you look at some of these banks as they looked at where
they were in terms of size and scale and what was necessary
in terms of making additional capital commitments, they simply
decided that they were better off selling and generating revenue
and profit from that than making the allocation.
GHARIB: As you know, the markets have been in a holding pattern
recently. Does the success of this deal depend on the markets
turning around and people doing more online trading?
CAPLAN: No, in fact, not at all. When you look at our business
model, the success of it really is dependent upon how we engage
and deepen a relationship with a serious investing customer,
so our ability again to generate profits not only from trading
but from all these other touch-points.
GHARIB: I want to talk to you a little bit about your stock,
it was up sharply today, and also since May it has been up
something like 60 percent. So what would you say to investors
who are considering to take their profits now?
CAPLAN: I think it's all about the value over the long term,
and creating a franchise, and I think as you know, stock prices
are generally established as a result of earnings power and
the propensity to grow. And our goal and has been and continues
to be a very strong growth company, both organically and through
acquisition. And so I feel as bullish about our company today
as I did years ago, and as I'm sure I will in the future.
GHARIB: All right. Well, good luck to you, Mr. Kaplan, thank
you so much for coming on our program.
CAPLAN: My pleasure and thanks for having me.
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.
09/29/05:
The Bankruptcy Rush
PAUL KANGAS: Going broke is about to get harder next month.
A new set of bankruptcy laws will go into effect in the United
States, the biggest overhaul of the rules in a quarter of
a century. As Erika Miller reports, there's a rush on to file
for bankruptcy now, before the new rules take effect.
ERIKA MILLER, NIGHTLY BUSINESS REPORT CORRESPONDENT: From
Delta (DAL) to Northwest to the New Orleans subsidiary of
Entergy (ETR), if it seems there's a rush to file for bankruptcy
these days, you're right. And it's not just businesses. The
number of personal bankruptcies soared to an all-time high
in the second quarter and continues full throttle. Personal
bankruptcy filings averaged 11,000 a day last week. That's
up more than 50 percent from the daily average last year.
Many people are rushing to beat the October 16th deadline,
after which new sweeping changes in bankruptcy law go into
effect, making it harder to wipe out debt. Currently, it's
up to the court to decide if a personal bankruptcy case qualifies
for Chapter 7, which wipes out most debt. But under the new
law, there will be a new means test that uses income and expenses
to see if a debtor qualifies.
IRA HERMAN, BANKRUPTCY ATTORNEY, BRYAN CAVE: The paperwork
will be much more extensive, the reporting requirements will
be much more extensive. For the first time debtors filing
Chapter 7 will be required to file their tax returns with
the court.
MILLER: As a result, more people will be steered to the more
restrictive Chapter 13, which requires a repayment plan of
up to five years. Consumer advocates say the change is unfair.
TRAVIS PLUNKETT , LEGISLATIVE DIRECTOR, CONSUMER FEDERATION
OF AMERICA: Our concern with the means test is that it is
very rigid, and that it is actually going to screen out people
who have a legitimate reason for needing Chapter 7; once again,
middle-income families with maybe reasonably good income,
but also high expenses.
MILLER: Another major change is that individual debtors must
get credit counseling. And there are new rules to determine
whether they can keep their homes. The new law also has dramatic
changes for business bankruptcies, making it harder to reorganize.
There will be an 18-month time limit for turnaround plans,
and tougher restrictions on executive pay packages. That could
make it harder to keep key personnel. Some experts say there
could be an even greater surge in bankruptcy filings over
the next few weeks. But after the law takes effect, most agree
the level should drop sharply. 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.
09/29/05:
"The Business of Music,"-Part 4: The Down Low On Download
Distribution
SUSIE GHARIB: All this week, we've looked at the changes
in the music industry, how artists are taking control of their
works and performances and how technologies are changing to
provide new ways of buying and listening to music. Tonight,
as we wrap up our series, "The Business of Music," New York
bureau chief Scott Gurvey looks ahead at how the industry's
business model could work in the future.
SCOTT GURVEY, NIGHTLY BUSINESS REPORT CORRESPONDENT: After
years of denial and resistance, the major recording companies
have only recently begun to experiment with new methods for
distributing their product. The majors took a first step in
licensing their music to Apple's (AAPL) iTunes download service,
selling music by the song in a format that allows a limited
amount of file sharing.
ADAM KLEIN, EXEC. VICE PRESIDENT OF STRATEGY & DEVELOPMENT,
EMI: It's very early days in what the business models are
going to be. But what digital does, which is really exciting,
is it allows you to go and taste and test and explore and
experiment with music that's new to you. The more consumers
do that, this is marketing 101, the more consumers get to
experience and get knowledge about new products, the more
they engage in them.
GURVEY: Over 200 million pieces of music were legally downloaded
in 2004, a tenfold increase from 2003. Advocates of the download
model argue that even illegal file sharing encourages future
purchases.
BRAD DUEA, CEO, NAPSTER: We're finding alternative folks
love country and country folks love jazz. It's just a matter
of now being able to listen without all these purchase hurdles,
and I think the future is very bright for music.
GURVEY: But there is already trouble in download paradise.
The labels are reportedly pushing for a bigger share of iTunes'
profits, perhaps by charging a higher price for new releases.
Apple is said to be resisting. What the majors really want
is a rent rather than purchase arrangement. This is called
the subscription model. Consumers pay a recurring fee, perhaps
$10 a month, for the right to play music from a library of
a million songs. Rights to share or burn would be restricted.
ROB GLASER, CHMN. & CEO, REALNETWORKS: We made subscriptions
work. We proved to them that the subscription model was not
going to cannibalize the industry, it was going to grow the
industry. In fact, in the U.S. last year, all the growth pretty
much was digital growth.
GURVEY: Industry watchers predict the multiple delivery methods
will co-exist.
GERD LEONHARD, CO-AUTHOR, "THE FUTURE OF MUSIC": It's not
either/or. I think the renting model is great for the user
because it's either free or next to nothing and gives great
value. But you're still going to buy after that.
GURVEY: The labels have also licensed their products to satellite
radio systems, where millions of tunes are available on hundreds
of specialized channels.
STEVE BLATTER, VICE PRESIDENT, MUSIC PROGRAMING, SIRIUS SATELLITE
RADIO: There's not a major record label in America today that
doesn't see Sirius Satellite Radio (SIRI) as a new medium
that they need to be building relationships with to expose
both their new and established artists.
GURVEY: The industry is also finding a new revenue source
in video games. Game console sales were nearly $9 billion
last year. And the majors have been tinkering with the aging
compact disc format. What they call the dual disc has a CD
on one side and a DVD on the other. The DVD contains enhanced
sound and extras like notes, photos and a "making of" video.
The performers say the goal is to give consumers added value
at the same price.
ROB THOMAS, MATCHBOX TWENTY: They're saying, hey, you know,
wow, we're tired of paying $200 to go to these shows. We tired
of paying $25 for a CD and getting two good songs on it. You
know, we're tired of all of these things, and we want more.
So a dual disc says, hey, let me give you a reason to buy
this CD.
GURVEY: Still, it is clear in the digital age music will
no longer be confined to a cylinder, platter, cassette or
disc.
ROBIN SPIELBERG, COMPOSER, PIANIST: The Internet levels the
playing field. If anyone is looking for me, they could be
in China, they could be in Korea, they could be anywhere,
they can find me. All they have to do is go to Google (GOOG),
type in my name, my Web site comes up, and we sell the music.
GURVEY: As the major labels struggle to adapt, it has become
obvious that their new business model will have to embrace
multiple means of distribution, and will be a lot more complicated
than the old. If they fail to add value, the big record companies
run the risk of being left behind in a world where anyone
can make music and reach an audience. Of course, a little
talent helps. Scott Gurvey, 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) 2005 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
09/29/05:
"Commentary"-Deciphering Sarbanes-Oxley Section 404
SUSIE GHARIB: Here's a look at what's happening tomorrow.
August's personal income and spending report comes out, as
well as the final September consumer sentiment index from
the University of Michigan. In tonight's commentary, the devil
is in the details when it comes to complying with Sarbanes-Oxley.
Here's Laura Unger, former commissioner of the Securities
and Exchange Commission.
LAURA UNGER, FORMER SEC COMMISSIONER: It seems that small
public companies received a bit of good news last week. They
now have another year to figure out what Sarbanes-Oxley Section
404 compliance means for them. Amazingly, Section 404 has
made it into everyday business lexicon. What it means is that
companies have to figure out their internal control structure,
document it, and say whether it is enough to ensure that investors
get an accurate financial picture of the company. The auditors
then have to say whether management got it right. Sounds simple
enough, but as always the devil is in the details. Part of
the problem comes from the fact that the corporate scandals
have made auditors extremely risk-averse. I know of one company
that documented 500 internal controls while their auditor
counted 20,000. The regulators who could bring some sanity
to the process have been reluctant to appear anything but
tough. Until recently, that meant companies would rather over-comply
than become the poster child for the first Section 404 enforcement
case. All of this has been a huge drain on capital and innovation,
an enormous cost for the biggest public companies and an impossible
burden for small ones. Clearly, the SEC recognizes that Section
404 could push small companies out of the public marketplace.
The SEC has now given small businesses two extensions and
two extra years. Let's hope that's enough time for rational
minds to prevail about what it takes to get Section 404 compliance
right. I'm Laura Unger.
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.
09/29/05:
"Paul Kangas' Stocks In The News"
PAUL KANGAS: Stocks spent the morning in lower ground as
oil prices rose. And that overshadowed a bigger-than-expected
decline of 79,000 in new jobless benefit claims and news of
3.3 percent second-quarter GDP growth. Just before noontime,
the Dow was off 43 points, NASDAQ down 3. As oil prices eased,
tech stocks led a solid afternoon rally, helped along by short
covering purchases. The Dow Industrial Average closed up 79.69
points at 10,552.78. The NASDAQ Composite vaulted 25.82 points
to 2,141.22. While the Standard & Poor's 500 Index gained
10.79 , ending at 1,227.68. Over in the bond market, the 10-year
note fell 11/32 to 99 19/32, boosting the yield to 4.30 percent.
For the second day running, Lucent Technologies (LU) topped
the active list, today trading 18.9 million shares, the stock
down a nickel.
And then Fannie Mae (FNM) rebounding $3.18 from nearly a
$5 loss yesterday, which some analysts was overdone after
Dow Jones reported regulators found new accounting problems.
General Electric (GE) up $0.16. The GE Healthcare unit will
acquire IDX Systems (IDXC), a maker of software for doctors
in hospitals. The takeover price, $44 a share cash. IDX today
was up $8.08, to $43.25.
Pfizer (PFE) up $0.23.
Time Warner (TWX) a $0.28 gain. That was fifth in volume.
Bank of America (BAC) gained a half a dollar.
Texas Instruments (TXN) a $0.34 rise.
Exxon Mobil (XOM) up a dime.
Wal-Mart Stores (WMT) a $0.41 gain there.
And 10th in volume was Citigroup (C), rising $0.46.
PepsiCo (PEP) up $1.44. Third-quarter earnings, $0.78, a
nickel above the Street estimate. The company predicting full-year
earnings will beat the Street estimate by about $0.04 or $0.05.
American Greetings (AM) up $2.57. Second-quarter earnings
of $0.05. The Street was expecting a loss of $0.03. The company
says third quarter will rebound to $0.70 to $0.75 a share.
Of course, the company's business is very seasonal.
Then we see Actuant (ATU) doing well, up $5.04. This company
markets industrial tools, among other things. Fourth-quarter
earnings, $0.65, $0.02 above the Street estimate and well
up from $0.53 a year ago. Sales were up 43 percent. The company
sees first-quarter earnings in the $0.62 to $0.67 per share
range.
Cantel Medical Corporation (CMN), which is involved in infection
prevention and control, had higher earnings. For fourth quarter,
$0.29, up from last year's $0.20. Sales up 15 percent.
Then the big loser of the day, AMERIGROUP (AGP) tumbling
$14.10. It's in the health care benefit business and is predicting
a third-quarter loss of $0.06 to $0.08 a share. C.S. First
Boston downgraded the stock to neutral, cut its price target
to $18 a share, not far from it today.
Forest Labs (FRX) off $3.80. Phase III trials of the company's
milnacipran painkiller did not achieve statistical significance.
Morgan Stanley downgraded the stock, overweight to equal weight.
And the company's partner in this venture, Cypress Bioscience
(CYPB), saw its stock tumble 56 percent, $5.53 on the close,
down $7.17 a share.
A new issue, Global Partners (GLP), in the wholesale distribution
of oil and gas, 4.9 million shares offered at 22, opened at
25. The high of the day, $25.30. Not a bad debut.
Research In Motion (RIMM) topped the active list on NASDAQ,
tumbling $7.25. Second-quarter earnings sharply higher, $0.56
versus $0.36 a year ago, revenues up 58 percent. But the company
signed up 620,000 new subscribers in the second quarter, that
was 30,000 below Street expectations. Deutsche Bank Securities
downgraded this stock from hold to sell.
Google (GOOG) up $3.62.
Microsoft (MSFT) a $0.27 gain.
Intel (INTC) up $0.53.
Apple Computer (AAPL) rose $1.26. Fifth in dollar volume.
EBay (EBAY) up $2.37. C.S. First Boston said its quarterly
earnings will be better than the Street is expecting.
Cisco (CSCO) a $0.06 drop.
Red Hat (RHAT), look at that gain, up $4.93. Second-quarter
earnings, $0.09 versus only $0.06 a year ago. Revenues up
42 percent. Two brokerages, UBS and SunTrust Robinson Humphrey,
both issued buy recommendations.
Qualcomm (QCOM) a $0.48 gain.
And Yahoo! (YHOO), 10th in volume, was up $1.11.
Another new issue today, WebMD Health Corporation (WBMD),
6.9 million shares offered at $17.50, opened at $19.80. The
high of the day way up at 30, backed off but still nicely
higher from the offering price on the day.
And those are the "Stocks in the News" tonight.
Nightly
Business Report transcripts are available on-line post broadcast.
The program is transcribed by eMediaMillWorks. Updates may
be posted at a later date. The views of our guests and commentators
are their own and do not necessarily represent the views of
Community Television Foundation of South Florida, Inc. Nightly
Business Report, or WPBT. Information presented on Nightly
Business Report is not and should not be considered as investment
advice. Copyright (c) 2005 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
09/29/05:
Market Stats
NET PERCENT
CLOSE CHANGE CHANGE
DOW CLOSE 10552.78 +79.69 + .8
HIGH 10563.37
LOW 10418.01
NASDAQ COMP. 2141.22 +25.82 +1.2
HIGH 2141.43
LOW 2107.70
VOLUME 1,632.8
PREVIOUS 1,580.9
UP VOLUME 1,212.5
DOWN VOLUME 405.7
DOW TRANSPORTS 3718.42 +62.19 + 1.7
DOW UTILITIES 432.98 +3.94 + .9
CLOSING TICK +737
S&P 500 1227.68 +10.79 + .9
S&P 100 566.79 +4.15 + .7
MIDCAP 400 711.44 +8.73 + 1.2
REUTERS/CRB 334.85 +1.52 + .5
NYSE COMPOSITE 7632.50 +57.40 + .8
VALUE LINE 407.84 +4.33 + 1.1
RUSSELL 2000 665.03 +8.99 + 1.4
DJW 5000 12259.53 +112.69 + .9
U.S. TREASURIES
5-YEAR NOTE 3.875%
Sept. 15,2010 98 25/32 +1/32 + 4.15
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 1788.77 -4.77
DOW CLOSE 10552.78 +79.69 + .8
ADVANCES 2304
DECLINES 990
NEW HIGHS 197
NEW LOWS 92
NET PERCENT
NYSE MOST ACTIVES 4PM CLOSE CHANGE CHANGE
LU Lucent Tech 3.22 -.05 -1.5
FNM Fannie Mae 44.89 +3.18 +7.6
GE GE 33.65 +.16 +.5
PFE Pfizer 25.09 +.23 +.9
TWX Time Warner 18.15 +.28 +1.6
BAC Bank Of America 42.10 +.50 +1.2
TXN Texas Instrument 33.18 +.34 +1.0
XOM Exxon Mobil 64.80 +.10 +.2
WMT Wal-Mart Stores 43.54 +.41 +1.0
C Citigroup 45.64 +.46 +1.0
NASDAQ CLOSE 2141.22 + 25.82 + 1.2
VOLUME 1,846.3
PREVIOUS 1,757.8
ADVANCES 1929
DECLINES 1104
NASDAQ ACTIVES
RIMM Rsch In Motion 70.00 -7.25 -9.4
GOOG Google 309.62 +3.62 +1.2
MSFT Microsoft 25.94 +.27 +1.1
INTC Intel 24.48 +.53 +2.2
AAPL Apple Computer 52.34 +1.26 +2.5
EBAY eBay 41.30 +2.37 +6.1
CSCO Cisco Systems 17.86 -.06 -.3
RHAT Red Hat 21.44 +4.93 +29.9
QCOM Qualcomm 44.99 +.48 +1.1
YHOO Yahoo! 33.46 +1.11 +3.4
AMEX CLOSE 1731.37 + 5.90 + .3
INDEX SHARES
DIA DIAMONDS TRUST 105.40 +.70 +.7
QQQ NASDAQ 100 39.20 +.52 +1.3
SPY S&P DEP.RECEIPTS 122.66 +.99 +.8
STOCKS IN THE NEWS
PEP PepsiCo 56.50 +1.44 +2.6
AM American Greetings 27.54 +2.57 +10.3
ATU Actuant 45.99 +5.04 +12.3
CMN Cantel Medical 22.10 +2.34 +11.8
AGP Amerigroup 19.81 -14.10 -41.6
FRX Forest Labs 38.50 -3.80 -9.0
GLP Global Partners 23.70 +1.70 +7.7
WBMD WebMD Health 24.40 +6.90 +39.4
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