10/07/05:
The Employment Picture Takes A Hit But Survives The Hurricanes
JEFF YASTINE: A better-than-expected employment report for
September contained some better than expected news about the
economy, especially in the wake of the hurricanes. While the
U.S. lost just 35,000 jobs in September, the job numbers for
July and August were revised upward. As Scott Gurvey reports,
experts say that shows a labor market strong enough to withstand
disruptions caused by the storms.
SCOTT GURVEY, NIGHTLY BUSINESS REPORT CORRESPONDENT: The most
important headline in today`s report on employment in September is what it
says about employment in the two previous months. The Labor Department
added 35,000 to the payroll employment number for July and 42,000 to
August, indicating a much stronger economy before the hurricanes hit. The
number for September does show a 35,000 job decline, the first decline
since 2003. But some forecasters were looking for a drop of as much as
150,000. The separate survey of households found the unemployment rate to
be 5.1 percent, up 0.2 percent from August. The Labor Department admits
this report does not fully reflect the impact of the hurricanes. The
reference period for both surveys occurred before hurricane Rita struck and
difficulty in collecting data in the disaster areas meant lower then usual
response rates. Most economists noted a negative impact but focused on
indications of strength rather than weakness.
BRUCE KASMAN, CHIEF US ECONOMIST, JPMORGAN: You can see very sharp
drops in the retail sector, in the hotel and restaurant industries and in
important parts of the transportation sectors of the U.S. economy. So
there were a lot of people who couldn`t work over the month of September
because of the hurricanes. Those loses are likely to be temporary and when
we look at the broader picture of job creation in the economy, net of that,
it still looked like it was running at a very solid trend.
GURVEY: Bond traders had little reaction to the report, although most
Fed watchers think the data almost guarantees the central bank will
continue its policy of raising interest rates well into next year.
LAURENCE KANTOR, CHIEF ECONOMIST, BARCLAY`S CAPITAL: I think if
anything the Fed is going to try and look through the storm effects. And
if you look at all the labor market data we get, they actually look pretty
strong, especially when you extract the effects of the storms. So whether
it`s jobless claims when you take out hurricane effects there, they look
like they`ve fallen. It looks like payroll employment, the pace of it has
actually stepped up. The Fed`s going to keep hiking rates.
GURVEY: The Fed has raised interest rates at each of its last 11 meetings.
It meets next on November 1. 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.
10/07/05:
Treasury Secretary John Snow Reacts To The Employment Report
JEFF YASTINE: Treasury Secretary John Snow says the numbers
show the fundamentals of our economy remain quote, exceptionally
strong, end quote. Washington bureau chief Darren Gersh sat
down with Snow today and began by asking if the report gives
us an idea of the full economic impact of hurricane Katrina.
JOHN SNOW, TREASURY SECRETARY: Oh, I think so. We`re continuing to
refine our assessments of it. It looks like most of the negative economic
news is in the region. And if it hadn`t been for Katrina, we would have
had very strong job numbers nationwide. I was never happy to see
unemployment, of course, go up, but it`s a tribute to the strength of the
underlying economy that these numbers came in so far under the estimates.
YASTINE: Well, be a little more specific. What strength are you
seeing even in this weak report? What fundamental underlying strength does
it show?
SNOW: Well, the overall GDP growth, I think, is continuing to be well
above trend line. And if we lost 300,000 jobs or so in the region and we
only have unemployment down by 35,000 jobs, that suggests that lots of jobs
are being created outside the region. So I`d point to that.
YASTINE: Now, the Fed is concerned about inflation. Given what`s
going on in this report, are you worried about inflation?
SNOW: Well, I think we`re going to continue to have an overall non-
inflationary environment, or low inflation environment. That is, it looks
to me as if inflation is pretty well in check. We have some sectors,
energy most notably, where prices have risen quite dramatically. But
overall, we continue to benefit from a low inflation environment. The
Fed`s committed to a stable non-inflationary growth. They need to be
vigilant. They are vigilant. Inflation is largely a monetary phenomenon.
We benefit from an economy that is so competitive with rising productivity,
with high productivity rates.
YASTINE: One more Katrina question, though. We`re hearing these
estimates out of Capitol Hill that the spending by the Federal government
could go as high as a quarter trillion dollars. That seems like a very
high number. Can you put some kind of cap on this? Is there going to be
some kind of discipline?
SNOW: Well, the president said and I reiterated his comments yesterday
in testimony before the Finance Committee, that we are going to assist in
the rebuilding of the region and we are going to assist people in
rebuilding their lives. And we`re doing to do it in a fiscally responsible
way. We`re going to make sure that the monies that are deployed are
deployed well, targeted well and spent well. And I think we can do -- that
will be done, but it will be done in a way that is far below those outer
level estimates that you`re referring to. Yesterday...
YASTINE: $100 billion?
SNOW: Yesterday the CBO indicated they thought the number was closer
to -- I think they had $150 billion, which is a lot less than the $250
billion that others are -- or $300 billion that others are talking about.
I think it`s going to be much closer to that low end of the range.
YASTINE: You`re going to leave for Asia tomorrow. You`ll be talking
with the Chinese. It looks like they gave you on paper a flexible exchange
rate, but in practice have not. Are you disappointed?
SNOW: Well, we`re going to continue to press for flexibility. We, of
course, were pleased to see that initial move which took the -- took the
yuan up to 2.1 percent with a commitment to move forward to put in place
greater flexibility and a commitment to use market forces, a commitment in
their statement to use demand and supply.
YASTINE: But why haven`t they done it? Why haven`t they moved more
than 2 percent?
SNOW: We are going to continue to press for greater flexibility and I
think quiet diplomacy, quiet outreach to them, continuing to make it clear
that this isn`t just the United States, but it`s the IMF and it`s the World
Bank and it`s the G-7 and it`s the G-20 and it`s the central bank governor
of the ECB. And it`s virtually all the financial leaders of the world are
saying "it`s time for China to move."
YASTINE: Secretary Snow, thank you very much.
SNOW: 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.
10/07/05: The White House Draws Up Battle Plans To Brace For The Bird Flu
JEFF YASTINE: Well, representatives from 65 countries, international
organizations and drug makers were in Washington, DC today for talks about
dealing with for a possible spread of avian flu. Currently, the disease is
mostly contained to Asia, but as Stephanie Dhue reports, the Bush
administration wants to ensure it does not spread.
STEPHANIE DHUE, NIGHTLY BUSINESS REPORT CORRESPODNENT: Health
officials say the U.S. is not prepared for a bird flu pandemic. There is
only one plant in the U.S. making vaccine against the virus known as H5N1,
which is believed to cause bird flu. Health and Human Services Secretary
Michael Leavitt says the U.S. is working on a comprehensive plan to deal
with any potential flu outbreak.
MICHAEL LEAVITT, SECRETARY, HEALTH & HUMAN SERVICES: This can not
simply be about preparation for H5N1. We don`t know if H5N1 virus will
become a pandemic or not. What we do know is that some day there will be a
pandemic and our preparation is not adequate and our purpose is to prepare.
DHUE: Years of low profits and manufacturing problems have driven most
drug makers from the vaccine business. Current vaccine production uses 50
year old technology with chicken eggs. Public health advocates say
companies need to update their production methods.
KIM ELLIOTT, DEPUTY DIRECTOR, TRUST FOR AMERICA`S HEALTH: There are
other technologies, cell-based technologies and reverse genetic
technologies that companies should be investing in which would allow them
to manufacture vaccine in a far more efficient way and do it year round,
which is something they cannot do now.
DHUE: If there`s an outbreak of bird flu in the U.S., analysts
estimate there could be a billion dollar market for a vaccine. But
isolating the specific strains needed would take six to nine months.
MATT GELLER, BIOTECHNOLOGY ANALYST, CIBC WORLD MARKETS: The problem
here is not so much as supply, I think there is going to be a lot of supply
particularly in the next year or so. The problem really is knowing what
target we`re aiming at and we don`t really know yet. That`s what`s going
to take the time.
DHUE: Drug companies are also producing flu treatments. The
administration is negotiating with the Swiss firm Roche to build stockpile
the treatment Tamiflu. Individuals are also stocking up on the drug. But
Roche warns consumers that Tamiflu sold over the Internet could be fake.
Stephanie Dhue, NIGHTLY BUSINESS REPORT, Washington.
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.
10/07/05: "Market Monitor"--Robert Morrow, editor of the Institutional Advisory Service
PAUL KANGAS: My guest "market monitor" this week is Robert Morrow, editor
of the Institutional Advisory Service and publisher of the monthly letter
entitled the "High Tech Growth Forecaster." Bob, welcome back to NIGHTLY
BUSINESS REPORT.
ROBERT MORROW, EDITOR, INSTITUTIONAL ADVISORY SERVICE: Thank you very
much, Paul.
KANGAS: You`ve been saying for some time now that the stock market has
seen its peak in this cycle and is headed lower. Why are you bearish and
how much lower will it go?
MORROW: Well, the numbers that I had were 11,180.
KANGAS: That was going to be the top, right?
MORROW: That was going to be the top and the NASDAQ 2242 and 1267. It
got within 1 or 2 percent of these numbers in my pin models (ph) turned
negative from a technical standpoint. I think that we`ve seen the top of
the market.
KANGAS: How low can we go in let`s say the Dow?
MORROW: The Dow I expect to be about 8700, The NASDAQ 1500.
KANGAS: 870 you mean on the Dow
MORROW: 870 and the S&P 500 would be 996.
KANGAS: Well you are definitely bearish. I know your indicators
technically are bearish. What is the worst of them?
MORROW: Well, actually, it`s -- I see inflation. I see high P/E
ratios. I see bullish sentiments, way too high complacency. I think these
will all blend into.
KANGAS: Those are fundamental bearish things and all of your
indicators technically are also bearish.
MORROW: That`s right. Cycle and market pattern recognition.
KANGAS: So the fundamentals justify the pessimism of your technical
indicators?
MORROW: They mesh very nicely.
KANGAS: How about a word about interest rates? Are we close to the
top?
MORROW: Well, I think that we`re going to go to 4 3/4 by the end of
the year. I think we`re going to see 5.25, 5.5 in the first quarter of
next year.
KANGAS: Before they pause?
MORROW: And that would be the 10-year note.
KANGAS: OK and while we`re talking about inflationary things, how
about oil? Are we`re near a top?
MORROW: I think we`re in a range of $60 or $70. I don`t have a better
number than that.
KANGAS: OK, but it`s going to stay up there?
MORROW: I think so.
KANGAS: On your last visit in late January, you recommended the
purchase of three exchange-traded funds. Let`s have a look at how they`ve
done since then. Look at that energy spider, up 36.1 percent. At the
beginning of this week before the market tanked, it was doing better,
wasn`t it?
MORROW: Right, 47.3 percent.
KANGAS: Wow. It`s been a rough week for even energy. Utilities have
done nicely. That spider up 17 1/2 percent since late January.
MORROW: Right. It had gone to 23.6.
KANGAS: On the plus side. And there was one other that your had for
our viewers last time and that was gold ETF.
MORROW: I thought it had a shot at 480 this year and it went to 473 so
far.
KANGAS: OK. So it`s on track, so to speak.
MORROW: Exactly.
KANGAS: Street tracks gold, it says.
MORROW: Exactly.
KANGAS: Do you have any new recommendations?
MORROW: Yes. The energy spider.
KANGAS: That`s the one you liked before.
MORROW: Exactly. I still like it. I like the utilities spider.
KANGAS: OK. That`s the same one that you recommended in late January
which has done well.
MORROW: And I`m repeating myself again on the gold. I like it, too.
KANGAS: And the gold as well. Utilities puzzles me if you say interest
rates are going to 5.25 percent short term. Why would you like the utility
index?
MORROW: I just look at it on a technical standpoint apart from
interest rates and I still think that they`ll be a good defensive area to
be in.
KANGAS: Boy, you are defensive in these different ETS. Do you have a
new, new recommendation? You liked the same three as you did in January.
What about a new one?
MORROW: A new one is the consumer staples, the XLP spider. This would
represent companies like Wal-Mart, Procter & Gamble and Coca-Cola.
KANGAS: Things consumers have to buy in order to exist?
MORROW: Food, drugs everything they need to buy.
KANGAS: OK, another defensive issue.
MORROW: Right.
KANGAS: But they`ve done very well in a rather negative market
atmosphere. I guess that`s why you like them.
MORROW: Right. Exactly.
KANGAS: OK. The fourth quarter, most years the tech stocks do well
and that`s your specialty. You`re not recommending any of those?
MORROW: Not at this point. But I think after the first quarter of
2006, I`m going to be in on tech in a very heavy way. I think it will lead
the market back in a very substantial way in a new bull market.
KANGAS: Well, you certainly have given us some good ones like Apple in
its heyday recently. Do you personally own any of the securities that
you`re recommending?
MORROW: No, I do not.
KANGAS: OK. Fair enough. Bob, I want to thank you very much for
sharing your insights with us.
MORROW: Thank you very much.
KANGAS: My guest, Robert Morrow of the Institutional Advisory Service.
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.
10/07/05: "Last Word"-David Duffield's Dream House
JEFF YASTINE: And finally tonight, there are big houses and then there`s David
Duffield`s house, or at least, the house he wants to build. Duffield,
you`ll recall, made a mint last year selling Peoplesoft to Oracle. Now he
wants to use some of the money to build a 72,000 square foot home in a tony
suburb of San Francisco. That`s 18,000 square feet bigger than the White
House, 32,000 square feet bigger than Bill Gates` house, and almost 12,000
square feet bigger than the Hearst castle at San Simeon. And Paul, that`s
not all. Duffield also wants 25,000 additional square feet for
outbuildings. That includes a stable, and what, a 20-car underground
garage. And the neighbors are not happy about the prospect.
KANGAS: I`m not surprised. Trying to keep up with the Dufffields is a
real challenge.
YASTINE: Very expensive.
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.
10/07/05: "The Week Ahead"
JEFF YASTINE: Here`s a look at what`s happening next week. Our Friday
"market monitor" guest is Sam Stovall, chief investment strategist at
Standard & Poor`s. On the economic calendar: Thursday, weekly jobless
claims, the August trade gap, and September import prices; Friday,
September consumer prices, retail sales and industrial production and
capacity utilization. As for earnings, Dow components Alcoa and General
Electric report, as do Apple Computer and Harley-Davidson.
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.
10/07/05:
"Paul Kangas' Stocks In The News"
PAUL KANGAS: That smaller than expected loss of jobs was a relief to
investors, encouraging them to buy stocks depressed by this week`s steep
sell off. At the outset of trading, the Dow rose 35 points, NASDAQ was up
10. That tepid rebound disappointed many potential buyers as did a
comeback in the price of oil so the upturn flattened out this afternoon and
stocks ended with just modest gains.
Dow industrial average up only 5.21 at 10,292.31. It was the Dow`s
only gain this week as it fell 276.39 points overall. The NASDAQ Composite
was up 6.27, closing at 2090.35 today. It rose twice and fell three times
this week for a net loss of 61.34 points. Standard & Poor`s 500 was up 4.41
today at 1195.90. In the bond market, the 10-year note climbed 11/32 to 99
6/32, lowering the yield to 4.35 percent.
By the way, the stock market is opened but the bond market is closed
on Monday for the Columbus Day holiday.
Big board volume leader on 19.9 million shares, General Electric (GE)
up another $0.63, gained $0.91 yesterday after the company said third
quarter earnings will be $0.44 and that`s at the high end of its previous
estimates.
Pfizer (PFE) was down $0.26.
ExxonMobil (XOM) bouncing back $1.03.
Lucent Technology (LU) lost a penny.
And Taiwan Semiconductor (TSM) up $0.13. That was fifth in big board
volume.
Blockbuster (BBI) up $0.97. That`s a 22 percent gain. The company said
it will meet its third quarter debt payments, contrary to speculation. It
sees third quarter earnings being cut by only about $0.02 a share due to
the hurricanes.
Time Warner (TWX) a $0.09 gain.
CVS Corp (CVS), the drug store chain, down another $0.72. It was off
$1.75 yesterday when the company cut its third quarter guidance by $0.02,
down to $0.29 a share.
Texas Instruments (TXN) up a dime.
And SBC Communications (SBC) lost $0.34.
Accenture Ltd (ACN) rising $1.42. Good fourth quarter earnings $0.38,
up from $0.30 last year. Revenues up 13 percent. Standard & Poor`s repeated
a "buy" recommendation and Accenture did initiate a $0.30 per share annual
dividend.
Then we see Apria Healthcare (AHG) losing $5.46. The company cut its
2005 revenue growth forecast from growth of 5 to 6 percent to all the way
down to just 2 to 3 percent growth.
Cable & Wireless (CWP) down $1.15. Company sees first half 2006
revenues dropping 6 percent, due mostly to poor results in its United
Kingdom operations.
Criimi Mae (CMM) up $4.19. This is a commercial mortgage lender. It`s
going to be acquired by CDP Capital Financing, a Canadian company. The
price, $20 a share in cash.
Oxford Industries (OXM), which men`s and women`s apparel, up $3.08.
Big first quarter earnings, $0.79, up from $0.36 a year ago. Sales up 27
percent. Company comfortable with 2006 earnings estimates of $3.42 to $3.52
a share.
Georgia Gulf (GGC) a chemical company, was up $2.23 after the Fulcrum
Partners brokerage upgraded it from "neutral" to "buy."
And PerkinElmer (PKI) rising $1.44. The company`s going to sell its
aerospace unit to Eaton Corp. for $333 million. Baird upgraded Perkins from
"neutral" to "out perform."
And then Westlake Chemical (WLK) up $1.59. Electric power has been
restored to its Lake Charles, Louisiana petrochemical complex.
Volume leader Google (GOOG) up $0.24 on top of a good gain yesterday,
when UBS boosted its price target from $350 to $375 a share.
Research in Motion (RIMM) down $2.42, traded as low as 60 today. A
U.S. appeals court rejected the company`s plea to challenge a ruling that
its Blackberry e-mail device infringed on patents held by NTP Corp.
Microsoft (MSFT) down $0.14.
$0.40 loss in Apple Computer (APPL).
Dell (DELL) up $0.41, fifth in dollar volume.
Sandisk (SNDK) was up $0.84.
Intel (INTC) a $0.06 gain.
Amgen (AMGN) did well, up $1.06.
Cisco Systems (CSCO) down a dime.
And Qualcomm (QCOM), tenth in dollar volume, was down $0.23 a share.
UTStarcom (UTSI) a $2.01 loss, about 26 1/4 percent on the downside on
news the SEC is probing the company`s financial disclosures. The company
did issue a third quarter revenue warning yesterday.
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.
10/07/05:
Market Stats
NET PERCENT
CLOSE CHANGE CHANGE
DOW CLOSE 10292.31 +5.21 + .1
HIGH 10347.30
LOW 10280.62
NASDAQ COMP. 2090.35 +6.27 +.3
HIGH 2097.42
LOW 2082.44
VOLUME 1,609.8
PREVIOUS 2,147.0
UP VOLUME 1,020.5
DOWN VOLUME 569.8
DOW TRANSPORTS 3678.75 +28.54 + .8
DOW UTILITIES 413.82 +5.14 + 1.3
CLOSING TICK -20
S&P 500 1195.90 +4.41 + .4
S&P 100 552.92 +1.66 + .3
MIDCAP 400 692.86 +3.01 + .4
REUTERS/CRB 325.21 +1.28 + .4
NYSE COMPOSITE 7435.19 +35.53 + .5
VALUE LINE 397.98 +2.09 + .5
RUSSELL 2000 644.33 +4.88 + .8
DJW 5000 11953.84 +49.73 + .4
U.S. TREASURIES
5-YEAR NOTE 3.875%
Sept. 15,2010 98 13/32 +2/32 + 4.23
10-YEAR NOTE 4.25%
Aug. 15,2015 99 6/32 +11/32 + 4.35
30-YEAR NOTE 5.375%
Feb. 15, 2031 112 2/32 +23/32 + 4.57
LEHMAN BROS.
LONG BOND INDEX 1778.88 +1.93
DOW CLOSE 10292.31 +5.21 + .1
ADVANCES 2011
DECLINES 1283
NEW HIGHS 19
NEW LOWS 101
NET PERCENT
NYSE MOST ACTIVES 4PM CLOSE CHANGE CHANGE
GE GE 34.22 +.63 +1.9
PFE Pfizer 24.39 -.26 -1.1
XOM Exxon Mobil 59.60 +1.03 +1.8
LU Lucent Tech 3.19 -.01 -.3
TSM Taiwan Semi 8.42 +.13 +1.6
BBI Blockbuster 5.42 +.97 +21.8
TWX Time Warner 18.01 +.09 +.5
CVS CVS Corp 25.58 -.72 -2.7
TXN Texas Instrument 30.63 +.10 +.3
SBC SBC Comms 22.75 -.34 -1.5
NASDAQ CLOSE 2090.35 + 6.27 + .3
VOLUME 1,486.0
PREVIOUS 2,140.8
ADVANCES 1708
DECLINES 1276
NASDAQ ACTIVES
GOOG Google 312.99 +.24 +.1
RIMM Rsch In Motion 64.55 -2.42 -3.6
MSFT Microsoft 24.59 -.14 -.6
AAPL Apple Computer 51.30 -.40 -.8
DELL Dell 32.08 +.41 +1.3
SNDK SanDisk 52.76 +.84 +1.6
INTC Intel 23.82 +.06 +.3
AMGN Amgen 77.02 +1.06 +1.4
CSCO Cisco Systems 17.63 -.10 -.6
QCOM Qualcomm 43.92 -.23 -.5
AMEX CLOSE 1674.90 + 23.26 + 1.4
INDEX SHARES
DIA DIAMONDS TRUST 102.94 unch. unch.
QQQ NASDAQ 100 38.34 +.09 +.2
SPY S&P DEP.RECEIPTS 119.59 +.39 +.3
STOCKS IN THE NEWS
ACN Accenture Ltd 26.67 +1.42 +5.6
AHG Apria Healthcare 26.10 -5.46 -17.3
CWP Cable Wireless 6.29 -1.15 -15.5
CMM Criimi Mae 19.40 +4.19 +27.6
OXM Oxford Industries 48.00 +3.08 +6.9
GGC Georgia Gulf 23.88 +2.23 +10.3
PKI PerkinElmer 22.07 +1.44 +7.0
WLK Westlake Chemical 27.75 +1.59 +6.1
UTSI UTStarcom 5.64 -2.01 -26.3
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