11/07/05:
The Guidant/J&J Merger Suffers Severe Side Effects
LINDA O'BRYON: What began as a dream merger is now becoming a nightmare. Guidant today sued Johnson & Johnson to force the drug maker to close the $24 billion deal to buy it. Guidant insists the deal should have closed last Friday. Johnson & Johnson says it has the right to walk
away from the merger and will defend against this suit because Guidant suffered what it called a "material adverse effect" when some of its medical devices were recalled. Guidance wants to force J&J to close the
deal at the original $24 billion price. But even as it sued, Guidant`s own problems worsened, as it disclosed the SEC has started a formal inquiry into its product disclosures and stock trading.
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.
11/07/05:
The P/E's Progress Depends on How You Measure It
PAUL KANGAS: On Wall Street, lower oil prices meant higher stock prices.
The Dow rose 55 points; the NASDAQ gained eight after crude fell below $60
a barrel. Over the past two weeks, blue chips have risen 3 percent, the
NASDAQ even more. As Erika Miller reports, some market strategists expect
bigger gains ahead.
ERIKA MILLER, NIGHTLY BUSINESS REPORT CORRESPONDENT: If history is any
guide, this should be a sweet spot for the stock market. According to the
"Stock Traders Almanac," November and December are statistically the best
months for stocks. The Standard & Poor`s 500 has gained an average of 1.7
percent during each of those months. Some strategists see an even bigger
rally this year that will push the S&P 500 up 6 percent by New Year`s.
They say the main catalyst is likely to be attractive valuations.
Specifically, they point to the price to earnings ratio, or P/E, of the S&P
500.
TOBIAS LEVKOVICH, CHIEF U. S. EQUITY STRATEGIST, SMITH BARNEY: If you
look at it in a very basic way, the P/E of the market is about a little bit
below its average of the past 50 years. However, if you look at the P/E of
the market against bond yields and equity risk premiums, the market looks
about 25 percent undervalued.
MILLER: Another reason for his optimism is depressed consumer
sentiment, typically a contrarian indicator. The bulls also see strong
earnings momentum.
LEVKOVICH: We`re seeing negative guidance that`s well below average.
Yet people perceive it as being much worse. The second thing I would point
to is when we look at our proprietary models and look at leading profit
indicators, they actually started to turn up a few months ago.
MILLER: But others warn against rushing into the market now. They are
concerned about rising interest rates, which tend to slow the economy and
earnings growth. Another serious concern, a possible slowdown in the
housing market.
MICHAEL METZ, CHIEF INVESTMENT STRATEGIST, OPPENHEIMER & CO.: The
problem is the Fed`s tightening policy really is going to affect the
housing market. The ultimate question is will there be a soft landing on
housing or will it have a big decline? If it has a big decline, we have a
recession next year.
MILLER: Worst-case scenario, Metz says stocks could fall something on
the order of 10 percent early next year. The bulls of course expect the
year end rally to continue through 2006. 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.
11/07/05: Repairing The Hurricane Deficit Damage
PAUL KANGAS: Louisiana lawmakers began a special session of the state
legislature today with an ambitious agenda of hurricane relief. Included
is a possible state takeover of the New Orleans school district to tax
incentives for businesses damaged by the storms. As Darren Gersh reports,
the big challenge will be slogging through the fiscal wreckage left by
Katrina and Rita.
DARREN GERSH, NIGHTLY BUSINESS REPORT CORRESPONDENT: The destruction
stretches on and on, block after block. The personal losses are
staggering. The fiscal hit to the state is simply a nightmare. With lost
fees and tax revenues, Louisiana could be $2 billion short over the next
six months. Add to that spending to support local businesses and
governments and the state`s $19 billion budget could wind up $3 billion in
the hole. State Treasurer John Kennedy says there is no choice but to cut
deeply.
JOHN KENNEDY, LOUISIANA STATE TREASURER: And it will be painful and
politically it will hurt some folks, but we are going to have to do it.
Anybody who thinks we can borrow our way out of this disaster, this
deficit, is just dreaming.
GERSH: The governor cut $431 million out of the budget and called on
legislators to tap $153 million in the state`s rainy day fund. But old
habits die hard. Last month, the state bond commission approved $45
million in new capital spending backed by the governor. Projects include a
livestock arena, civic centers and sports complexes.
KENNEDY: We should have said project by project, do we really need to
do this now or can it wait?
GERSH: Local governments hit by hurricanes Rita and Katrina are also
reeling, some with just enough cash to get through the next three to six
months. The budgetary math for New Orleans is grim. The city now
estimates it will get less than one-fifth the number of tourists it
predicted before Katrina and city tax revenues have dropped from almost $40
million a month to nearly nothing. The city of New Orleans has already
laid off almost half its workforce and still faces a budget hole of $204
million.
OLIVER THOMAS, PRESIDENT, NEW ORLEANS CITY COUNCIL: Unless big
brother comes to help us the same way they do some of these foreign
countries, we are going to have to cut it, continue to lay people off.
GERSH: But big brother is also tightening his belt. As required by
Federal law, FEMA recently sent the state a bill for $3.7 billion for
Louisiana`s share of the recovery effort. Darren Gersh, NIGHTLY BUSINESS
REPORT, New Orleans.
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.
11/07/05: "The Big Picture"-Part 1: Scripting Ways To Boost Box Office Bucks
LINDA O`BRYON: Well, Grokster`s online music and movie download
service has been taken offline. The maker of Internet file-sharing
software reached a surprise settlement today with the music and movie
industries. Grokster posted a note on its web site saying its service was
illegal and no longer available. The settlement comes after a Supreme
Court ruling that technology firms encouraging customers to pirate
copyrighted material can be held liable.
KANGAS: Speaking of movies, a big weekend at the box office for the
new animated Disney film "Chicken Little," making $40 million. But opening
weekends like that are rare for films nowadays. This week, we have a
special series called "The Big Picture," looking at the business of movies.
Tonight Diane Eastabrook looks why the magic may be going out of Hollywood.
DIANE EASTABROOK, NIGHTLY BUSINESS REPORT CORRESPONDENT: In Hollywood
the marquee lights twinkled, stars shined, and cameras flashed. It was the
red carpet roll-out for Walt Disney studios feature film "Flightplan." The
movie stars Jodie Foster as a mother who loses her child aboard a
transatlantic flight. In typical Hollywood fashion everyone predicted
"Flightplan" was going to be a hit.
JODIE FOSTER, ACTRESS: Of course, it`s a thrill and I think that`s
why people will probably come.
EASTABROOK: "Flightplan" was number one at the box office for two
consecutive weeks and took in about $50 million. In Tinseltown that is a
modest hit. It joins other modest hits in what has become a ho-hum year
for Hollywood. U.S. box office receipts and attendance were both down in
the first three quarters of this year compared to the same period last
year. And the home video/DVD market has been flat. Additionally, only two
movies so far have been blockbusters, grossing more than a half billion
dollars worldwide. Last year there were seven blockbusters. The
disappointing numbers have Hollywood insiders scratching their heads.
Studio executives like Disney`s Richard Cook think the movie industry is
simply having an off year.
RICHARD COOK, CHAIRMAN, THE WALT DISNEY STUDIOS: I think when we
provide something that people want to go out of their homes to see on a big
screen with a whole social environment involved, then we`ll do well. And
when we don`t, then I think they stay away.
EASTABROOK: But others think something else is happening.
PETER BART, EDITOR-IN-CHIEF, VARIETY: I think we`re in that time
where the movie industry is a mature industry, the DVD industry is a mature
industry. All bets are off and people are sort of sitting around saying
"now what`s the next phase?"
EASTABROOK: Clearly these are challenging times for the movie
industry. For studios, production and marketing costs are soaring. That
makes a box-office dud even more disappointing. The window keeps shrinking
between the time a movie is released to theaters and the time it is
released to the DVD/home video market. Theater owners say that is a big
reason people aren`t going to the movies and are enjoying other activities
instead.
STEPHEN MARCUS, CHAIRMAN & CEO, MARCUS THEATER CORP.: If those
windows get too short, people will begin to say you know, "I`m busy; I`ve
got a lot of other things to do and so if I can`t get to see the movie now,
I`ll see it on DVD."
EASTABROOK: Rising ticket prices are another reason theater
attendance is declining. Add popcorn and drinks to the price of admission,
and a trip to the movies becomes an expensive excursion for many families.
But changes could be coming soon to a theater near you. New entrants to
the movie industry want to change the way films are produced, promoted and
distributed. And some of the most innovative ideas are coming from outside
of Hollywood. Dallas, Texas, is home to 2929 Entertainment. Todd Wagner
is its co-founder.
TODD WAGNER, CO-FOUNDER & CEO, 2929 ENTERTAINMENT: You hear all the
old jokes right about how do you make a small fortune? You know, you go to
Hollywood with a large fortune.
EASTABROOK: Wagner and partner Mark Cuban made a $6 billion fortune
when they sold broadcast.com to Yahoo! a few years ago. The two now hope
to take on the movie industry the way they took on the Internet.
WAGNER: The cost structure is out of whack. The way that some of the
things, deals are put together is out of whack, so I just basically said,
"I need to rethink the whole model."
EASTABROOK: 2929 Entertainment is a vertically integrated company
that produces, finances and distributes smaller budget films, like "Good
Night and Good Luck," starring George Clooney. The company also owns the
Magnolia and Landmark theater chains. Wagner says being vertically
integrated allows his company to better control costs and be more
innovative. One innovation is a plan to release films simultaneously in
theaters on DVDs and on pay-per-view television. Wagner thinks more people
will see more new movies if they can decide how they will view films. He
thinks theaters could benefit from the plan by sharing in part of the
revenues generated by the home market.
WAGNER: This could be interesting for them. Rather than the
distributors dictating how the rules or going to be, perhaps now they say,
"sure, we`ll consider this day and date, but you know what we want back? We
want a piece of the ancillaries," something that they have not had before.
EASTABROOK: Still, the big studios aren`t waiting for someone else to
rewrite the script on movie making. Sony Pictures entertainment, which
will soon release the big-budget "Memoirs of a Geisha," is considering
smaller budget films that appeal to more niche audiences.
MICHAEL LYNTON, CHAIRMAN & CEO, SONY PICTURES ENTERTAINMENT: One way
at this is to go after more targeted audiences, whether it`s horror or some
people have talked about the faith-based market or the African-American
market, because you know that there is... there are advertising venues and
marketing venues to go after those audiences.
EASTABROOK: While this hasn`t been a blockbuster year for Hollywood,
analysts say the movie industry is still extremely profitable. They`re
confident studios will find new ways to capture the imagination of
audiences and one way is through digital cinema. Tomorrow we`ll take a
look at the technology that will revolutionize the movie industry. Diane
Eastabrook, NIGHTLY BUSINESS REPORT, Hollywood.
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.
11/07/05: Commentary-Partisan Politics Is Stumping The Budget Balancing Process
LINDA O`BRYON: Tonight`s commentator says it`s time to get down to the
bottom line on Capitol Hill. Here`s Alice Rivlin, economist with the
Brookings Institution and former vice chair of the Federal Reserve.
ALICE RIVLIN, ECONOMIST, THE BROOKINGS INSTITUTION: Fierce battles
are being fought this week in Congress over spending cuts in this year`s
budget. The rhetoric is shrill and partisan. Republicans argue for
reducing Medicaid and Medicare to hold down the deficit, while pushing tax
cuts that make it bigger. Democrats claim programs for the poor and the
elderly are being gutted, although proposed reductions are actually quite
small.
Whatever the result, this year`s deficit will be even bigger than
last year`s because both parties want more government spending than they
want to pay for. With partisan anger erupting now, one can only dread what
will happen when the budget problem really gets serious as it will very
soon. The baby boom generation is retiring and all of us are living
longer. Medical care is more effective each year and everyone wants more
of it. These facts will drive Federal spending mostly from Medicare and
Medicaid inexorably upward for the foreseeable future, way beyond revenues
at current tax rates.
If our politicians stick to their partisan scripts, and keep trying
to blame each other, they will act too late to avoid economic crisis. The
only viable course is for leaders in both parties to put aside partisan
differences, act like grown-ups, and hammer out responsible compromises
that neither side likes, but both can reluctantly support. Can they do it?
I`m Alice Rivlin.
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.
11/07/05: Wanted: Talented Techs In India
LINDA O`BRYON: The information technology boom in India has meant a boom
for employment opportunities. Now that boom may be turning into a bust
because it`s getting tougher to find talented professionals. As Smita
Prakash explains, some firms are taking unusual steps to fill jobs.
SMITA PRAKASH, NIGHTLY BUSINESS REPORT CORRESPONDENT: Bangalor is
information technology capitol of India. According to the Indian
government about 200 professionals are hired in IT sector and (INAUDIBLE)
sector every day. And by 2008, the industry will need 400 fresh recruits
daily. To meet the growing demand for high-tech jobs, human resource
managers have literally hit the streets.
SHIBA RAJI, JOB SEEKER, BANGALORE: I was walking through this bridge.
I saw -- I play this (INAUDIBLE)
PRAKASH: Jobs on Wheels is a fast breaking concept which many
multinational tech companies are using to recruit young professionals. The
mobile van has a detachable interview room which opens out like a tent
where job aspirants are interviewed. Job candidates speak to recruitment
officers directly or through headhunters. A few details have to be
provided on the spot like ID and school information. And then the short
listing for the job is done then and there. It is a quick procedure and
companies don`t want to wait. They are keen to issue employment contracts
right there on the road.
USHA KRISHNAN, HEADHUNTER, HR-ONE MANAGEMENT CONSULTANTS: We are
able to place on an average of six candidates (INAUDIBLE) today you might
be getting 300 people, 20 percent of that we give them a call. We send
them for the interview and once again (INAUDIBLE) when they are sent,
(INAUDIBLE) they are quickly.
PRAKASH: In September some 4,000 applicants, mostly fresh, college
undergraduates registered with Jobs on Wheels. HR-One, the consulting firm
that operates the van, says it handles recruitment for several "Fortune"
500 companies.
KRISHNAN: I go to all the streets and I tell about the opportunity.
There are many candidates who are interested because there is not a lot of
this opportunity. They are unable to get candidates in a group. I can
keep the requirement in my mind. I can (INAUDIBLE) then and there.
PRAKASH: The IT and (INAUDIBLE) industry is pushing its headhunters
to find skilled manpower. The industry`s dizzying growth in recent years
has lead to intense competition for manpower. Head hunters are now no
longer waiting for their phones to ring and have instead started to
literally hunt the streets for qualified manpower. Smita Prakash, NIGHTLY
BUSINESS REPORT, New Delhi.
Nightly
Business Report transcripts are available on-line post broadcast.
The program is transcribed by eMediaMillWorks. Updates may
be posted at a later date. The views of our guests and commentators
are their own and do not necessarily represent the views of
Community Television Foundation of South Florida, Inc. Nightly
Business Report, or WPBT. Information presented on Nightly
Business Report is not and should not be considered as investment
advice. Copyright (c) 2005 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
11/07/05:
"Paul Kangas' Stocks In The News"
PAUL KANGAS: Not much movement on Wall Street this morning as a drop in oil
prices was partially offset by profit taking after two weeks of gains.
Buyers took the upper hand this afternoon though as oil dipped below $59
per barrel. Then there were more stock buybacks announced and investors
grew more confident a year-end rally was underway. The Dow Industrial
Average closed up 55 1/2 points at 10,586.23. NASDAQ Composite up 8.81 at
2178.24. Standard & Poor`s 500 index gained 2 2/3 points ending at
1222.81. Over in the bond market, the 10-year note rose 10/32 to 97 2/32,
lowering the yield at 4.63 percent.
New York exchange volume leader on 20.6 million shares, Lucent
Technology (LU) edging $0.02 higher.
Followed by Pfizer (PFE) with a $0.01 gain.
ExxonMobil (XOM) on those lower oil prices, down $0.80.
Citigroup (C) in a firm banking sector, off $0.83.
No change in Time Warner (TWX). The "New York Times" today reported
that Microsoft has emerged as the lead suitor for Time Warner`s AOL unit.
Moving along to EMC (EMC), a $0.15 gain there.
Followed by Chesapeake Energy (CHK) down $0.70.
General Electric (GE) held steady.
SBC Communications (SBC) down $0.25.
And there you see Guidant (GDT) down $1.40. You already heard the news
on J&J, but in addition, Guidant reported sharply lower third quarter
earnings of $0.32, down from $0.63 last year. Sales fell 14 percent and
Standard & Poor`s downgraded Guidant from "hold" to a "strong sell." The
stock did trade as low as $55.38 today.
TXU Corp (TXU) up $7.41, a lot of good news on this company. First of
all, the company sees 2006 operating earnings up from a 2005 level of $3.30
a share to as much as $5.75. TXU also announced a two for one stock split.
It`ll boost its annual dividend from $2.25 a share up to $3.30 a share and
those are the pre-split shares and on top of that, it`s going to buy back
up to 34 million shares. There`s a patch of good news.
Brinks Co (BCO) doing well, up $4.21. The "Financial Times" reports
that Germany`s Deutsche Bahn plans to buy one of the units of the company
called BAX and it`ll pay Brinks for up maybe to $1.2 billion for that unit.
Novelis (NVL) down $2.34. The aluminum recycling firm was spun off
this past January from Alcan Aluminum and it announced it`ll delay third
quarter results to restate first quarter and second quarter 2005
financials.
Flowserve Corp (FLS) up $2.43. The company`s in the fluid control
products business and it says its third quarter bookings are up a very
respectable 19 percent over last year.
Arbor Realty (ABR)losing $2.10. Third quarter earnings came in
higher, $0.50 versus last year`s $0.47, but that was $0.06 below the Wall
Street consensus. Down went the stock.
Harrah`s Entertainment (HET) moved up $0.54. The company plans a huge
Bahamian resort complex with Starwood for $2 billion. It`ll be 3500 rooms.
Starwood stock was up $0.80 a share.
Then we see El Paso Corp (EP) losing $0.70, almost a 6 percent drop.
Third quarter earnings excluding one time items $0.06 but that was $0.09
below the Wall Street consensus.
Google (GOOG) topped the active list up closer to that $400 mark, up
$4.60 today.
Microsoft (MSFT) up $0.35.
Apple Computer (AAPL) down $0.92.
Intel (INTC) a $0.51 gain.
And then a big loss in Sandisk (SNDK) off $3.79. This week`s
"Barron`s" financial notes that Sandisk may face new flash memory chip
competition from (INAUDIBLE) Semiconductor.
Cisco Systems (CSCO) $0.02 loss.
$0.16 drop in Qualcomm (QCOM).
Amgen (AMGN) up $0.70.
ebay (EBAY) gained $0.29.
And Yahoo! (YHOO) a $0.03 gainer, tenth in dollar volume.
Viropharma (VPHM) up $3.11. A turnaround, third quarter earnings of
$0.31 versus a $0.13 loss last year.
And on the American exchange, the specialty chemical firm American
Vanguard (AVD) up $1.87. Third quarter earnings $0.27, up from $0.21 last
year
And finally we see Capital Rock Energy (RKE), Texas electricity
distributor, it`s going to be acquired by private equity firm Lindsay,
Goldberg, Bessemer. The price, $21.75.
Those are the stocks in the news.
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.
11/07/05:
Market Stats
NET PERCENT
CLOSE CHANGE CHANGE
DOW CLOSE 10586.23 +55.47 + .5
HIGH 10593.35
LOW 10520.43
NASDAQ COMP. 2178.24 +8.81 +.4
HIGH 2182.09
LOW 2165.82
VOLUME 1,473.2
PREVIOUS 1,526.3
UP VOLUME 813.6
DOWN VOLUME 603.4
DOW TRANSPORTS 3979.44 +44.22 + 1.1
DOW UTILITIES 394.60 +1.70 + .4
CLOSING TICK +735
S&P 500 1222.81 +2.67 + .2
S&P 100 563.30 +1.33 + .2
MIDCAP 400 715.78 +1.62 + .2
REUTERS/CRB 317.45 -1.32 - .4
NYSE COMPOSITE 7519.42 +11.86 + .2
VALUE LINE 402.84 +1.49 + .4
RUSSELL 2000 661.24 +3.08 + .5
DJW 5000 12252.09 +32.49 + .3
U.S. TREASURIES
5-YEAR NOTE 4.25%
Oct. 15,2010 98 24/32 +4/32 4.54
10-YEAR NOTE 4.25%
Aug. 15,2015 97 2/32 +10/32 4.63
30-YEAR NOTE 5.375%
Feb. 15, 2031 108 2/32 +20/32 4.82
LEHMAN BROS.
LONG BOND INDEX 1722.75 +3.18
DOW CLOSE 10586.23 +55.47 + .5
ADVANCES 1838
DECLINES 1414
NEW HIGHS 98
NEW LOWS 78
NET PERCENT
NYSE MOST ACTIVES 4PM CLOSE CHANGE CHANGE
LU Lucent Tech 2.80 +.02 +.7
PFE Pfizer 22.27 +.01 +.0
XOM Exxon Mobil 57.10 -.80 -1.4
C Citigroup 46.43 +.83 +1.8
TWX Time Warner 17.61 unch. unch.
EMC EMC 14.30 +.15 +1.1
CHK Chesapeake Energy 28.34 -.70 -2.4
GE GE 34.02 unch. unch.
SBC SBC Comm 23.41 -.25 -1.1
GDT Guidant 57.52 -1.40 -2.4
NASDAQ CLOSE 2178.24 + 8.81 + .4
VOLUME 1,786.6
PREVIOUS 1,754.7
ADVANCES 1703
DECLINES 1335
NASDAQ ACTIVES
GOOG Google 395.03 +4.60 +1.2
MSFT Microsoft 27.01 +.35 +1.3
AAPL Apple Computer 60.23 -.92 -1.5
INTC Intel 24.50 +.51 +2.1
SNDK SanDisk 61.35 -3.79 -5.8
CSCO Cisco Systems 17.87 +.36 +2.1
ORCL Oracle 12.61 +.41 +3.4
CSCO Cisco Systems 17.85 -.02 -.1
QCOM Qualcomm 44.64 -.16 -.4
AMGN Amgen 79.89 +.70 +.9
EBAY eBay 41.87 +.29 +.7
YHOO Yahoo! 37.90 +.03 +.1
INDEX SHARES
DIA DIAMONDS TRUST 105.61 +.42 +.4
QQQ NASDAQ 100 40.13 +.05 +.1
SPY S&P DEP.RECEIPTS 122.23 +.12 +.1
STOCKS IN THE NEWS
TXU TXU Corp 101.24 +7.41 +7.9
BCO Brinks Co 46.71 +4.21 +9.9
NVL Novelis 17.11 -2.34 -12.0
FLS Flowserve 37.25 +2.43 +7.0
ABR Arbor Realty 25.30 -2.10 -7.7
HET Harrah's Enter 64.23 +.90 +1.4
EP El Paso 11.31 -.70 -5.8
VPHM Viropharma 24.10 +3.11 +14.8
AVD American Vanguard 22.59 +1.87 +9.0
RKE Cap Rock Energy 20.75 +7.35 +54.9
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