12/23/05:
Will Procrastination Pay Off for Holiday Shoppers?
SUSIE GHARIB: It`s the night before the night before Christmas
and the rush is on. Just one more full shopping day until
Christmas, and retailers are hoping a last-minute flood of
buyers will save what has generally been a ho-hum holiday.
As Erika Miller reports, for many stores, tomorrow could make
or break the season.
ERIKA MILLER, NIGHTLY BUSINESS REPORT CORRESPONDENT: The
mood was frenzied at New York toy store FAO Schwarz. Harried
shoppers scooped up wave boards, "Star Wars" light
sabers and classic board games. Like many retailers, FAO Schwarz
is seeing an unusually big surge in last minute sales.
EDWARD SCHMULTS, CEO, FAO SCHWARZ: We`ve got a real strong
buildup. This year, as you know, Christmas and Hanukkah fall
on the same day that Hanukkah begins. So I think that`s really
giving some nice late-season boost to our sales in December.
MILLER: Electronics stores like Best Buy were also jammed
today with people buying iPods and large screen TVs. Luxury
retailers like Tiffany`s are also faring well.
WALTER LOEB, PRESIDENT & RETAIL ANALYST, LOEB ASSOCIATES:
I think most luxury stores have done better than last year
and have benefited from the momentum generated by bonuses
on Wall Street, by other bonuses and a good feeling in the
stock market.
MILLER: Discounters like Wal-Mart are expected to do better
than last year thanks to deeper markdowns. In fact, analysts
say they`re seeing more promotions industry wide this year.
DANA TELSEY, RETAIL ANALYST, BEAR STEARNS: There was a real
difference between this year and last year. Last year there
was a lot of holiday spirit and everything sold at full-price.
This year it was full of price promotions.
MILLER: But will the last-minute shopping surge be enough
to bring a happy ending to a generally ho-hum year for retailers?
For its part, FAO Schwarz is optimistic.
SCHMULTS: As a company, we`re ahead of last year. So I`m
pretty pleased with how things are shaping up. We`re seeing
strong sales across all categories.
MILLER: Overall, the National Retail Federation is projecting
a 6 percent sales gain for the season, a tad below last year.
Some analysts think the increase could be even higher, thanks
to strong Internet sales.
LOEB: I think we`re actually at 7 percent, and this is a
great number. But contributing to those sales are Internet
sales. I just spoke to JC Penney yesterday and they told me
that their Internet sales probably will be up about 30 percent
for the year.
MILLER: The success of the holiday season will impact more
than just retailers. Consumer spending makes up two-thirds
of economic growth. So strong spending now could spread cheer
to other industries in early 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.
12/23/05:
The Outlook For Housing With David Wyss, Chief Economist,
Standard & Poor's
PAUL KANGAS: It looks like the housing market could be going
from sizzling to fizzling. The Commerce Department today reported
new home sales in November fell a whopping 11.3 percent. That`s
the largest single month drop in nearly 12 years. The data
had other signs of a slowdown as well, including a rise in
the level of unsold homes and home prices on the decline.
That news put blue chip stocks into a slight decline this
morning. But helping to offset it was a bigger than expected
4.4 percent rise in November durable goods orders and an increase
in the University of Michigan`s consumer confidence index.
SUSIE GHARIB: And joining us now for more analysis of that
surprising housing report and the rest of today`s economic
data, David Wyss, chief economist of Standard & Poor`s.
Hi, David.
DAVID WYSS, CHIEF ECONOMIST, STANDARD & POOR`S: Hi, how
are you doing.
GHARIB: I`m fine, thank you. As you know, people have been
talking about the coming collapse in housing for some time
now. Do you think that today`s report confirms that?
WYSS: Well, I don`t think this proves it, but I think we
are seeing enough signs that it`s topping out, that we do
expect it to drop off next year. Mortgage rates are up, and
that`s affecting buying decisions.
GHARIB: The part of the report that was most alarming was
the part that said that inventories were at a 4.9 month supply,
which is the highest level in nine years, and some people
were suggesting that what`s going on here could influence
Fed policy about interest rates. What are your thoughts on
that?
WYSS: I don`t think it will influence it very much. You have
to realize, 4.9 months, we used to think six months was normal
for these inventories. So 4.9 isn`t going to scare anybody.
It was 4.7 just two months ago. So I don`t think it`s going
to scare the Fed. I don`t think it`s really going to affect
their policy significantly, but it is one more reason to stop
tightening pretty soon.
GHARIB: Let`s talk a little bit about the rest of the economic
reports that came out today. Durable goods report stronger
than expected, consumer sentiment also up sharply, biggest
jump in two years. What`s your analysis of these reports?
WYSS: Well, first of all, the durable report was really a
weak report. It was up but only because of a big surge in
airplane orders over the last two months. Take that out and
it was down about 1 percent. That`s not good news for the
manufacturing sector, except for Boeing and its suppliers.
But the consumer confidence is certainly good news, particularly
for retailers. People have recovered from their Katrina shock.
They don`t seem scared of oil and energy prices anymore and
they`re out there spending their little hearts out.
GHARIB: So what are these reports telling you about what
kind of shape the economy is? On the one hand, we`ve got these
housing numbers are weaker than expected and then we`ve got
these other numbers that are a little stronger than expected?
WYSS: I think you`ll see a fairly strong economy next year.
We`re looking for 3.6 percent growth this year, probably about
3.4 percent next year, but a rotation. Consumers are going
to slow down, housing is going to slow down, but it looks
like capital spending will be a bit higher, and I don`t think
we`ll get quite as much of a drag from trade. Add to that
all the Katrina rebuilding costs down in New Orleans and it`s
still going to be a pretty good year.
GHARIB: So what has been -- let`s go back to what we were
talking about earlier, interest rates. What is your outlook
on interest rates and what the Federal Reserve is going to
do? Right now we have the Federal fund rates at 4.25 percent.
Where do you see it ending up when all is said and done next
year?
WYSS: They have now raised ratings at 13 consecutive meetings
and my guess is they`re too superstitious to stop there, so
they`ll go at least one more, probably two more and then stop
for the rest of the year. So I`m looking for 4.75 percent.
But of course bond yields are still very low. Mortgage rates
are still very low. I think those will start to go up next
year, but I`m not sure of it.
GHARIB: The bond market had a pretty good rally, as you just
heard. What do you think that the bond market was signaling
today from the analysis of all this data?
WYSS: I think two things, number one, obviously, the inflation
numbers have been very low, particularly yesterday`s numbers
that came out with the consumer spending numbers. And the
second point is, this is more evidence the Fed`s going to
stop pretty soon, and that`s good news for the bond market.
GHARIB: I want to just back up here a little bit about the
consumers, good sentiment numbers today, but we do know that
these high energy prices are taking a toll in terms of what
people are paying for their home heating and whatever. By
the end of the winter, if -- between the high energy prices
and also the weakening housing, are consumers going to be
in the mood to be spending their money anymore?
WYSS: Well, I think they`ll be spending less. We`re spending
-- for six months in a row now, we`ve spent more money than
we`ve earned. How long can you keep on doing that? So I think
consumers will have to slow down. Energy costs will be one
factor. But higher interest rates are another and home prices
level off and home sales drop off. Well, you`re not going
to get all those sales that go along with the new homes, the
furniture, the rugs, everything else that your wife insists
on buying as soon as you buy the new house.
GHARIB: Exactly. All right, well, David, thank you very much
for sharing your outlook with us. We hope you have a very
happy hHoliday and a happy new year, and we`ll see you in
2006.
WYSS: Thank you.
GHARIB: We`ve been speaking with David Wyss, chief economist
of Standard & Poor`s.
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.
12/23/05: Airfares Continue
To Soar
PAUL KANGAS: If you`re flying somewhere for the holiday,
chances are you paid more for your tickets than you did last
year. Airfares this holiday season are the highest in four
years. That`s because many airlines restructured, cut routes
and filled more seats. As Stephanie Dhue reports, those and
other industry changes are expected to keep airfares higher
into the New Year.
STEPHANIE DHUE, NIGHTLY BUSINESS REPORT CORRESPONDENT: Part
of what
has given low-cost leader Southwest its edge are hedges that
keep fuel costs well below the competition. But those hedges
are expiring. Southwest raised fares 11 times this year and
analysts expect more to come.
DARRYL JENKINS, AIRLINE CONSULTANT: Southwest has been aggressively
increasing their ticket prices over the last year. I assume
they will next year, as well. Southwest is very focused on
money. Even without their fuel hedges with their new pricing,
they will make money next year.
DHUE: Those price increases have been modest, between $1
and $8 a ticket. Analysts predict overall industry fares will
be 5 to 10 percent higher in the New Year.
PHILIP BAGGALEY, TRANSPORATION ANALYST, STANDARD & POORS:
2006 should be a better year. The recent revenue trends and
fuel prices coming down are hopeful signs. However, even with
that, very few airlines are likely to make profits.
DHUE: S&P predicts Southwest Airlines will stay solidly
profitable. Low-cost carriers Jet Blue and Air Tran should
break even along with legacy carrier Continental.
BAGGALEY: It`s an improving picture, but still, if you look
at it compared to industries across America, it`s still a
very troubled industry.
DHUE: Airline stocks have rallied since Northwest and Delta
filed for bankruptcy in September with the American exchange
airline index up over 40 percent. Calyon analyst Ray Neidl
says that may be overdone. He currently has neutral ratings
on U.S. Airways, American and Continental.
RAY NEIDL, AIRLINE ANALYST, CALYON SECURITIES: The stock
prices have gotten a little bit ahead of themselves, and I`m
looking for some kind of a pullback in stock prices going
into the slow winter season.
DHUE: Airline analysts are optimistic the worst is over for
the industry. But that optimism could be grounded by any number
of uncertainties, including the economy, jet fuel prices,
or a widespread outbreak of the bird flu. 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.
12/23/05: Market Monitor
-Tom Herzfeld, President Of Thomas Herzfeld Advisors
PAUL KANGAS: My guest market monitor this week is Tom Herzfeld,
president of Thomas Herzfeld Advisors, a firm specializing
in closed end funds and welcome back to NIGHTLY BUSINESS REPORT,
Tom.
THOMAS J. HERZFELD, PRESIDENT, THOMAS HERZFELD ADVISORS:
Thank you,
Paul.
KANGAS: It`s exactly a year ago to the day when you were
last with us and then you noted that 51 new closed end funds
raising some $24 billion were launched in 2004. Has there
been that much activity in 2005?
HERZFELD: Almost, not quite, but almost.
KANGAS: Another $20 billion or so.
HERZFELD: Another $20 billion.
KANGAS: Is that good for the investor or just good for the
fund managers?
HERZFELD: It`s not good for the investors. The fund managers
and the underwriters did very well. The investors in these
funds lost money.
KANGAS: Too much supply is that what you`re saying?
HERZFELD: Too much supply. There`s a glut and they`re really
cheap now, great bargains.
KANGAS: OK, what`s the difference incidentally between a
closed end fund and an exchange traded fund or ETF which have
become so popular?
HERZFELD: It`s complicated, but the exchange rate fund basically
is a fixed portfolio, whereas the closed end fund is continually
managed. The exchange traded fund trades right around net
asset value. The closed end fund can trade above or below
net asset value.
KANGAS: At a premium or a discount.
HERZFELD: A premium or a discount.
KANGAS: Tell us about your strategy when you buy and sell
these closed end funds.
HERZFELD: We buy them when the discounts are stretched like
a rubber band too wide and in December, that always happens.
KANGAS: Do you ever sell them short?
HERZFELD: We sell them short. We like to short the new issues.
It`s tough to borrow the stock.
KANGAS: Buy back at a profit that is, I guess. Anyway, but
there are a lot of them out there. And a year ago, you did
recommend buying four closed end funds. Let`s look at the
charts of how these funds varied in price during the year.
Pioneer tax advantage other for example, it was strong the
early part of the year and weak in December, like you say.
Why are these funds so weak late in the year?
HERZFELD: Tax selling pushes them to very big discounts to
net asset value.
KANGAS: OK, let`s have a look at another one that you recommended,
Salomon Brothers capital pretty much the same pattern, early
strength in the year and then it trail off.
HERZFELD: Yes. There`s always a snap-back in January. I`ve
been doing this for almost 40 years --
KANGAS: Because you`re in there buying at a discount, right?
HERZFELD: Exactly.
KANGAS: Let`s have a look at the other two that you recommended.
John Hancock tax advantage fund, same basic pattern and you
see those deep discounts and you`re a buyer suddenly, right?
HERZFELD: This is a particularly good year, discounts a very
wide.
KANGAS: There`s the last one insured muni income fund. There
again, it`s going in that same pattern, which you -- is very
predictable and therefore makes trading at a profit rather
easy, does it not?
HERZFELD: Well, it`s never easy, but it`s predictable.
KANGAS: Do you have any new recommendation? Let`s have a
few more that you think are even more attractive than what
you recommended last year.
HERZFELD: Nuveen preferred convertible number two. The symbol
is JQC. It`s trading at its widest discount of the year, 17
percent.
KANGAS: Oh, you like that. OK, let`s have another one. There
we go, Salomon Brothers Capital.
HERZFELD: There are 20 of the Citigroup funds, Salomon Brothers
is one of them, and they`re trading at very wide discounts
for some interesting reasons which we could get into.
KANGAS: And there we see weakness again in December and that
at a discount.
HERZFELD: Seventeen discounts to net asset value.
KANGAS: That seems to be your magic number. You love that
17 percent discount from net asset value.
HERZFELD: That`s the widest end of the range in today`s market.
KANGAS: OK, let`s see another one. Pioneer, that`s the same
one you recommended last year.
HERZFELD: Pioneer, we could do it all over again this year.
KANGAS: You like all that movement. OK. Let`s have a look
at one more, Eaton Vance.
HERZFELD: Right on its bottom, 17 -- excuse me, 14 discount,
about an 8 or 9 percent yield. All of these have good yields
and pay monthly dividends.
KANGAS: Averaging, look at that one, 8.6 percent. Is that
right?
HERZFELD: Yes.
KANGAS: Somewhere around there?
HERZFELD: That`s correct, that`s correct.
KANGAS: So you`re making money while you wait for the thing
to appreciate.
HERZFELD: Well, if it takes two or three months, you get
monthly dividend.
KANGAS: And they do pay monthly?
HERZFELD: Yes.
KANGAS: OK, we have one more.
HERZFELD: Salomon Brothers fund number two, HIX. It may be
the cheapest of the ones we`ve been looking at here.
KANGAS: OK, same pattern, weak in December, and here we are.
HERZFELD: It had almost an 18 discount today. We were buying
aggressively today.
KANGAS: Do you personally own these funds?
HERZFELD: For myself and my clients. Of the ones we mention,
probably not more than one million shares.
KANGAS: So you`re in there big time. Very good. Thanks so
much for your insight once again, Tom. Great to have you with
us.
HERZFELD: Thank you Paul.
KANGAS: My guest, Thomas J. Herzfeld, president of Thomas
J. Herzfeld Advisors.
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.
12/23/05: Last Word- The Many Sides Of Santa
SUSIE GHARIB: And finally tonight, 2005 seems to be a tough
year for Santa Claus. There are reports of Santas wreaking
havoc worldwide this holiday season, including one that held
up a store in Germany last weekend armed with a gun. There
was also a Santa in Sweden who set fire to a huge straw sculpture
in a town square shooting flaming arrows into it. Then there
were the 40 Santas who went on a rampage in Auckland, New
Zealand, stealing from stores and assaulting a security guard.
Still though Paul, here`s a good story. There`s a Santa in
England, who placed Christmas cards with cash in them on the
car windshields of drivers who had just gotten parking tickets.
KANGAS: ...the ticketing officer went by the name of Grinch,
perhaps.
GHARIB: You got to think a little more positive.
KANGAS: I will.
GHARIB: Paul, I hope you have a great holiday. I know you`re
off next week.
KANGAS: That`s correct.
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.
12/23/05: "Paul Kangas' Stocks In The News"
PAUL KANGAS: An hour and a half into trading, the Dow was
off 15 points, but the NASDAQ Index was up a fraction. This
afternoon, activity slowed to a crawl ahead of the long weekend
and the market closed on a mixed note. Dow industrial average
lost 6.17 points at 10,883.27 today. This week the Dow rose
twice, fell three times, had a net gain of 7 2/3 points. The
NASDAQ Composite was up 2.93 today at 2249.42. It fell twice
and rose three times this week, but lost three points overall.
Standard & Poor`s 500 Index was up 1/2 point today at
1268.66. Over in the bond market, the 10-year note rose 14/32
to par and 31/32, putting the yield down to 4.38 percent.
Topping the active list on the New York exchange, trading
18.7 million shares, Albertson`s (ABS) was down $2.74 on news
the company has terminated talks to sell the entire company,
but it is still talking with several parties about selling
its under performing assets.
Pfizer (PFE) in there with a $0.10 loss.
Lucent Technology (LU) dropped $0.02.
Qwest Communications (Q) edging $0.04 higher.
General Electric (GE) showed no change on the day, was fifth
in big board volume.
ExxonMobil (XOM) down a penny.
General Motors (GM) fighting back a little after hitting
a 23-year low yesterday, up $0.19.
Time Warner (TWX) dropped $0.02.
And Motorola (MOT) a $0.22 gain.
Maxtor (MXG) was tenth in volume up $0.06. Of course as we
reported earlier in the week, Maxtor is being acquired by
Seagate Technology for about $7.50 worth of Seagate stock.
There you see Boeing (BA) up only $0.17, traded as high as
$72.05 though. The "Wall Street Journal" reported
the company is close to beating out Airbus in the sale of
some $10 billion worth of aircraft to Singapore Airlines.
That would be a huge contract.
Wal-Mart Stores (WMT) down $0.26. A California jury ordered
the company to pay $172 million to thousands of employees
who claimed they were illegally denied lunch breaks.
Bausch & Lomb (BOL) a major loser, down $7.07. The company
will restate all of its financials from the year 2000 to present
as a result of improper conduct by management of its Brazilian
unit. The company`s also probing allegations of improper sales
practices by its Korean unit, a lot of negative news there.
Affiliated Computer (ACS) up $2.92. The "New York Times"
today reported the company is in talks with potential buyers
and could fetch as much as $62 a share.
Kohl`s Corp (KSS) big department store chain, up $2.10. CS
First Boston named it as the top stock pick for 2006 in the
retail sector.
Par Pharmaceuticals (PRX) up $1.56. The company received
final FDA approval for its new drug application on a generic
version of Bristol Myers antibiotic called Cefzil.
Topping the active list on NASDAQ as it usually does these
days, Google (GOOG) down $1.11, some mild profit taking.
Then Microsoft (MSFT) with a nickel gain.
Apple Computer (AAPL) fell $0.67.
Sandisk (SNDK) rising $1.34.
Cephalon (CEPH) up another $4.50 after jumping $4.76 yesterday
on news of a settlement of a patent dispute. Today Morgan
Stanley upgraded it from "equal weight" to "over
weight." The company also announced it had acquired a
firm called Zenius Holdings Limited.
Intel (INTC) no change.
Cisco Systems (CSCO) $0.06 gainer.
Bed Bath & Beyond (BBBY) up $0.27.
Oracle (ORCL) rose $0.02.
And then Research in Motion (RIMM) tenth in volume, down
$0.97 a share.
Staar Surgical (STAA) was up $2.74, a nice gain of 47 1/2
percent. The news: the FDA approved the company`s myopia treatment.
That`s for nearsightedness as we see on the picture there.
Applied Signal Technology (APSG) down $4.16. Its fourth quarter
earnings were better than expected, $0.26 up from $0.21. That
was a nickel above the Street expectation. Stock doing well,
up over $4.
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.
12/23/05:
Market Stats
NET PERCENT
CLOSE CHANGE CHANGE
DOW CLOSE 10883.27 -6.17 - .1
HIGH 10904.80
LOW 10869.83
NASDAQ COMP. 2249.42 +2.93 +.1
HIGH 2254.71
LOW 2245.58
VOLUME 941.9
PREVIOUS 1,345.2
UP VOLUME 526.3
DOWN VOLUME 386.6
DOW TRANSPORTS 4266.75 +16.14 + .4
DOW UTILITIES 411.65 +.77 + .2
CLOSING TICK +99
S&P 500 1268.66 +.54 + .0
S&P 100 579.41 +.06 + .0
MIDCAP 400 748.48 +2.49 + .3
REUTERS/CRB 326.31 -.45 - .1
NYSE COMPOSITE 7841.90 +8.13 + .1
VALUE LINE 417.90 +1.09 + .3
RUSSELL 2000 686.44 +2.36 + .3
DJW 5000 12711.69 +11.42 + .1
U.S. TREASURIES
5-YEAR NOTE 4.375%
Dec. 15,2010 100 8/32 +8/32 4.32
10-YEAR NOTE 4.50%
Nov. 15,2015 100 30/32 +13/32 4.38
30-YEAR NOTE 5.375%
Feb. 15, 2031 112 10/32 +1 1/32 4.55
LEHMAN BROS.
LONG BOND INDEX 1317.74 +11.50
DOW CLOSE 10883.27 -6.17 - .1
ADVANCES 2093
DECLINES 1205
NEW HIGHS 154
NEW LOWS 74
NET PERCENT
NYSE MOST ACTIVES 4PM CLOSE CHANGE CHANGE
ABS Albertson’s 20.54 -2.74 -11.8
PFE Pfizer 23.96 -.10 -.4
LU Lucent Tech 2.75 -.02 -.7
Q Qwest Comm 5.67 +.04 +.7
GE General Electric 35.42 unch. unch.
XOM Exxon Mobil 57.09 -.01 -.0
GM General Motors 18.83 +.19 +1.0
TWX Time Warner 17.68 -.02 -.1
MOT Motorola 23.48 +.22 +1.0
MXO Maxtor 7.10 +.06 +.9
NASDAQ CLOSE 2249.42 + 2.93 + .1
VOLUME 1,001.2
PREVIOUS 1,537.4
ADVANCES 1561
DECLINES 1424
NASDAQ ACTIVES
GOOG Google 430.93 -1.11 -.3
MSFT Microsoft 26.64 +.05 +.2
AAPL Apple Computer 73.35 -.67 -.9
SNDK SanDisk 63.04 +1.34 +2.2
CEPH Cephalon 65.17 +4.50 +7.4
INTC Intel 25.97 unch. unch.
CSCO Cisco Systems 17.35 +.06 +.4
BBBY Bed Bath Beyond 36.54 +.27 +.7
ORCL Oracle 12.34 +.02 +.2
RIMM Rsch In Motion 67.33 -.97 -1.4
AMEX CLOSE 1758.77 - 6.93 - .4
INDEX SHARES
DIA DIAMONDS TRUST 108.75 +.05 +.1
QQQ NASDAQ 100 41.40 +.01 +.0
SPY S&P DEP.RECEIPTS 126.76 +.07 +.1
STOCKS IN THE NEWS
BA Boeing Co 71.49 +.17 +.2
WMT Wal-Mart Stores 48.34 -.26 -.5
BOL Bausch & Lomb 72.00 -7.07 -8.9
ACS Affiliated Comp 61.00 +2.92 +5.0
KSS Kohl's 48.70 +2.10 +4.5
PRX Par Pharmaceutical 32.06 +1.56 +5.1
STAA Staar Surgical 8.51 +2.74 +47.5
APSG Applied Signal 23.50 +4.16 +21.5
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