01/17/06: The Chips Are Down For Intel
SUSIE GHARIB: A big earnings miss for Intel late today and
the stock tumbled as much as 7 percent in after hours trading. The chip
giant earned $0.40 a share in the fourth quarter, $0.03 below analyst
estimates. Revenues rose 6.3 percent to $10.2 billion, but that was still
$350 million less than estimates. Intel blamed the shortfall on
disappointing PC chip sales and lower prices. For 2006, the company
expects sales to rise 6 to 9 percent, but Intel`s chief financial officer
Andy Bryant says the company will still see some weakness early on.
ANDY BRYANT, CFO, INTEL: We expect the first quarter to be a little
weaker than seasonal. So normally in Q1, you`d see revenue down about 5
percent. We think it`s going to be down about 8 percent. So what we see is
working through some of these issues through the first quarter. Then we see
strength through the rest of the year.
GHARIB: The news was better from another technology giant, IBM. Big
blue had a blowout quarter. Excluding charges, it earned $2.11 a share,
$0.17 above estimates and $0.43 better than a year ago. The company says
sales of mainframe computers to businesses and its consulting services were
the key drivers. But revenues fell 12 percent and missed estimates by more
than a billion dollars. The company blamed the strong dollar and the
recent sale of its personal computer business to China`s Lenovo.
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.
01/17/06: Geopolitical Issues Fuel Skyrocketing Oil Prices
PAUL KANGAS: Oil prices jumped back above $66 a barrel in New York trading
today. Light sweet crude for February delivery closed up $2.39 at $66.31
on a growing list of geopolitical problems. So could those problems force
even higher prices into the pipeline? Suzanne Pratt asked the experts.
SUZANNE PRATT, NIGHTLY BUSINESS REPORT CORRESPONDENT: Supply jitters
returned to the New York oil market today, sending crude to its highest
level in three months. The major concern is disruption in oil supply from
Iran. The country says it will resume its nuclear research program,
although it is denying plans to develop nuclear weapons. Nevertheless,
Europe and the U.S. are calling an emergency meeting of the International
Atomic Energy Agency, a U.N. nuclear watchdog. That meeting could lead to
sanctions against Iran, which would force the country to halt its exports,
including oil. If that happens, about 5 percent of the world`s daily oil
supply would be taken off the market.
JACK AYDIN, OIL ANALYST, KEYBANC CAPITAL MARKETS: The latest
situation with Iran is basically creating a lot of issues in a sense. If,
for one reason or another, sanctioning imposed or military action to take
place, Iran is producing close to four million barrels a day.
PRATT: If sanctions are imposed, some analysts predict oil could hit
$100 a barrel, at least temporarily. To a lesser extent, traders say they
are also concerned about supply disruptions in Nigeria, where militants
threaten to attack oil companies.
ERIC BOLLING, INDEPENDENT TRADER, NY MERCANTILE EXCHANGE: Tensions
add to the speculation that possibly more oil will come off the world
market going forward into `06. And as you know, we`re in a really delicate
supply/demand balance right now.
PRATT: That concern was further heightened by new predictions that
world oil demand will accelerate throughout this year. Oil prices have
soared since the summer, despite an unusually mild winter. Crude is just a
few dollars shy of the record $70.85 a barrel hit August 30, the day after
hurricane Katrina struck. But other energy products, including natural gas
and heating oil, remain at least 40 percent below their summer highs.
Analysts say that`s because crude is more of a global commodity, while
natural gas and heating oil are affected to a greater degree by regional
variables like weather. Experts say the best hope to get oil prices lower
would be a diffusion of the Iran situation. If that were to happen,
analysts predict oil prices could fall $5 a barrel overnight. Suzanne
Pratt, 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.
1/17/06: The Stakes Are Raised Again In The Fight For Guidant
SUSIE GHARIB: The bidding war for Guidant escalated today. Boston
Scientific raised its offer for the maker of medical devices to about $27
billion, 12 percent higher than the $24.2 billion bid that Guidant has
already accepted from Johnson & Johnson. Well, late today, Guidant`s board
said Boston Scientific`s offer was superior to J&J`s, and gave J&J five
business days to make another offer or it will terminate that deal.
Joining us now with more analysis, Scott Thoma, medical device analyst with
Edward Jones. Hi, Scott.
SCOTT THOMA, HEALTHCARE ANALYST, EDWARD JONES: Hello, Susie. Thank
you for having me.
GHARIB: So Guidant is saying the Boston Scientific offer is superior,
obviously, in terms of dollars. That may be the case, but is it superior in
terms of the Boston partner for Guidant?
THOMA: I think if you take the dollars aside, I would question whether
Boston Scientific is really the best suitor. I think J&J makes a better
suitor for Guidant, given its financial flexibility, its AAA balance sheet.
But this is a substantial premium (ph) from Boston. It`s about 12 percent
and so and I think the board has to do, at least in this case, what`s best
for the shareholders here in terms of the price, but really the board knows
that this isn`t over. I think they expect something next from J&J.
GHARIB: Johnson & Johnson, after the board ruled as it did, came out
and said that that $80 offer from Boston Scientific really isn`t worth $80
because it will be dilutive and it`s highly leveraged. So is it really a
superior price?
THOMA: It is a superior price based on the dollar amounts. But I
think J&J definitely has a point and this is some wrangling by J&J here. I
think they`re starting to use the words out there and try and convince the
shareholders, just in case this does ultimately go to a proxy fight where
firms go to the shareholders and say, OK, which suitor do you want, J&J is
starting to get that ball rolling by making some negative comments about
the bid.
GHARIB: So are you saying that Johnson & Johnson will not raise its
bid? Is this as high as it`s going to go? What`s your thought on that?
THOMA: I`m not saying that they`re done. I wouldn`t be surprised if
they maybe raised it to $77, $76 a share or so, but I would be surprised if
they went much higher than that. If you recall, $76 was the original
initial offer that they bid and so I think something around there might be
as high as they would go, but I think there`s definitely a point where J&J
is going to walk away and say, look, this is ridiculous, Guidant`s
definitely not worth that much. You guys can have them.
GHARIB: During the day, during regular trading, Guidant`s stock was up
$5 or 7.5 percent, but after this announcement, Guidant, J&J and Boston
Scientific were all basically unchanged. From the point of view of which
stocks are the ones to invest in going forward, if Guidant joins up with
Boston Scientific, is that the stock to own?
THOMA: I don`t think so. We have a hold on Boston Scientific right
now. Definitely, there`s a lot of strategic reasons why Boston wants
Guidant. They need diversification. Guidant provides it. So it is
attractive strategically. I just think it`s a lot for Boston Scientific to
swallow. I think an interesting case to make is it does show how
strategically valuable the cardiac rhythm management business is, the area
with defibrillators and pacemakers. So an attractive investment in our view
would be a company like Medtronic, who is a leader in that business.
GHARIB: Real quickly, what is your ownership on Guidant, Boston
Scientific, and J&J. Do you own any of these?
THOMA: No, I do not. I do not own any ownership in any of these
companies and our firm does not do any business with those either.
GHARIB: All right and real quickly, on the medical device market, you
mentioned Medtronic. Looking ahead three years from now, what will we be
saying about Guidant, whichever company it`s with?
THOMA: Pardon me, I`m sorry.
GHARIB: Three years from now, what will we be saying about Guidant,
whether it`s with J&J or Boston Scientific. Can this company get back on
track?
THOMA: I certainly think it can. I think doctors in general tend to
be very sympathetic to recalls. Recalls unfortunately are not something
that happens once in a blue moon. All of these companies, Medtronic, J&J,
Boston, Guidant, have all had recalls in the past. So as long as they
support their doctors, I think they can get back on track. The question is
is can they deliver enough value to support the kind of --
GHARIB: Sorry to jump in, Scott. Scott, we`ve run out of time. We`d
love to hear more. We`ll get you back and I`m sure the story will continue
on.
THOMA: I`m sure it will. Thank you very much for having me.
GHARIB: We`ve been speaking with Scott Thoma, a medical device analyst
with Edward Jones.
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.
1/17/06:The SEC Agrees To Rewrite The Rules For Privacy For Executive Pay
PAUL KANGAS: The Securities and Exchange Commission voted unanimously today
to consider the most sweeping changes to executive pay disclosure in more
than a decade. Under new proposed rules, investors will find it easier to
know just how much companies are paying their top brass. As Stephanie Dhue
reports, the changes have been in the works for years.
STEPHANIE DHUE SUZANNE PRATT, NIGHTLY BUSINESS REPORT CORRESPONDENT:
Four years after companies like Enron, WorldCom, and Tyco shocked investors
with the pay and perks lavished on their executives, the Securities and
Exchange Commission today proposed new rules that give investors more
information about executive pay. SEC Chairman Christopher Cox says the
agency is not trying to dictate pay levels.
CHRISTOPHER COX, CHAIRMAN, SECURITIES AND EXCHANGE COMMISSION: By
improving the total mix of available information to the marketplace,
however, we can help shareholders and compensation committees of boards of
directors to assess the information themselves.
DHUE: Under the proposed rules, companies will have to disclose total
compensation for their top five executives, including the dollar value of
stock holdings and options; the value of retirement plans and deferred
compensation and any perks valued at more than $10,000. Additionally, the
rules would require disclosure of pay if the CEO is terminated or there`s a
change of control at the company. Many shareholders want to see greater
disclosure to help rein in executive pay, but Commissioner Atkins says
there could be a race to the top instead.
PAUL ATKINS, SEC COMMISSIONER: Some suggest that the very disclosure
of executive compensation has contributed to some of the instances of large
pay packages, as all packages are now public and any company can see what
its competitors pay.
DHUE: Investor advocates are keeping a close eye on the commission to
make sure the rules stick.
RICHARD FERLAUTO, INVESTMENT POLICY, AFSCME: The SEC has to be
prepared to move forward fairly swiftly, and not weaken or to water down
the disclosures, which I think on the whole are pretty good.
DHUE: Final details of the rules will be crafted as the commission
seeks comment from the public. The SEC will then try to balance its desire
for full disclosure with the burden that puts on companies. Rules should
be finalized by next year. 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.
1/17/06: Eliminating Lobbyist Earmarks Is Now A Capitol Concern
SUSIE GHARIB: The push to clean up lobbying in Washington is gaining
momentum. Today House Republican leaders called for a complete ban on
gifts and travel paid for by lobbyists. Lawmakers in the House and Senate
are also scrutinizing the connection between lobbying and special favors
that some congressmen have put into huge spending bills. Darren Gersh
reports.
DARREN GERSH, NIGHTLY BUSINESS REPORT CORRESPONDENT: John McCain today
added a relatively new issue to the lobbying reform agenda: earmarks.
Those 16,000 congressional pet spending projects in the last transportation
bill, McCain calls a key reason lobbying has exploded in Washington.
SEN. JOHN MCCAIN, (R) ARIZONA: The behavior has been driven by the
ability to contact -- perhaps even in the middle of the night -- a member
of the appropriations committee, who then writes in a line item, which no
one sees or knows about sometimes days or even weeks after the bill is
passed. That`s a process that lends itself to corruption.
GERSH: McCain thinks its time to eliminate all the earmarks. House
Republican leaders wouldn`t go that far today. Even as he promised to take
up the issue as part of a lobbying reform package, House Speaker Dennis
Hastert took a step back.
REP. DENNIS HASTERT (R) HOUSE SPEAKER: We need to make sure that
whatever we do, we do this on an equal footing and there`s a fairness
across the board, both the House and Senate. Quite frankly, we also have
to observe the rights of members to represent their districts.
GERSH: The broader outlines of lobbying reform are now becoming
clearer. Democrats and Republicans now favor a two-year waiting period
before former members and staff can lobby Congress. They also agree on the
need for more extensive disclosure of lobbying activities. Both parties
are pushing for tougher rules on gifts from lobbyists, as well as a ban on
privately funded travel. Activists say writing better rules is only a
first step.
CHELLIE PINGREE, CEO, COMMON CAUSE: They are certainly working their
way to things they never would have talked about even two months ago, but
unless they are willing to enforce these rules, we won`t really see any
change.
GERSH: Today Republicans talked up reform. Tomorrow Democrats unveil
their ideas for ending what they are calling a culture of corruption in
Washington. Darren Gersh, NIGHTLY BUSINESS REPORT, Washington.
Nightly
Business Report transcripts are available on-line post broadcast.
The program is transcribed by eMediaMillWorks. Updates may
be posted at a later date. The views of our guests and commentators
are their own and do not necessarily represent the views of
Community Television Foundation of South Florida, Inc. Nightly
Business Report, or WPBT. Information presented on Nightly
Business Report is not and should not be considered as investment
advice. Copyright (c) 2005 Community Television Foundation
of South Florida, Inc. ALL RIGHTS RESERVED. Terms of use.
1/17/06: "Commentary"-Law Logic
PAUL KANGAS: Tonight`s commentator says it`s time for the American courts to get
moving again with a simpler system. Here`s Daniel Henninger, deputy editor
of the editorial page of the "Wall Street Journal."
DANIEL HENNINGER, DEPUTY EDITOR, WALL STREET JOURNAL EDITORIAL PAGE:
If you watched last week`s hearings on the nomination of Sam Alito to the
Supreme Court, you saw the gap between Judge Alito`s knowledge of the law
and the senators. A frustrated Senator Biden kept asking if Judge Alito
understood what he called the problems of real people. Well, it`s true
that in some sense, the law and real people have disconnected, so much so
even U.S. senators don`t really understand constitutional law anymore.
How did this happen? Over the years, the American system of law has
become like a ship covered with barnacles. We have a litigious society.
Massive class action lawsuits over things like asbestos and Vioxx have
become more lottery than law. The law now touches areas of life never
imagined: school prayer, dress codes and the most intimate private
relationships. No surprise it`s become so complex that it seems abstract
from the real world. I think the ascension of John Roberts and no doubt
Sam Alito to the high court holds the possibility that the court will
indeed become more conservative in one very useful way.
This new court will strive to keep it simple, to be more modest about
the law`s reach into our lives. Justices Roberts and Alito will be clearer
that the law is not simply a random accumulation of rights and rules, but
has some coherent, identifiable logic -- logic evident not only to lawyers
and judges, but to the rest of us, even U.S. senators. I`m Dan Henninger.
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.
1/17/06: "Last Word"-Happy Birthday Ben Franklin
SUSIE GHARIB: And finally, today is the 300th anniversary of the birthday of
Benjamin Franklin and if you`ve already seen his house in Philadelphia, now
there`s another option. The home Franklin lived in London is opening as a
museum. He lived in the British capital between 1757 and 1775, lobbying on
behalf of American colonists. The house is located just off Trafalgar
Square and it includes an archive of Franklin`s papers and it opens to the
public on February 1. And Paul, you`ll find it interesting to note that
this was the site of many of Franklin`s scientific discoveries, including
the invention of bifocal glasses.
KANGAS: And on the anniversary of his 300th birthday, he gave us a
wonderful gift, believe me, those bifocals.
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.
1/17/06: "Paul Kangas' Stocks In The News"
PAUL KANGAS: Stocks opened broadly lower on that sharp rise in oil prices
and not helping things was an almost 3 percent tumble in Tokyo`s Nikkei
stock index, its worst day in two years. By noon, the Dow was off 74
points; NASDAQ off 18. The market stabilized this afternoon, but any
chances for a big comeback were squashed by caution ahead of those earnings
from IBM, Intel, and Yahoo! The Dow industrial average came in with a loss
of 63 1/2 points at 10,896.32. The NASDAQ Composite fell 14 1/3 points to
2302.69. Standard & Poor`s 500 down 4 2/3 points ending at 1282.93. In
the bond market, the 10-year note gained 5/32, putting the yield at 4.34
percent.
Volume leader on the big board, 32 1/2 million shares trading Tyco
(TYC) down $0.92. Two downgrades hurt the stock. Citigroup downgraded it
from "buy" to "hold" and JPMorgan from "over weight" down to "neutral."
Lucent Technology (LU) down a dime.
Pfizer (PFE) fell $0.39.
Time Warner (TWX) edging a dime higher.
ConocoPhillips (COP) in the strong oil group, up $3.53 on those higher
oil prices today. Let`s have a look at some other major oils.
Chevron (CVX) up $1.50.
Marathon(MRO) just a fractional gainer.
But Occidental Petroleum (OXY) up $2.35. The whole group was very
firm.
Boston Scientific (BSX) down $1.30. You heard the news there.
ExxonMobil (XOM) in that firm oil group, up $0.57.
Verizon (VZ) $0.70 drop.
Wal-Mart (WMT) stores fell $0.48.
And Ford Motor (F), tenth in big board volume, down $0.24.
Continental Airlines (CAL) down $2.23. That airline group of course
very weak because of the high oil prices. And they overrode some good news
for Continental, which reduced its fourth quarter loss to only $0.53 a
share from $3.16 in the negative last year. And Standard & Poor`s repeated
a "strong buy" on Continental, but it didn`t have much impact. Let`s have
some look at other airline stocks, all on the downside especially, US
Airways Group off just over $4 a share.
Advanced Micro Devices (AMD) dropping $1.27. Merrill Lynch downgraded
it from "neutral" to a "sell" recommendation.
Then we see Affiliated Computer Services (ACS) down $4.32. The talks
have ended with a private equity group that was interested in buying the
firm somewhere around $65 a share. Talks terminated.
Quanex (NX) up $5.72. The company now sees its first quarter earnings
at around $1 to $1.05 and that`s 35 percent above its previous earnings
guidance, nice move in the stock.
United States Steel (X) up $2.68, maybe a little delayed reaction from
Friday when CS First Boston brokerage upgraded it from "neutral" to "out
perform" with a $57 a share target for the price.
Dana Corp (DCN), another weak automotive stock, off $1.40 or 20 1/2
percent drop. Dana reported a third quarter loss of $1.3 billion. That
works out to $8.50 in the red and that`s versus earnings of $0.28 a share a
year ago.
Finally we see McGraw-Hill (MHP) doing well, up $2.05. Citigroup
upgraded it from "hold" to a "buy."
Google (GOOG) topped the NASDAQ actives, up $0.86. The company will
acquire dMarc Broadcasting for $102 million. dMarc is in the radio
advertising business and it may soon turn into the television advertising
business.
Apple Computer (AAPL) $0.88 drop.
Intel (INTC) $0.27 loss there.
Microsoft (MSFT) off $0.20.
Sandisk (SNDK) dropped $1.29. Citigroup downgraded Sandisk from "buy"
to "hold" on a valuation basis.
Yahoo! (YHOO) closed up $0.21, but after those disappointing after the
bell results, I saw the stock as low as $34.96 in after hours trading.
Cisco Systems (CSCO) $0.24 loss.
Rambus (RMBS) up $0.02.
Applied Materials (AMAT) $0.39 loss.
And Qualcomm (QCOM) fell $0.52.
Biocryst Pharmaceuticals (BCRX), look at that strong chart, up another
$3.37 today. The story here, the company has received fast track
designation from the FDA to get approval for its drug to treat avian flu.
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.
01/17/06:
Market Stats
NET PERCENT
CLOSE CHANGE CHANGE
DOW CLOSE 10896.32 -63.55 - .6
HIGH 10957.87
LOW 10875.60
NASDAQ COMP. 2302.69 -14.35 -.6
HIGH 2305.87
LOW 2294.05
VOLUME 1,648.6
PREVIOUS 1,569.5
UP VOLUME 532.8
DOWN VOLUME 1,101.1
DOW TRANSPORTS 4090.95 -56.15 - 1.4
DOW UTILITIES 421.29 +5.44 + 1.3
CLOSING TICK +465
S&P 500 1282.93 -4.68 - .4
S&P 100 581.80 -2.82 - .5
MIDCAP 400 763.44 -3.29 - .4
REUTERS/CRB 342.45 +5.68 + 1.7
NYSE COMPOSITE 7992.60 -33.34 - .4
VALUE LINE 425.91 -2.69 - .6
RUSSELL 2000 703.62 -4.82 - .7
DJW 5000 12896.94 -47.63 - .4
U.S. TREASURIES
5-YEAR NOTE 4.25%
Jan. 15,2011 99 29/32 +3/32 4.27
10-YEAR NOTE 4.50%
Nov. 15,2015 101 10/32 +6/32 4.33
30-YEAR NOTE 5.375%
Feb. 15, 2031 112 31/32 +10/32 4.52
LEHMAN BROS.
LONG BOND INDEX 1782.63 +4.20
DOW CLOSE 10896.32 -63.55 - .6
ADVANCES 1180
DECLINES 2205
NEW HIGHS 144
NEW LOWS 26
NET PERCENT
NYSE MOST ACTIVES 4PM CLOSE CHANGE CHANGE
TYC Tyco Intl 26.20 -.92 -3.4
LU Lucent Tech 2.55 -.10 -3.8
PFE Pfizer 24.28 -.39 -1.6
TWX Time Warner 17.37 +.10 +.6
COP ConocoPhillips 64.29 +3.53 +5.8
BSX Boston Scientific 23.90 -1.30 -5.2
XOM Exxon Mobil 61.54 +.57 +.9
VZ Verizon Comm 31.48 -.70 -2.2
WMT Wal-Mart Stores 44.92 -.48 -1.1
F Ford Motor Co 8.31 -.24 -2.8
NASDAQ CLOSE 2302.69 - 14.35 - .6
VOLUME 1,789.0
PREVIOUS 1,783.5
ADVANCES 1158
DECLINES 1917
NASDAQ ACTIVES
GOOG Google 467.11 +.86 +.2
AAPL Apple Computer 84.71 -.88 -1.0
INTC Intel 25.52 -.27 -1.1
MSFT Microsoft 26.99 -.20 -.7
SNDK SanDisk 71.54 -1.29 -1.8
YHOO Yahoo! 40.11 +.21 +.5
CSCO Cisco Systems 18.68 -.24 -1.3
RMBS Rambus 34.27 +.02 +.1
AMAT Applied Matl 19.76 -.39 -1.9
QCOM Qualcomm 48.12 -.52 -1.1
AMEX CLOSE 1813.32 - 2.14 - .1
INDEX SHARES
DIA DIAMONDS TRUST 109.03 -.54 -.5
QQQ NASDAQ 100 42.70 -.28 -.7
SPY S&P DEP.RECEIPTS 128.33 -.35 -.3
STOCKS IN THE NEWS
CVX Chevron 61.86 +1.50 +2.5
MRO Marathon Oil 71.59 +.27 +.4
OXY Occidental Petro 92.19 +2.35 +2.6
CAL Continental Air 17.24 -2.23 -11.5
AMR AMR Corp 18.86 -1.46 -7.2
LUV Southwest Air 15.87 -.50 -3.1
LCC US Airways Group 30.00 -4.05 -11.9
AMD Advanced Micro 32.86 -1.27 -3.7
ACS Affilliated Comp 56.00 -4.32 -7.2
NX Quanex 59.52 +5.72 +10.6
X US Steel 52.80 +2.68 +5.4
DCN Dana 5.40 -1.40 -20.6
MHP McGraw-Hill 50.00 +2.05 +4.3
BCRX Biocryst Pharma 22.41 +3.37 +17.7
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