01/25/06: Boston Scientific Wins The Guidant Bidding War
SUSIE GHARIB: The bidding war for medical device
maker Guidant is finally over and Boston Scientific is the winner. Guidant
said today it has accepted the $27 billion cash and stock offer from Boston
Scientific, walking away from a lower bid from Johnson & Johnson. Scott
Gurvey takes a closer look at the deal and why it took so long to reach an
agreement.
SCOTT GURVEY, NIGHTLY BUSINESS REPORT CORRESPONDENT: For eight weeks,
Guidant was the bride with two suitors willing to duel for its charms. In
the end, Boston Scientific was the bidder left standing. Guidant makes
medical devices, including heart and cardiovascular devices such as
implantable defibrillators and coronary stents. The heart rhythm device
market currently totals $10 billion a year in sales. Boston Scientific
wants Guidant products to diversify its own stent business, but so too did
Johnson & Johnson, which has seen its medical devices segment provide an
increasing amount of its overall growth in recent years. J&J made the
initial bid for Guidant, valued at $25 billion. The winning Boston
Scientific bid is valued at $27 billion, making it the largest deal ever
for a medical device company. Guidant shareholders will get $42 in cash
and $38 in stock for each share they own.
ROBERT FAULKNER, MEDICAL DEVICES ANALYST, JMP SECURITIES: I think the
combined company can do very well. It`s a reasonably high-risk profile
compared to many companies in this space because there`s a large debt load.
But the cash flows appear to be reliable and appear to be able to pay down
that debt over time.
GURVEY: Johnson & Johnson will collect $705 million as a break-up fee
in this deal. But with growth rates for its more traditional products
slowing, analysts expect J&J to look to further expand its medical devices
business, either through acquisition or increased product development.
Saint Jude Medical may be J&J`s next target. Some questioned the price
Boston Scientific paid, but the Natick, Massachusetts-based company made a
deal with Abbott Labs to help it up the ante. Abbott will get Guidant`s
stent business if the deal is approved.
JOANNE WUENSCH, MEDICAL DEVICES ANALYST, HARRIS NESBITT: I don`t
think they paid too much. We figure that they could probably get about
$77, $78 on their own and with Abbott coming in as their bank roller, 80
bucks seems to be a comfortable number where they can meet their debt
payment, they`re still investment-grade and they can build.
GURVEY: The deal still needs the approval of shareholders and
antitrust regulators in the United States and Europe. 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.
01/25/06: Bracing For Ben Bernanke
SUSIE GHARIB: A week from today the Federal Reserve will have a new
chairman, Ben Bernanke. How will the Bernanke Fed be different from the
Greenspan Fed? Joining us now with his thoughts, Robert Frank, professor of
economics at Cornell University and Ben Bernanke`s co-author of the college
text book, "Principles of Economics." Professor Frank, thank you for joining us.
ROBERT FRANK, PROFESSOR OF ECONOMICS, CORNELL UNIVERSITY: Nice to
be with you Susie.
GHARIB: There are many economists who I`ve spoken with who have
said that a Bernanke Fed really won`t be that much different than a
Greenspan Fed. Do you really believe that?
FRANK: I think we can look forward to a really smooth transition. I
think like Alan Greenspan, Ben Bernanke knows that the main short-run task
of the new Fed chairman will be the key markets, reassure that the Fed`s
job is to keep prices stable and I think his whole history suggests that
he`s very committed to that goal and I think the market in its response to
the nomination announcement signaled that they took that as face value.
Yes, I think it will be a very smooth transition.
GHARIB: Now you worked with Ben Bernanke as you mentioned. You co-
authored a textbook with him. For over those many years that you worked
with him, how would you describe his style of working? How would you
describe it?
FRANK: Well, he is just an unusually confident person that comes
through right away. But I think the main thing that distinguishes him in a
post like this is that he is probably the best consensus builder I have
ever come across in academic life. He was the chairman of the department
of Princeton for some years and you almost never hear people
enthusiastically comment about their department chairman in academia. Yet,
whenever people hear I was working on a book project with Ben, friends at
Princeton, the first thing out of their mouths would be what a fabulous
chairman he has been. He is non-confrontational. He is very smart. He
will be the best informed, the most deeply knowledgeable Fed chairman
probably we have ever had and I think he will be a very strong leader in
that post.
GHARIB: Now he says that he will be, he is going to try to make the
Fed more open. What do you think he means by that?
FRANK: I think a lot of people think of Alan Greenspan as an opaque
person. I don`t think he was deliberately opaque. I think he tried to
improve the Fed`s transparency, tried to signal to markets what policy
would be. Maybe it`s just that his personal style of communication struck
people as opaque. Ben is formally committed to a policy of transparency.
He is a very clear communicator. I think that`s going to be obvious to
people once they start listening to him.
GHARIB: In that spirit, he has said that he favors setting a target
range for inflation. Do you think he will follow through on that?
FRANK: Yes, I think central banks all over the world do inflation
targeting, as it`s called, in effect. That has not been the formerly
articulated policy of the U.S., although that`s in effect what we have been
doing, too. He will, I think, announce a range of inflation as a target
and will, I think, look to make that quite clear to market that he intends
to shoot for it, not necessarily week by week or month to month, but as a
long-run average target.
GHARIB: Now we saw that Alan Greenspan spoke widely on non-monetary
policy issues, like tax cuts and budget deficits and things like that. Can
we expect that same kind of openness from Ben Bernanke?
FRANK: Well, obviously, the Fed`s mandate does include trying to keep
the economy on a stable keel. When the budgets get out of balance, when
debt piles up, we now have a very large overhang of borrowing from abroad,
a very large debt addition to our national debt each year. That creates a
lot of potential for economic instability. And so I would imagine that Ben
would speak out in favor of general steps to reduce that overhang. I
absolutely do not expect Ben Bernanke to speak out on specific details of
fiscal policy. The outgoing chairman endorsed specific tax cuts for
specific people, recommended cutting Social Security payments as a way of
financing tax cuts. I don`t think we`ll see anything at all like that
coming from Ben Bernanke.
GHARIB: We`ll see very soon and we thank you very much for coming on
our program.
FRANK: My pleasure.
GHARIB: We`ve been speaking with Robert Frank, professor of economics
at Cornell University.
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.
01/25/06: The Abramoff Scandal
Is Taking More Fun Out of Political Fundraising
JEFF YASTINE: The investigation of Washington lobbyist Jack Abramoff has
both Democrat and Republican lawmakers calling for tighter lobbying rules.
Today, some members of the Senate urged their colleagues to take an even
broader look at ethics in Washington. Darren Gersh reports.
DARREN GERSH, NIGHTLY BUSINESS REPORT CORRESPONDENT: Some senators
used today`s hearing to complain about the system of money and politics
that rules Washington. The use of corporate jets, the dinners with
lobbyists -- critics say they`re all tied to the rising costs of running
for office.
SEN. RICHARD DURBIN (D) ILLINOIS: Why is it that we warm up to all
these lobbyists? It isn`t for a meal at night. Heck, at night, I want to
sit down, put my feet up and watch TV. I don`t want to go out to some
restaurant. Most of us are pretty tired at the end of the day, but we know
when it comes time to finance our campaigns, we`re going to be knocking on
those same doors.
GERSH: The link between fundraising and lobbying is a bipartisan
lament.
SEN. GEORGE VOINOVICH (R) OHIO: It`s out of control. We all hate it
and it`s about time we collectively think about how we can get off the
treadmill that has given rise to the Abramoff abuses of the system.
GERSH: Arizona Senator John McCain argues money and lobbying becomes
even more dangerous when they`re tied to congressional earmarks. Those are
projects members insert into spending bills, often without a public
hearing.
SEN. JOHN MCCAIN (R) ARIZONA: And if we don`t stop the earmarking,
we`re not going to stop the abuses of power here in Washington, because we
have seen of a specific case of one congressman and one lobbyist were able
to put millions and millions of dollars of taxpayer money into a defense
appropriations bill somehow without any oversight or any accountability.
GERSH: But Wisconsin Senator Russell Feingold warned all the public
hand-wringing over fundraising and earmarks should not become an excuse to
derail targeted lobbying reforms.
SEN. RUSSELL FEINGOLD (D) WISCONSIN: The key here is that this should
not be an either-or proposition. Don`t let anyone tell you that if you
deal with the earmarks, you can let those other practices continue. I
don`t believe that.
GERSH: But ending the free lobbyist lunch won`t be easy. Lobbyists
could still buy lawmakers a nice meal at a famous Washington restaurant
provided they bring along some campaign funds.
JOHN ENGLER, PRESIDENT, NATIONAL ASSOCIATION OF MANUFACTURERS: I
think there is something absurd where, if I give you a check, we can have a
meal together. But if I don`t give you check, we can`t or if we do, then
you pay for your meal and I pay for mine.
GERSH: It looks like lawmakers will pass a ban this year on gifts,
meals and travel paid for by lobbyists. But unless the campaign finance
laws also change, experts say the ban will have little impact on how
business is done 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.
01/25/06: Energy Efficiency
Is A Hot Buy In The Heating & Cooling Business
SUSIE GHARIB: The oil and natural gas industry isn`t alone in
making money on higher fuel costs. So is the heating and air conditioning
industry. As Diane Eastabrook reports, the companies that sell everything
from heat pumps to air conditioners are cashing in on fuel efficient
technologies.
DIANE EASTABROOK, NIGHTLY BUSINESS REPORT CORRESPONDENT: At the
Radiant house, an old concept is getting new attention. Radiant technology
heats and cools floors through tubing which is heated and cooled primarily
with water. Ancient Romans developed the concept. Now, energy-conscious
Americans are embracing it.
RICH MCNALLY, SALES MANAGER, WATTS RADIANT: A convection system
hot air or base board. You`re heating air to a great degree. It`s going
to become buoyant and rise to the ceiling. So, given that most of us live
on the floor, that leaves the coldest air in the room around your feet or
around you on the floor.
EASTABROOK: The heating and air conditioning industry normally
doesn`t get much attention, but with rising fuel costs, that is changing.
Many of the 2,000 companies at this Chicago expo say consumers and
businesses are spending more on products that will help cut energy costs.
Now I am lowering the set-back temperature.
EASTABROOK: Some options are relatively inexpensive. For around
$100, digital thermostats can be programmed to automatically raise and
lower heat or air conditioning at the same time each day.
THOMAS BETTCHER, PRESIDENT & CEO, EMERSON CLIMATE TECHNOLOGIES:
Being able to set back saves 10 percent. These new units have a better
algorithm, so they recover more effectively to the right temperature that
you set and they are easier to program.
EASTABROOK: Solar technology is a more expensive option. These
lighter and flexible solar gel panels are for commercial buildings. The
company that makes them says the rooftop panels can generate electricity in
almost any light condition.
PHIL WIRDZEK, CONSULTANT, SOLAR INTEGRATED TECHNOLOGIES: This
product will begin generating at sunup and it will generate through a
cloudy day. It will generate through to sundown. It will not generate at
its peak performance during those periods, but it is giving you
electricity.
EASTABROOK: Washington is behind some of the new technologies at
the show. This week, a new Federal regulation took effect requiring all
new air conditioners to be about 30 percent more fuel efficient than
previous models. Lennox International`s new units are more costly than its
old ones, but the company says in warmer areas of the country, the units
could pay for themselves relatively quickly.
MIKE MILES, COOLING PRODUCT MANAGER, LENNOX INTERNATIONAL: In
Houston or Dallas and in the southern area, they`re going to have a
substantial savings and efficiency. It could easily pay back their energy
bill over five years.
EASTABROOK: Many companies here say sales of energy efficient
products are up 8 to 10 percent over previous years and they think those
products will remain hot sellers for the foreseeable future. Diane
Eastabrook, NIGHTLY BUSINESS REPORT, Chicago.
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.
01/25/06: "Money File"-Paying
For College 101
SUSIE GHARIB: In tonight`s "money file," it`s better to tell your kids sooner
rather than later about their roll in paying for a college education.
Here`s Chuck Jaffe, senior columnist for "Marketwatch."
CHUCK JAFFE, SENIOR COLUMNIST, MARKETWATCH: The "Next Step"
magazine recently published a poll showing that one-third of parents have
not saved any money to pay for their children`s college education. More
than half of the parents polled insist that their children will share the
financial burden of education. The question that was not asked: how many
parents shared those college-funding plans with their children?
Paying for a child`s education is a personal parenting decision
based on each family`s specific circumstances. The top dog at "Next Step"
noted that many families are behind in saving not because they don`t want
to fund education, but because they`re living paycheck-to-paycheck. No
matter the situation, kids who are expected to contribute to college costs
should get that news early, like at age eight or nine. Kids don`t
necessarily have the ability to amass a college nest egg by socking away
the money they get babysitting or bagging groceries, but the sooner they
learn of the burden they face, the better they can prepare for it.
Whether that means taking on a job, pursuing financial aid,
applying for grants or more. A child just starting in the band, for
instance, can ask the music instructor which instruments have the best
scholarship potential. A high school-aged child can research grants and
special funds and can factor finances into their selection process from the
very beginning. No matter how much education a parent pays for, no one
wants a child`s lingering memory of college to be paying off the bills.
Sharing the family financial plan early gives your children the best
possible head start on their first grown-up financial obligation. I`m
Chuck Jaffe.
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.
01/25/06: "Paul Kangas' Stocks In The News"
JEFF YASTINE: It looks like the cool down in the housing market is here
to stay as sales of previously owned homes declined for the third straight
month. The National Association of Realtors said today that existing home
sales fell 5.7 percent in December to a 6.6 million annual rate. That was
a steeper decline than analysts had expected. But overall sales of
previously owned homes finished 2005 at an all-time high, rising 4.2
percent for the year to over seven million existing home sales.
And those existing home sales data pressured stocks in a day of
choppy trading on Wall Street. The early moves were to the upside. The Dow
gaining on the back of General Motors shares, which notched a 3.5 percent
gain and a rebound today. Those weak existing home sales numbers and a
spike in long-term interest rates contributed to selling though. The Dow
falling 2 and nearly 2 1/2 points to close at 10,709. with the NASDAQ
dropping 4.60 points to end the day at 2,260 and the S&P falling a little
over 2 points to 1,264. And the bond market falling sharply as long-term
rates rose to their highest level in nearly five weeks. The 10-year note
falling 23/32 to 100 4/32 and the yield now at 4.48 percent.
And starting things off today, General Electric (GE) losing $0.20. The
stock approaching its lowest point since early October of last year. It`s
fallen sharply since reporting earnings last week.
Corning (GLW) rising more than $1. The shares fell early, but later
rebounded. But some investors disappointed the company didn`t raise its
profit forecasts of LCD screens which Corning makes are selling so much as
parts of high end TVs and monitors.
Disney (DIS) dropping $0.55. Buy the rumor, sell the news. In the
wake of the deal to buy Pixar, Deutsche Bank lowering its price target on
Disney because of the Pixar deal`s dilution to Disney stock. Pixar shares
rising a fraction.
Lucent Technology (LU) falling just a penny.
And EMC Corp (EMC) gaining $0.21.
Ford Motor Co (F) had a similar gain and suddenly the auto makers are
hot again, the stocks are anyway. DaimlerChrysler shares were up as well
today.
And there`s the reaction to our earlier story, Johnson & Johnson
(JNJ) losing $0.86. The company deciding not to raise its final price for
Guidant. The shares falling to the lowest price in more than a year.
Pfizer (PFE) tacking on $0.24.
ExxonMobil (XOM) losing $0.75. Oil prices slipped below $66 a barrel
today. The Dow component did raise its quarterly dividend though by $0.03
to $0.32 a share.
And then there`s McDonald`s (MCD) which lost $0.69, but after the
close of trading and very late today, McDonald`s announced the pricing of
its IPO spin off of its Chipotle grill unit. Those are priced at $22 a
share.
General Motors (GM) rising $0.80 or nearly 3 1/2 percent, again part
of what was driving the Dow for at least part of today. Kirk Kerkorian`s
Tracinda Corporation upping its bet that GM is a turnaround story. The
group purchased another 12 million shares and owns almost 10 percent of the
company now.
Now on to the homebuilders, where Centex (CTX) lost over $2. Centex
recorded a 30 percent jump in third quarter profits but executives
acknowledge some weakness and a few frothy housing markets around the
country, but they still believe they can deliver record gains, profit gains
in the future.
Running down some of the others, Beazer Homes (BZN) and Lennar (LEN)
both dropping sharply and partly due to a 5.7 percent drop in existing home
sales today.
But then Ryland Group (RYL) dropping nearly $5. It posted a 50 percent
jump in profits, but said the number of new orders in the quarter fell
almost 5 percent from year ago levels.
Conocophillips (COP) seeing red, falling $0.94. Fourth quarter profits
$0.04 above estimates, but it didn`t help with oil prices sliding today.
And then we have Bristol-Myers Squibb (BMY) picking up $0.64. Fourth
quarter profits more than tripled thanks to a lower tax rate.
And then Abbott Labs (ABT), also higher. Boston Scientific, now that
it`s hooking up with Guidant, well, Abbott Labs can go through with a
previously announced deal to buy Guidant`s vascular assets which should
help Abbott`s growth in coming years.
Then on to another medical device maker, St. Jude Medical (STJ) down
$3.27. Earnings just up a fraction because of acquisition costs for some
deals the company did last year. Some analysts think Johnson & Johnson may
make a run at St. Jude Medical since they lost out on the Guidant bid.
Norfolk Southern (NSC) rising nearly $2, also with big profits of
$0.87 a share.
And then a truck firm, CNF (CNF) missing forecast management with a
weaker than expected forecast.
Over at the NASDAQ, Google (GOOG) down more than $10.
Apple Computer (AAPL) sliding nearly $2.
Intel (INTC) down a fraction.
Sandisk (SNDK) dropping nearly or more than $4.
And Microsoft (MSFT) up just a fraction.
And then we see Oracle (ORCL) rising $0.31.
Cisco Systems (CSCO) up by not quite a similar amount.
Yahoo! (YHOO), Qualcomm (QCOM) and Dell (DELL) all losers for today.
Here`s the stand out, Silicon Labs (SLAB) soaring almost $4 or over
$7. The computer chip developer with better than expected profits $0.04
above estimates thanks to strong sales of handheld devices.
And then we have Netflix (NFLX) which jumped nearly $4. Over one
quarter, nearly one quarter of its shares are held by short sellers. The
company posted a big gain of fourth quarter profits. Those shorts had to
run for cover and force more upside gains in the stock.
Finally CheckFree (CKFR) which gained more than $7. It posted higher
quarterly profits which were more than 1 1/2 times what it earned in the
year ago period, so not too bad for CheckFree.
Those are our 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.
01/25/06:
Market Stats
NET PERCENT
CLOSE CHANGE CHANGE
DOW CLOSE 10709.74 -2.48 - .0
HIGH 10760.57
LOW 10672.60
NASDAQ COMP. 2260.65 -4.60 -.2
HIGH 2275.30
LOW 2253.06
VOLUME 1,925.7
PREVIOUS 1,883.9
UP VOLUME 870.1
DOWN VOLUME 1,043.9
DOW TRANSPORTS 4240.81 -34.21 - .8
DOW UTILITIES 418.62 -6.40 - 1.5
CLOSING TICK +899
S&P 500 1264.68 -2.18 - .2
S&P 100 572.56 +.04 + .0
MIDCAP 400 762.96 -4.99 - .7
REUTERS/CRB 342.52 -1.20 - .4
NYSE COMPOSITE 7969.49 -3.53 - .0
VALUE LINE 428.78 -.41 - .1
RUSSELL 2000 716.45 -1.57 - .2
DJW 5000 12772.31 -29.61 - .2
U.S. TREASURIES
5-YEAR NOTE 4.25%
Jan. 15,2011 99 9/32 -13/32 4.41
10-YEAR NOTE 4.50%
Nov. 15,2015 100 4/32 -23/32 4.48
30-YEAR NOTE 5.375%
Feb. 15, 2031 110 17/32 -1 11/32 4.66
LEHMAN BROS.
LONG BOND INDEX 1758.79 -15.91
DOW CLOSE 10709.74 -2.48 - .0
ADVANCES 1556
DECLINES 1832
NEW HIGHS 234
NEW LOWS 40
NET PERCENT
NYSE MOST ACTIVES 4PM CLOSE CHANGE CHANGE
GE General Electric 32.76 -.20 -.6
GLW Corning 25.39 +1.14 +4.7
DIS Disney 25.44 -.55 -2.1
LU Lucent Tech 2.52 -.01 -.4
EMC EMC Corp 13.86 +.21 +1.5
F Ford Motor Co 8.62 +.22 +2.6
JNJ Johnson&Johnson 58.50 -.86 -1.5
PFE Pfizer 24.83 +.24 +1.0
XOM Exxon Mobil 60.21 -.75 -1.2
MCD McDonald 35.16 -.69 -1.9
NASDAQ CLOSE 2260.65 - 4.60 - .2
VOLUME 2,252.3
PREVIOUS 2,138.0
ADVANCES 1376
DECLINES 1658
NASDAQ ACTIVES
GOOG Google 433.00 -10.03 -2.3
AAPL Apple Computer 74.20 -1.84 -2.4
INTC Intel 21.21 -.07 -.3
SNDK SanDisk 70.35 -4.12 -5.5
MSFT Microsoft 26.40 +.12 +.5
ORCL Oracle 12.51 +.31 +2.5
CSCO Cisco Systems 18.57 +.24 +1.3
YHOO Yahoo! 34.49 -.38 -1.1
QCOM Qualcomm 47.58 -.49 -1.0
DELL Dell 29.46 -.44 -1.5
AMEX CLOSE 1825.85 - .98 - .1
INDEX SHARES
DIA DIAMONDS TRUST 107.20 +.22 +.2
QQQ NASDAQ 100 41.26 -.18 -.4
SPY S&P DEP.RECEIPTS 126.66 +.11 +.1
STOCKS IN THE NEWS
GM General Motors 23.85 +.80 +3.5
CTX Centex 70.78 -2.51 -3.4
BZH Beazer Homes 72.96 -1.39 -1.9
LEN Lennar 61.45 -1.49 -2.4
RYL Ryland Group 70.35 -4.82 -6.4
COP ConocoPhillips 63.54 -.94 -1.5
BMY Bristol Myers Sq 21.97 +.64 +3.0
ABT Abbott Labs 42.17 +2.11 +5.3
STJ St Jude Medical 50.03 -3.27 -6.1
NSC Norfolk Southern 47.64 +1.84 +4.0
CNF CNF Inc 50.51 -5.41 -9.7
SLAB Silicon Labs 49.04 +7.50 +18.1
NFLX Netflix 28.59 +3.85 +15.6
CKFR Checkfree 51.79 +7.37 +16.6
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