New SEC Investigation, Plus, This ETF Is Hot

October existing home sales fell -0.1% to 6.75 million units, less than
expected.

Heinz
(
HNZ |
Quote |
Chart |
News |
PowerRating) missed by 0.03, although it did post a higher
quarterly profit. The company said earnings for the year would be at the low end
of estimates.

Hewlett Packard
(
HPQ |
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News |
PowerRating) said planned job cuts in 2005 would cost
$200 million–about 4 cents per share.

Deere
(
DE |
Quote |
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News |
PowerRating) reported $1.41 vs. estimates ranging from 0.69 -1.11;
revenues rose 32%.

Gold is at a 16-year high. The new gold ETF, StreetTRACKS Gold
(
GLD |
Quote |
Chart |
News |
PowerRating)
has seen inflows of  $1.3 billion in its first 3 days of trading—$419
million in new money on Monday alone.

AIG said it was near a deal with regulators on PNC Financial and
Brightpoint.

Time Warner
(
TWX |
Quote |
Chart |
News |
PowerRating) will pay $750 million to settle accounting
irregularities at its AOL unit.

The SEC and NASD will begin an inquiry into broker gifts to mutual fund execs
to influence business. Alleged gifts include Super Bowl tickets, wine and
vacations. The current limit on gifts and gratuities is $100.

For Q3, the NYSE had a $1.6 million loss; revenues rose 0.6% but
expenses rose 0.8%, primarily due to legal costs associated with former chief
Richard Grasso.

The Euro hit another record against the dollar, which has analysts wondering
about the potential impact on overseas travel. A room at the Paris Marriot goes
for $405.20 per night; a year ago it was $260.50.

CBS anchor Dan Rather will step down in March, but will stay on as
correspondent.

TiVo (TIVO)
reported a wider Q3 loss of (0.33), better than expectations for a loss of
(0.44). Revenue was $38 million, down 11%. The company added 419,000 new
subscribers in the third quarter.

Computer Associates
(
CA |
Quote |
Chart |
News |
PowerRating) named IBM software head John Swainson as
CEO, replacing Kenneth Kron.

Wachovia reduced Express Scripts
(
ESRX |
Quote |
Chart |
News |
PowerRating) to underperform.

YUM Brands
(
YUM |
Quote |
Chart |
News |
PowerRating) was added to the Focus List at Morgan Stanley.
The broker said that YUM is a good China play.

Bank of America upgraded Abercrombie & Fitch
(
ANF |
Quote |
Chart |
News |
PowerRating) to buy from
neutral.

Lehman lowered Bed Bath and Beyond
(
BBBY |
Quote |
Chart |
News |
PowerRating).

Texas Utilities
(
TXU |
Quote |
Chart |
News |
PowerRating) will repurchase 52.5 million shares and will
issue debt to raise cash.

 

This day in history…

1899 first jukebox

1936 Life magazine debuted

1963 Lyndon B. Johnson took office following JFK assassination

Brice Wightman