These 2 Stocks In Focus For The Rest Of The Year
Stocks are higher on lower
oil, with technology stocks
in particular showing strength after positive
remarks on Google. Goldman Sachs initiated coverage on Google
(
GOOG |
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PowerRating) with a $215
price target.
The FDA approved Biogen
(
BIIB |
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PowerRating) and Elan’s
(
ELN |
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PowerRating)
multiple sclerosis drug Tysabri. Trial results were strong.
Jobless claims for the week ending 11/20 fell
12000–more than expected–to 323,000;Â The 4-week moving average fell 6,750 to 332,000.
Continuinh claims fell -29,000 to
2.755 million. The University of Michigan consumer sentiment index came in at
92.8 in November vs. 91.7 in October.
Durable goods orders for October fell -0.4%. The
estimate was for a rise of 0.5%. Ex transportation, -0.7%.
The shippers are in focus for the rest of the
year. UPS
(
UPS |
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PowerRating) and Fedex
(
FDX |
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PowerRating) are beginning their
busiest season of the year. A Neilson survey said online shopping was up 60%
last week from the week before.
The EIA said crude rose 100,000 barrels; gasoline
inventories rose 1.8 million barrel.
In Moscow, trading in oil giant Yukos was halted,
with the shares down 46%.
| Dow | +10.21 | 10502.81 |
| S&P 500 | +3.56 | 1180.50 |
| Nasdaq | +14.00 | 2098.28 |
Strong sectors are: Airlines
(
XAL.X |
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Chart |
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PowerRating) +2.78%,
Intenet
(
GIN.X |
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PowerRating) +1.18%, Semis
(
SOX.X |
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News |
PowerRating) +0.96%.
Weak are: Gold
(
XAU.X |
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PowerRating)
-0.03%, Computer Tech
(
XTC.X |
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Chart |
News |
PowerRating) -0.14%.
The dollar is -0.49 at 82.48
Gold is +1.80 to 449
Crude Oil is -0.64 at 48.30
907 million on the Nasdaq.
Market breadth is positive.
| NYSE | Issues | |
| Advancing | 2233 | Up Vol 394 |
| Declining | 917 | Down Vol 170 |
| Ratio | 2.43 | 2.31 |
| Nasdaq |
||
| Advancing | 1769 | Up Vol 542 |
| Declining | 1168 | Down Vol 219 |
| Ratio | 1.51 | 2.47 |
Stocks in the News
H&R Block
(
HRB |
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PowerRating) reported a quarterly loss and guided lower.
Cray
(
CRAY |
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News |
PowerRating) received an $8 million supercomputer order. Piper
Jaffray resumed its coverage with an outperform rating.
Chicago Mercantile Exchange
(
CME |
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PowerRating) was the subject of a negative
article in Barron’s. The stock trades at twice its projected growth rate.
Express Scripts
(
ESRX |
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PowerRating) guided higher for 2005.
JP Morgan downgraded Sirius
(
SIRI |
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PowerRating) to neutral from overweight.
Analog Devices
(
ADI |
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Chart |
News |
PowerRating) beat by a penny and lowered guidance for Q1
Brice Wightman