TradingMarkets
Mid-Day Movers
Stocks are trading modestly higher, boosted by earnings and merger news. Energy prices
are moving up and so to is the US Dollar Index, while treasuries are trading
slightly lower.
A number of stocks released earnings before the open;
Citigroup
(
C |
Quote |
Chart |
News |
PowerRating) announced a 35% rise in net profits on 15% revenue growth (full
story). St. Jude Medical
(
STJ |
Quote |
Chart |
News |
PowerRating) Q3 earnings beat estimates and raised its
full-year outlook. The company also announced that it has signed a definitive
agreement to acquire Advanced Neuromodulation Systems
(
ANSI |
Quote |
Chart |
News |
PowerRating) for about $1.3
billion in cash (full
story).
Krispy Kreme Doughnuts
(
KKD |
Quote |
Chart |
News |
PowerRating) revealed that its
majority-owned subsidiary and franchisee partner in the Philadelphia region,
Freedom Rings, has filed a voluntary petition for Chapter 11 bankruptcy with the
Delaware Bankruptcy Court (more).
Talks are underway between a number of parties in an attempt
to salvage what is left of Refco
(
RFX |
Quote |
Chart |
News |
PowerRating) (more).
Stocks On The Move
Despite reporting a wider-than-expected Q3 loss,
GM
(
GM |
Quote |
Chart |
News |
PowerRating) opened sharply higher on news that it has reached a tentative health
care deal with the auto workers’ union that will lead to an estimated $1 billion
in annual cash savings. GM is currently up more than 7%.
Altria
(
MO |
Quote |
Chart |
News |
PowerRating) is another significant support to
the Dow, rising by 6% on news that the U.S. Supreme Court rejected a government
appeal in its racketeering case against cigarette makers. The gains have taken
Altria to a new 52-week high.
Boeing
(
BA |
Quote |
Chart |
News |
PowerRating) and United Technologies
(
UTX |
Quote |
Chart |
News |
PowerRating)
are the most notable decliners among the blue chips, falling by 1.3% and 1.2%,
respectively.
Bio-Logic Systems
(
BLSC |
Quote |
Chart |
News |
PowerRating) is one of the
biggest percentage gainers after it agreed to be acquired by Natus Medical
(
BABY |
Quote |
Chart |
News |
PowerRating)
for $8.77 per share. The stock is currently up 46%.
Gen-Probe
(
GPRO |
Quote |
Chart |
News |
PowerRating) is among the morning’s most
notable movers to the downside on news released late Friday that the FDA has
asked for more information about its investigational PROCLEIX ULTRIO assay. The
stock is showing a loss of 8%.
Â
| Dow |
+42.03 | 10,329.37 |
| NASDAQ |
-1.50 | 2063.33 |
| S&P 500 |
+2.15 | 1188.72 |
| NYSE | NASDAQ | |
| Volume |
825,390,000 | 495,659,000 |
| Advances |
1611 | 1182 |
| Declines |
1465 | 1608 |
| Up Volume |
505 | 229 |
| Down Volume |
226 | 224 |
| New Hi’s |
18 | 37 |
| New Lo’s |
64 | 49 |
Â
|
|
Weakest Sectors |
| Gold and Silver ( XAU | Quote | Chart | News | PowerRating) |
Pharmaceutical ( DRG | Quote | Chart | News | PowerRating) |
| Gold Bugs ( HUI | Quote | Chart | News | PowerRating) |
Biotechnology ( BTK | Quote | Chart | News | PowerRating) |
| Natural Gas ( XNG | Quote | Chart | News | PowerRating) |
Health Care ( HCX | Quote | Chart | News | PowerRating) |
Ashton Dorkins