Market Applauds New Fed Appointee
Stocks rallied Monday on lower
oil, good earnings and a new Fed chairman.
Merck
(
MRK |
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Chart |
News |
PowerRating) beat by 0.03, ex-items.
President Bush named Ben Bernanke
as successor to Alan Greenspan, who retires in January. Bernanke is chief White
House economist and a former Fed governor.
Cendant
(
CD |
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Chart |
News |
PowerRating) said it will split the company into four
separate companies by 2006.
Kimberly Clark
(
KMB |
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PowerRating) was in-line, and guided Q4 lower.
Strong sectors were: Natural Gas
(
XNG |
Quote |
Chart |
News |
PowerRating)
+3.55% Oil Services
(
OSX |
Quote |
Chart |
News |
PowerRating) +3.22%
Brokers
(
XBD |
Quote |
Chart |
News |
PowerRating) +3.03%
Weak sectors were:
No red sectors
|
|
+169.78 | 10,385.00 |
| +33.62 | 2115.83 | |
| +19.80 | 1199.39 |
More stocks on the move:
Schering Plough
(
SGP |
Quote |
Chart |
News |
PowerRating) reported 0.03, including an 0.08
charge and a 0.03 tax benefit.
Teva Pharmaceuticals
(
TEVA |
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Chart |
News |
PowerRating) received a favorable court ruling regarding exclusivity on generic pravachol.
Diagnostic Products
(
DP |
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Chart |
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PowerRating) missed by 0.08.
Biovail
(
BVF |
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Chart |
News |
PowerRating) was upgraded at Merrill Lynch, to buy.
Brice Wightman