Stocks Close Green Despite Late Selloff

  • December 6, 2005
  • Brice Wightman

Stocks were green Tuesday as the S&P 500
and Nasdaq made 4 1/2 year highs intraday. The
market sold off rather rapidly in the last hour, however.
The move started in the futures pit, but no
fundamental factor was cited.

Q3 productivity rose 4.7%, more than expected; unit labor costs fell 1%.

Gold hit a 20-year high in its fourth consecutive winning session.

Money manager Louis Navellier said: “Lock and load
time. This is a seasonally strong time of year–all the money is coming into
the market. As far as economic numbers, it’s nothing less than economic
nirvana. It looks awfully good. November was great, December should be great,
January will be great and maybe we’ll go down after that.”

Archipelago shareholders vote in favor of the merger
with the NYSE.

Sears Holdings (SHLD)
reported $0.35, ex-items.

UBS raised estimates on Apple
(
AAPL |
Quote |
Chart |
News |
PowerRating)
with an $86 price target.



Strong sectors were:  Gold
(
XAU |
Quote |
Chart |
News |
PowerRating) +2.75%      Airlines 
(
XALI |
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Chart |
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PowerRating)
+2.00%      Computer Hardware [HWI||HWI] +1.36%             



Weak sectors were:   Biotech 
(
BTK |
Quote |
Chart |
News |
PowerRating)
-0.92%     Brokers 
(
XBD |
Quote |
Chart |
News |
PowerRating) -0.62%     Pharmaceuticals
(
DRG |
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News |
PowerRating)
-0.55% 


Dow

+21.13
10,856.14


Nasdaq

 +3.12 2260.76


S&P 500

+1.56 1263.65

More stocks on the move:

Dillards
(
DDS |
Quote |
Chart |
News |
PowerRating) reported 0.18 better
than the Reuters consensus.

Autozone (AZO)
missed by 0.01 but beat on revenues.

Altera (ALTR)
reaffirmed Q4 guidance of $286 – 297 million.

Sanderson Farms missed estimates.

ConAgra
(
CAG |
Quote |
Chart |
News |
PowerRating) guided lower.

Brocade (BRCD)
beat by 0.02 and beat on revenues. The company also said it will develop
software for Nortel.

Kroger (KR)
reported in-line at $0.25.

Brice Wightman


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