Stocks Drift Lower

  • September 28, 2007
  • TradingMarkets Editors

Stocks are modestly lower on Friday, despite some positive economic data.

In deal news,  3Com
(
COMS |
Quote |
Chart |
News |
PowerRating) agreed to be acquired by Bain
Capital for about $2.2 billion.

Alcatel-Lucent
(
ALU |
Quote |
Chart |
News |
PowerRating) is rising on reports that Patricia Russo, the
company CEO, is under pressure to present a restructuring plan.

The U.S. dollar sunk to a fresh record low versus the euro (read
more), with a number of commodities benefiting from the Greenback’s
weakness.

Crude oil climbed to a new record high, above $83 per barrel and Gold is
trading at its highest level since 1980.



Stocks in the News

CKX
(
CKXE |
Quote |
Chart |
News |
PowerRating) Agrees to Revised Buyout Offer from 19X (read
more).

Par Pharmaceutical
(
PRX |
Quote |
Chart |
News |
PowerRating) Guides FY07 Below Consensus,
Expands Share Buyback (read
more).

For more stories as they happen, go to our
Breaking News section.


Market Snapshot

Dow

 -19.83 13893.11

NASDAQ

 -6.07 2703.52

S&P 500

 -4.05 1527.33

NYSE NASDAQ

Volume

 522,748,190 912,617,968

Up Volume

 210,959,890 420,418,464

Down Volume

 305,180,700 472,328,428

Advances

 1404 1158

Declines

 1771 1658

New Highs

 159 87

New Lows

 28 48


Strongest/Weakest Industry Groups

Strongest Industries

Weakest Industries
Basic Materials
Wholesale		 Toy &
Hobby Stores

Nonmetallic Mineral Mining
Manufactured Housing
Gold
Printed Circuit Boards





Economic
News

Personal Income (Aug): Actual
0.3%, Consensus 0.4%

Personal Spending (Aug): Actual 0.6%, Consensus 0.4%

Construction Spending (Aug): Actual 0.2%, Consensus -0.2%