11,000? Not Today…

Stocks were mixed, with the Nasdaq outperforming
today. The Dow came within striking distance of 11,000, but closed
lower. It was all about technology, with the Nasdaq up almost 20.  The
5-year anniversary of the Nasdaq high is this Thursday. M&A continues,
reflecting more confidence in the boardroom.

Boeing
(
BA |
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PowerRating) ousted CEO Harry Stonecipher because of a relationship with a
female employee.

Capital One
(
COF |
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PowerRating) is buying Hibernia in a cash and stock deal worth
$5 billion

BAE Systems is buying United Defense
(
UDI |
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PowerRating) for $75/share.
UDI makes the Bradley vehicle.

Stocks in the News

Research in Motion
(
RIMM |
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PowerRating) was downgraded at Piper

Qualcomm
(
QCOM |
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PowerRating) said Q2 revenues would be lower. The stock is
trading down pre-open.

Cell Theraputics’
(
CTIC |
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PowerRating) lung cancer drug did not work better
than standard chemotherapy..

Cisco
(
CSCO |
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PowerRating) was the subject of a positive article in Barron’s.

Geron Corp.
(
GERN |
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PowerRating) said its HIV drug showed effectiveness.

Celgene
(
CELG |
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PowerRating) said its Revlimid showed promise.