A September to remember for the Dow
Stocks rose the last day of the
quarter, with
the Dow posting its first September gain in seven years. Crude
finished at $66.24.
Energy stocks gained close to 20% for Q3. Natural
gas rose 80% in Q3 with gasoline rising 44% and crude oil, +13%.
Canada’s Supreme Court upheld the right of provinces
to sue the tobacco industry. Altria
(
MO |
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PowerRating) gained 0.06 to close at
73.71.
Google
(
GOOG |
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PowerRating) co-founder Larry Page
filed to sell 1.2 million shares, Bloomberg reported. Separately, the stock
rallied on speculation that the stock would be added to the S&P 500 at the close
of business tonight or possible Monday. GOOG rose 6.84, closing at 316.46.
Micron
(
MU |
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PowerRating)
reported a surprise profit for Q4,
beating estimates.
Machinists at Boeing
(
BA |
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News |
PowerRating) approved a
three-year contract, ending a near month-long strike. Separately, Aeroflot said
they will buy two to five Boeing 767 jets.
AMR
(
AMR |
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PowerRating) said it will temporarily cancel
15 flights from its Chicago O’Hare and Dallas DFW hubs because of the high cost
of jet fuel.
Personal income in August fell 0.1%;
personal spending fell 0.5%. The University of Michigan consumer
sentiment index was 76.9 vs. 78 consensus. The Chicago PMI was 60.5
vs 52.0 consensus.
Strong Sectors were: Airlines
(
XALI |
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PowerRating)
+2.28% Semis
(
SOX |
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News |
PowerRating)
+1.92% Disk Drives
(
DDX |
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News |
PowerRating)
+1.92%
Weak sectors were:
Oil Services
(
OSX |
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Chart |
News |
PowerRating) -2.30%
Oil
(
OIX |
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Chart |
News |
PowerRating) -1.40% Gold
(
XAU |
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Chart |
News |
PowerRating)
-1.37%
|
|
+15.84 | 10,568.62 |
| +10.47 | 2151.69 | |
| +1.14 | 1228.82 |
Stocks in the news:
VeriSign
(
VRSN |
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Chart |
News |
PowerRating) warned for Q3. The stock
was downgraded to peer perform at RBC Capital.
SafeNet
(
SFNT |
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Chart |
News |
PowerRating)
got whacked on Thursday, but after the close the company announced it got a $150
million contract from the Department of Defense.
Ceradyne
(
CRDN |
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Chart |
News |
PowerRating) received a ceramic
body armor order from the U.S. Army and Marines worth $9.1 million.
National Semiconductor
(
NSM |
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Chart |
News |
PowerRating) has an analyst meeting on Friday.
Brice Wightman