Bzzz. Stun Guns On Commercial Flights!
Stocks were virtually flat in
a narrow trading range and lower volume
as traders look for the next catalyst. The fighting in Fallujah and Wednesday’s
Fed meeting are two focal points. Traders expect a 1/4 point rise this week and
another 1/4 point rise in December, as well.
Oil service stocks are down 9% from multiyear
highs, and brokers were lower after a dozen firms came under investigation
regarding trade execution quality.
EBAY was higher after JP Morgan added the stock to its Focus List and set
a $130 price target for the stock.
McDonald’s global sales rose 6% last
month–the 19th straight month of sales gains. Sales in the US rose 7.5%.
Taser
(
TASR |
Quote |
Chart |
News |
PowerRating) received government approval to use its stun guns on
some commercial airline flights. Korean Airlines is the first carrier to get the
guns after their application was approved by the Dept. of Homeland Security. Law
enforcement personnel and flight attendants will be allowed to carry the stun
guns, which sell for between $400 – $800 each.
Pfizer
(
PFE |
Quote |
Chart |
News |
PowerRating) was lower after NY
Attorney General Spitzer requested information on drug promotion.
Al Gore is in the money management
business. He started Generation Investment Management along with former Goldman
asset manager David Blood. The firm, based in London, will target pension funds
and high net-worth clients. The firm which will start managing money in
February, will also have offices in Washington and will employ 11. Minimum
investment: $3 million.Â
| Dow | +3.77 | 10391.31 |
| S&P 500 | -1.26 | 1164.89 |
| Nasdaq | +0.31 | 2039.25 |
Strong sectors were: Â Internet
(
GIN.X |
Quote |
Chart |
News |
PowerRating) +1.29%, Retail
(
RLX.X |
Quote |
Chart |
News |
PowerRating) +0.27%, Utilities
(
UTY.X |
Quote |
Chart |
News |
PowerRating)
+0.90%.
Weak sectors were: Oil
Services
(
OSX.X |
Quote |
Chart |
News |
PowerRating)
-2.94%, Brokers
(
CYC.X |
Quote |
Chart |
News |
PowerRating) -1.77%, Oil Services
(
OSX.X |
Quote |
Chart |
News |
PowerRating) -1.01%.
The dollar was +0.08 at
84.07
Gold was -2.30 at 432.30
Crude Oil was -0.59 at 49.09
1.6 billion on the Nasdaq.
Market breadth was negative.
| NYSE | Issues | |
| Advancing | 1251 | Up Vol 561 |
| Declining | 2088 | Down Vol 696 |
| Ratio | 1.66 | 1.24 |
| Nasdaq |
||
| Advancing | 1414 | Up Vol 785 |
| Declining | 1679 | Down Vol 692 |
| Ratio | 1.18 | 1.13 |
Stocks in the News
Biogen Idec
(
BIIB |
Quote |
Chart |
News |
PowerRating) reported good results on an MS drug.
Medarex
(
MEDX |
Quote |
Chart |
News |
PowerRating) formed a development and marketing pact with Bristol
Myers Squibb for a melanoma treatment.
Novell
(
NOVL |
Quote |
Chart |
News |
PowerRating) is higher after Microsoft agreed to pay $536 million to
settle antitrust claims.
U.S. Steel
(
X |
Quote |
Chart |
News |
PowerRating) was the subject of a positive article in Barron’s.
Brice Wightman