DNA Halted. Here’s The Story, And The Other Stocks Involved
Stocks are lower Monday after
WalMart gave a weaker-than-expected Black Friday sales report.
Wal Mart
(
WMT |
Quote |
Chart |
News |
PowerRating) cut its November sales forecast, saying sales in the
week ended Black Friday did not meet expectations.
Genentech
(
DNA |
Quote |
Chart |
News |
PowerRating) was halted earlier in
the day. Its Avastin was shown to extend survival in colorectal cancer. The
stock gapped up upon re-opening and is trading at 50, up 1.14. Protein Design
Labs
(
PDLI |
Quote |
Chart |
News |
PowerRating), which receives royalties on Avastin from Genetech, rose.
Imclone
(
IMCL |
Quote |
Chart |
News |
PowerRating) fell on the news.
Microsoft
(
MSFT |
Quote |
Chart |
News |
PowerRating) will distribute its
special $3/share dividend on Thursday; $33 billion will be distributed–$10
billion to individuals and $22..6 to institutions.
Making new highs today include: the Russell 2000,
Mid-Cap Index, Transports and Utilities.
| Dow | -88.08 | 10434.15 |
| S&P 500 | -8.13 | 1174.52 |
| Nasdaq | -7.08 | 2094.89 |
Strong sectors are: Gold
(
XAU.X |
Quote |
Chart |
News |
PowerRating)
+0.77%, Telecom
(
XTC.X |
Quote |
Chart |
News |
PowerRating) +0.26%.
Weak are: Oil Services
(
OSX.X |
Quote |
Chart |
News |
PowerRating)
-1.86%, Natural Gas
(
XNG.X |
Quote |
Chart |
News |
PowerRating) -1.75%, Retail
(
RLX.X |
Quote |
Chart |
News |
PowerRating)
-1.32%.
The dollar is +0.08 at 81.96
Gold is +4.10 to 454.30
Crude Oil is +0.16 at 49.60
billion on the Nasdaq.
Market breadth is negative.
| NYSE | Issues | |
| Advancing | 1088 | Up Vol 205 |
| Declining | 2167 | Down Vol 438 |
| Ratio | 1.99 | 2.13 |
| Nasdaq |
||
| Advancing | 1329 | Up Vol 369 |
| Declining | 1658 | Down Vol 600 |
| Ratio | 1.24 | 1.69 |
Stocks in the News.
Nike
(
NKE |
Quote |
Chart |
News |
PowerRating) was the subject of a positive article in Barron’s.
Apple Computer’s
(
AAPL |
Quote |
Chart |
News |
PowerRating) price target was raised at Merrill Lynch,
to $78.
Forest Labs’
(
FRX |
Quote |
Chart |
News |
PowerRating) pain medication Combunox was approved by the
FDA.
Electronic Data Systems
(
EDS |
Quote |
Chart |
News |
PowerRating) received at 10-year, $382 million
contract from the government of British Columbia.
Gateway
(
GTW |
Quote |
Chart |
News |
PowerRating) was the subject of a positive article in Barron’s
which gave a $7 price target.
Brice Wightman