Giant Order For This Blue Chip
Stocks are flat as investors digested multiple earnings reports from last week.
Retail gasoline
prices rose another 2.5 cents to a national average of $1.79.
OSI Pharmaceuticals
(
OSIP |
Quote |
Chart |
News |
PowerRating) is up
100% on a positive news release of its Tarceva
drug that treats non-small
cell lung cancer. Genentech
(
DNA |
Quote |
Chart |
News |
PowerRating) is a partner with OSIP on the drug; its shares traded 12% higher for
the day.
Microsoft
(
MSFT |
Quote |
Chart |
News |
PowerRating) and JDA Software
(
JDAS |
Quote |
Chart |
News |
PowerRating) entered into a
multiyear alliance for delivering retail demand solutions.
Boeing
(
BA |
Quote |
Chart |
News |
PowerRating) gave the final go-ahead to produce its 7E7 jet and announced
that Japan’s All Nippon Airways has placed an order for 50 7E7 jets valued at
$6 billion — the single largest order in Boeing’s history. The first flight is
expected to take off in mid-2007.
Google
said that CSFB and Morgan Stanley
(
MWD |
Quote |
Chart |
News |
PowerRating) have been selected as the
lead underwriter for its multi-billion dollar IPO. Founders Larry Page and
Sergey Brin are said to own about 1/3 of the company; other investors are
venture firms Kleiner Perkins Caufield & Byers and Sequoia Capital as well as an
investment group which includes Tiger Woods.
After the
close Kindred Healthcare
(
KIND |
Quote |
Chart |
News |
PowerRating), Conexant
(
CNXT |
Quote |
Chart |
News |
PowerRating) and
Pulte Homes
(
PHM |
Quote |
Chart |
News |
PowerRating) are expected to report with EPS of 0.78, 0.03 and 0.85
respectively.
| Dow | -0.77 | 10472.32 |
| S&P 500 |
-1.22 | 1139.89 |
| Nasdaq | -4.89 | 2044.88 |
The day’s leading sectors are
BiotechsÂ
(
BTK.X |
Quote |
Chart |
News |
PowerRating) +2.30%, Gold and Silver
(
XAU.X |
Quote |
Chart |
News |
PowerRating) +1.88%,
Amex Gold Bugs
(
HUI.X |
Quote |
Chart |
News |
PowerRating) +1.73%, Internet
(
ECM.X |
Quote |
Chart |
News |
PowerRating) +1.66%,
Weak today are Healthcare
(
HMO.X |
Quote |
Chart |
News |
PowerRating)Â -2.29% Semis
(
SOX.X |
Quote |
Chart |
News |
PowerRating) -2.17%.
Economic news releases today: a
big jump in new home sales to 1.228 million.
10-year Notes are +35 at
110 250
The dollar
is -0.29 at 91.07
Gold is +1.40 at 396.50
Crude Oil is +0.44 at
36.90
Volume is 533,000,000 on
the NYSE, and 778,000,000 on the Nasdaq.
Market breadth is mixed.
| NYSE | Issues | |
| Advancing |
1467 | Up Vol 259 |
| Declining | 1675 | Down Vol 254 |
| Ratio | 1.14 | 1.01 |
| Nasdaq |
||
| Advancing |
1494 | Up Vol 336 |
| Declining |
1484 | Down Vol 400 |
| Ratio | 1.01 | 1.22 |
Top Dow stocks are:
Boeing
(
BA |
Quote |
Chart |
News |
PowerRating) +1.83% at
43.20, General Motors
(
GM |
Quote |
Chart |
News |
PowerRating) +0.76% at 49.93, SBC Communications
(
SBC |
Quote |
Chart |
News |
PowerRating) +0.83% at 25.65, JP Morgan Chase
(
JPM |
Quote |
Chart |
News |
PowerRating) +0.71% at 38.23.
Stocks in the news:
TXU Corp
(
TXU |
Quote |
Chart |
News |
PowerRating) said it sold $4.2 billion
of assets in Australia and Texas that is expected to cut is debt by 42%. The
company also plans to use $3.36 billion to pay down debt.
Computer
Associates
(
CA |
Quote |
Chart |
News |
PowerRating) named Kenneth Cron as its interim chief executive. The
company is also restating $2.2 billion in revenue that was booked prematurely.
The restatement would have no impact on its current earnings.
Nissan Motor
(
NSANY |
Quote |
Chart |
News |
PowerRating) reported
earnings that rose by 1.7% to $4.62 billion on strong sales and continued cost
cutting. Global sales volume was up 10% to 3.06 million with a 18% rise for the
US market.
First Horizon Pharmaceutical
(
FHRX |
Quote |
Chart |
News |
PowerRating)
fell after reporting earnings of $5 billion with revenue up at $32 million. FHRX
is looking to earn 13 cents with revenue of $33 million for the next quarter.
Brice Wightman
bricew@tradingmarkets.com