IMCL Still In The News — Here’s The Latest
Stocks are higher with oil prices falling to $37. The indices are
currently trading at a five-week high, with the Nasdaq climbing back above
2,000. ImClone
(
IMCL |
Quote |
Chart |
News |
PowerRating) was
upgraded to ‘Buy’ at Smith Barney with a price target of $105 after news of
success in its Phase III study of its Erbitux drug. Tumors in patients with
head and neck cancer who used Erbitux along with radiation were less likely to
spread than with radiation alone.
General Motors
(
GM |
Quote |
Chart |
News |
PowerRating)
announced plans to invest over $3 billion in China as it beefs up its
production capacity by 100% in an attempt to gain market share over
Volkswagen. GM holds a 19% market share with Volkswagen commanding 33%. MGM
Mirage
(
MGG |
Quote |
Chart |
News |
PowerRating) announced an unsolicited $4.85 billion bid to acquire
Mandalay Resort Group
(
MBG |
Quote |
Chart |
News |
PowerRating).
The NYSE will be closed on
Friday in honor of former president Ronald Reagan.
| Dow | +92.83 | 10337.52 |
| S&P 500 | +11.37 | 1133.55 |
| Nasdaq | +23.85 | 2001.66 |
Strong today are
Networking
(
NWX.X |
Quote |
Chart |
News |
PowerRating) +2.28%. Semis
(
SOX.X |
Quote |
Chart |
News |
PowerRating) +2.06%, Oil
Services
(
OSX.X |
Quote |
Chart |
News |
PowerRating) +1.70%, Disk Drives
(
DDX.X |
Quote |
Chart |
News |
PowerRating) +1.53%
Weak today is BiotechsÂ
(
BTK.X |
Quote |
Chart |
News |
PowerRating) -0.40%.
No Economic news releases
today.
10-year Notes are -15
at 109 000
The dollar
is -0.33 at 88.26
Gold is +2.60 at
393.50
Crude Oil is -0.12 at
38.37
Volume is 500,000
million on the NYSE, and 650,000 million on the Nasdaq.
Market breadth is
positive.
| NYSE | Issues | |
| Advancing | 2395 | Up Vol 421 |
| Declining | 725 | Down Vol 65 |
| Ratio | 3.30 | 3.61 |
| Nasdaq |
||
| Advancing | 1983 | Up Vol 511 |
| Declining | 967 | Down Vol 128 |
| Ratio | 2.05 | 4.38 |
Top Dow stocks are:
Boeing
(
BA |
Quote |
Chart |
News |
PowerRating) +2.63%,
Caterpillar
(
CAT |
Quote |
Chart |
News |
PowerRating) +1.98%, JP Morgan Chase
(
JPM |
Quote |
Chart |
News |
PowerRating) +1.61%,
Altria
(
MO |
Quote |
Chart |
News |
PowerRating), +1.59%
Stocks in the
news:
Genta
(
GNTA |
Quote |
Chart |
News |
PowerRating)
said its Phase 3 trial of its Genasense treatment failed to achieve a
statistically increase in survival rates among patients.
McDonald’s
(
MCD |
Quote |
Chart |
News |
PowerRating)
reported worldwide same-store sales that rose 7.4% with 7.9% domestically. The
increase was the 14th straight monthly gain. For 2005, the company affirmed
revenue growth target of 4%.
DaimlerChrysler
(
DCX |
Quote |
Chart |
News |
PowerRating) said it
was investing $113 million in its St. Louis assembly plant to boost
productions of its minivans.
Brice Wightman
bricew@tradingmarkets.com