Look At This Price Target On Google
Stocks were higher with
technology stocks
in particular showing strength after positive
remarks on Google. Goldman Sachs initiated coverage on Google
(
GOOG |
Quote |
Chart |
News |
PowerRating) with a $215
price target.
The FDA approved Biogen
(
BIIB |
Quote |
Chart |
News |
PowerRating) and Elan’s
(
ELN |
Quote |
Chart |
News |
PowerRating)
multiple sclerosis drug Tysabri. Trial results were strong.
Jobless claims for the week ending 11/20 fell
12000–more than expected–to 323,000;Â The 4-week moving average fell 6,750 to 332,000.
Continuinh claims fell -29,000 to
2.755 million. The University of Michigan consumer sentiment index came in at
92.8 in November vs. 91.7 in October.
Durable goods orders for October fell -0.4%. The
estimate was for a rise of 0.5%. Ex transportation, -0.7%.
The shippers are in focus for the rest of the
year. UPS
(
UPS |
Quote |
Chart |
News |
PowerRating) and Fedex
(
FDX |
Quote |
Chart |
News |
PowerRating) are beginning their
busiest season of the year. A Neilson survey said online shopping was up 60%
last week from the week before.
The EIA said crude rose 100,000 barrels; gasoline
inventories rose 1.8 million barrel.
In Moscow, trading in oil giant Yukos was halted,
with the shares down 46%.
| Dow | +27.71 | 10520.31 |
| S&P 500 | +4.83 | 1181.77 |
| Nasdaq | +18.26 | 2102.54 |
Strong sectors were: Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) +2.62%,
Intenet
(
GIN.X |
Quote |
Chart |
News |
PowerRating) +2.21%, Semis
(
SOX.X |
Quote |
Chart |
News |
PowerRating) +0.92%.
Weak were: Gold
(
XAU.X |
Quote |
Chart |
News |
PowerRating)
-0.46%.
The dollar was -0.57 at 82.40
Gold was +1.90 to 449.10
Crude Oil was +0.38 at 48.32
1.62 billion on the Nasdaq.
Market breadth was positive.
| NYSE | Issues | |
| Advancing | 2341 | Up Vol 732 |
| Declining | 955 | Down Vol 296 |
| Ratio | 2.45 | 2.47 |
| Nasdaq |
||
| Advancing | 1938 | Up Vol 962 |
| Declining | 1154 | Down Vol 521 |
| Ratio | 1.67 | 1.84 |
Stocks in the News
H&R Block
(
HRB |
Quote |
Chart |
News |
PowerRating) reported a quarterly loss and guided lower.
Cray
(
CRAY |
Quote |
Chart |
News |
PowerRating) received an $8 million supercomputer order. Piper
Jaffray resumed its coverage with an outperform rating.
Chicago Mercantile Exchange
(
CME |
Quote |
Chart |
News |
PowerRating) was the subject of a negative
article in Barron’s. The stock trades at twice its projected growth rate.
Express Scripts
(
ESRX |
Quote |
Chart |
News |
PowerRating) guided higher for 2005.
JP Morgan downgraded Sirius
(
SIRI |
Quote |
Chart |
News |
PowerRating) to neutral from overweight.
Analog Devices
(
ADI |
Quote |
Chart |
News |
PowerRating) beat by a penny and lowered guidance for Q1
Brice Wightman
P.S. A TM member, Ken Martino, is in the hospital. Please keep him in your
thoughts.