Market Falls. So Why Did This Dow Component Gain 10%?

Stocks were lower in broad-based selling as
investors await the employment report later in the week.

Consumer Confidence for March fell to 102.4 from 104.4 in February.

Hewlett Packard
(
HPQ |
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Chart |
News |
PowerRating) bucked the market trend–rising over
10%–after the company named former NCR chief Mark Hurd as CEO. THe appointment
ends a seven-week search after Carly Fiorina’s departure. NCR fell 17%.

AIG rose 2% higher after it was reported that Hank Greenberg is
stepping down as Chairman and that Eliot Spitzer said he was close to completing
his investigation.

MCI
(
MCIP |
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PowerRating) accepted Verizon’s $7.6 billion takeover bid, which
was less than Qwest’s bid.

HCA Inc
(
HCA |
Quote |
Chart |
News |
PowerRating) guided much higher. Lehman, Opco and Fulcrum all
upgraded the stock.

A seat on the NYSE went for $1.55 million–10% higher than the last
same on March 21. The recent low transaction was on January 11 of this year at
$975,000. The all-time high price was $2.65 million in August 1999.

Stocks in the News

Delta
(
DAL |
Quote |
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News |
PowerRating) will cut up to 2000 jobs.

Northrup Grumman
(
NOC |
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Chart |
News |
PowerRating) won a $203 million Army contract.

The FDA approved Pfizer’s
(
PFE |
Quote |
Chart |
News |
PowerRating) depo-subQ
provera for endometriosis pain.

UBS cut Limited
(
LTD |
Quote |
Chart |
News |
PowerRating) to underweight.