Merger Monday! Here’s Who’s Involved
Stocks are higher Monday on
lower oil and positive comments on a Dow component.
Prudential upgraded Proctor & Gamble
(
PG |
Quote |
Chart |
News |
PowerRating) to overweight
from neutral. Market breadth is strong; also, the new high list is expanding
The Dow has rallied 335 points since Thursday’s low. Oil is down for a third day
in a row. The $SOX at 7-month highs.
Dreamworks
(
DWA |
Quote |
Chart |
News |
PowerRating) warned of a Q2 loss and said it would withdraw
its proposed $500 million offering.
Sprint
(
FON |
Quote |
Chart |
News |
PowerRating) is buying US Unwired
(
UNWR |
Quote |
Chart |
News |
PowerRating) for $1.3 billion plus debt.
It’s earnings season! Later in the week,
look for General Electric
(
GE |
Quote |
Chart |
News |
PowerRating). After the close today, Genentech reports; look for 0.26.
Strong sectors are: Gold
(
$HUI.X |
Quote |
Chart |
News |
PowerRating) +2.57% Internet
(
$GIN.X |
Quote |
Chart |
News |
PowerRating) +2.36%
Disk Drives
(
DDX.X |
Quote |
Chart |
News |
PowerRating) +2.30%
| Dow | +69.66 | 10,518.80 |
| Nasdaq | +20.20 | 2133.0 |
| S&P 500 | +7.13 | 1218.99 |
The dollar is -0.72 at
89.53
Crude Oil is -1.06 at
58.57
Gold is +1.60 at 425.80
812 million on the Nasdaq.
Market breadth is positive.
| NYSE | Issues | |
| Advancing | 2269 | Up Vol 517 |
| Declining | 803 | Down Vol 127 |
| 2.82 | 4.07 | |
| Nasdaq |
||
| Advancing | 2048 | Up Vol 619 |
| Declining | 819 | Down Vol 114 |
| 2.50 | 5.42 |
Stocks in the News
Komag
(
KOMG |
Quote |
Chart |
News |
PowerRating) raised Q2 revenue guidance.
Mylan
(
MYL |
Quote |
Chart |
News |
PowerRating) said it sees Q1 above estimates.
Pilgrim’s Pride
(
PPC |
Quote |
Chart |
News |
PowerRating) raised its Q3 profit outlook.
Prudential cut its price target on Dell
(
DELL |
Quote |
Chart |
News |
PowerRating) to
$52 from $55.
CSFB upgraded Schering-Plough
(
SGP |
Quote |
Chart |
News |
PowerRating) to outperform from market
perform.
Brooks Automation
(
BRKS |
Quote |
Chart |
News |
PowerRating) is acquiring
Helix
(
HELX |
Quote |
Chart |
News |
PowerRating) for $450 million.
Brice Wightman