Merger Monday–Here’s Who’s Involved
Stocks are lower after oil hit fresh highs.
Oil prices have backed off since the highs–over $58–earlier, though.
ChevronTexaco
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PowerRating) is buying Unocal
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billion deal valuing UCL at $62. Is it a take-under?
UK’s The Independent said that HSBC may consider making a bid for
Morgan Stanley
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PowerRating).
NCR Corp.
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NCR |
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Barron’s, which said the price drop was unwarranted.
The Supreme Court ruled that in bankruptcy cases, IRAs can be shielded from
creditors .
Strong sectors are: Â
Airlines
(
$XAL.X |
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PowerRating) +0.68% Â Natural Gas
(
$XNG.X$ |
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+0.55% Â Insurance
(
$IUX.X |
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PowerRating) +0.41% Â
Weak sectors are:Â Â Gold
(
$HUI.X |
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PowerRating) -2.54%Â Â
Biotech
(
$BTK.X |
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PowerRating) -1.11%Â Networkers
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$NWX.X |
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PowerRating)
-1.07%
Dow | -12.64 | 10,391.66 |
Nasdaq | -7.21 | 1977.6 |
S&P 500 | -1.87 | 1171.05 |
The dollar is +0.50 at
84.93
Crude Oil is +0.43 at
57.70
Gold is -2.80 at 423.40
ce=”Arial” size=”2″ face=”Arial”>Volume is 899 million on the NYSE and
705 million on the Nasdaq
Market breadth is negative.
NYSE | Issues | |
Advancing | 1150 | Up Vol 309 |
Declining | 1956 | Down Vol 515 |
1.70 | 1.66 | |
Nasdaq |
||
Advancing | 959 | Up Vol 210 |
Declining | 1925 | Down Vol 446 |
2.00 | 2.12 |
Stocks in the News
AIG was upgraded at Smith Barney and Morgan Stanley.
Joseph A Bank
(
JOSB |
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PowerRating) beat by 0.04. The company sees 2005 sales of
2.05. Short interest on the stock is 51% of float.
Brice Wightman