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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is buying Unocal
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in an $18
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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.

NCR Corp.
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was the subject of a positive article in
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:  
Airlines

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+0.68%  Natural Gas
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+0.55%   Insurance
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$IUX.X |
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+0.41%  

Weak sectors are:   Gold
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-2.54%  
Biotech
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$BTK.X |
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-1.11%  Networkers
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-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
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beat by 0.04. The company sees 2005 sales of
2.05. Short interest on the stock is 51% of float.

Brice Wightman