Stocks Bounce Back

  • July 30, 2007
  • John Patrick Lee

After a choppy start to the trading day, stocks finally managed to
stage a notable rally during the afternoon. Last week, the Dow
experienced its largest points drop in five years and the S&P 500
lost the most points in six years.

Verizon Wireless announced a deal to buy Rural Cellular

(
RCCC |
Quote |
Chart |
News |
PowerRating). Meanwhile, Verizon Communications
(
VZ |
Quote |
Chart |
News |
PowerRating)
reported Q2 net income rose 4.5%.

South Korea’s Doosan Infracore agreed to buy a unit of
Ingersoll-Rand
(
IR |
Quote |
Chart |
News |
PowerRating) for $4.9 billion (full
story).

American Home Mortgage
(
AHM |
Quote |
Chart |
News |
PowerRating) shares were suspended
after losing 42% in pre-market trading. On Friday, the company
said that it will delay payments of its quarterly dividend.
Business Wire reported "The disruption in the credit markets in
the past few weeks has been unprecedented in the company’s
experience and has caused major write-downs of its loan and
security portfolios and consequently has caused significant margin
calls with respect to its credit facilities."

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Stocks in Motion

Loews
(
LTR |
Quote |
Chart |
News |
PowerRating) Q2 Profit Rises 15%; Revenues Up 8% (full
story).

Archer-Daniels-Midland
(
ADM |
Quote |
Chart |
News |
PowerRating) Q4 Profit Up 133% On
Asset-sales Gains; Ethanol Volume Down (full
story).

Humana
(
HUM |
Quote |
Chart |
News |
PowerRating) Q2 Profit More Than Doubles (full
story).

Tyson Foods
(
TSN |
Quote |
Chart |
News |
PowerRating) Swings To Profit In Q3 On Higher Average Sales
Prices (full
story).

Monster Worldwide
(
MNST |
Quote |
Chart |
News |
PowerRating) Q2 Profit Falls On Higher Costs (full
story).

RadioShack
(
RSH |
Quote |
Chart |
News |
PowerRating) Swings To Profit In Q2 On Improved Margins (full
story).

For more stories as they happen, go to our
Breaking News section.


Market Snapshot

Dow

 +92.84 13358.31

NASDAQ

 +21.04 2583.28

S&P 500

 +14.96 1473.91

NYSE NASDAQ

Volume

 2,027,175,470 2,308,544,607

Up Volume

 1,518,554,560 1,567,850,851

Down Volume

 490,961,010 730,181,381

Advances

 2,130 1,693

Declines

 1,233 1,355

New Highs

 17 41

New Lows

 444 311


Strongest/Weakest Industry Groups

Strongest Industries

Weakest Industries
Industrial
Electrical Equipment
Semiconductor-Memory Chips
Industrial
Metals & Minerals		 Drug
Delivery
Nonmetallic
Mineral Mining
Marketing Services



Economic
News

University of Michigan’s consumer
sentiment index rose to 90.4 in July from 85.3 in June (full
story).

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