Stocks Close Mixed
Stocks were mixed Thursday,
with the averages hugging the flat line much of the day.
Prices were pushed up in August, with the CPI
coming in at a 0.5% increase. The core inflation rate rose 0.1%. Jobless claims
last week rose 71,000 to 398,000; the figure does not include the effects of
Katrina. The Empire State Manufacturing index fell in September, to 17.0 from
23.0 in August.
After the close, Adobe
(
ADBE |
Quote |
Chart |
News |
PowerRating) beat by
0.02. Tektronics
(
TEK |
Quote |
Chart |
News |
PowerRating) beat by 0.02 but guided lower.
Google
(
GOOG |
Quote |
Chart |
News |
PowerRating)
said it will expand into China and buy faster computers to support new services.
Yesterday, the company raised $4.18 billion in a stock sale.
Imclone
(
IMCL |
Quote |
Chart |
News |
PowerRating) and Bristol Myers
(
BMY |
Quote |
Chart |
News |
PowerRating) said that Health Canada’s Biologics and Genetic Therapies Directorate
approved Erbitux as a metastatic colorectal cancer treatment.
Bear Stearns
(
BSC |
Quote |
Chart |
News |
PowerRating) beat by 0.31. (full
story)
Strong Sectors were: Gold
(
XAU |
Quote |
Chart |
News |
PowerRating)
+1.69% Biotech
(
BTK |
Quote |
Chart |
News |
PowerRating) +1.04%
Weak sectors were:
Airlines
(
XAL |
Quote |
Chart |
News |
PowerRating)
-1.60% Semis
(
SOX |
Quote |
Chart |
News |
PowerRating) -1.01%
|
|
+13.85 | 10,558.75 |
| -3.18 | 2146.15 | |
| +0.55 | 1227.71 |
Stocks in the news:
Bear Stearns upgraded SBC
(
SBC |
Quote |
Chart |
News |
PowerRating) and AT&T
(
T |
Quote |
Chart |
News |
PowerRating) to outperform
Amgen
(
AMGN |
Quote |
Chart |
News |
PowerRating) was upgraded to a Buy at Deutsche Bank, with a $102
price target.
Newell Rubbermaid
(
NWL |
Quote |
Chart |
News |
PowerRating) will cut more than 5000 jobs in a broad
corporate restructuring. The company plans to reduce costs by $120 million and
is targeting one-third of its manufacturing facilities for closing.
California Micro Devices
(
CAMD |
Quote |
Chart |
News |
PowerRating) raised Q3 guidance after the close Wednesday.
Pier One Imports
(
PIR |
Quote |
Chart |
News |
PowerRating) beat by a penny, with a 0.12 loss.
The New York Post
reports Time Warner
(
TWX |
Quote |
Chart |
News |
PowerRating) is in talks to sell a stake in America
Online to Microsoft.
Brice Wightman