Stocks Near Intraday Highs
Stocks started the week on a high note
after hurricane Rita caused much less devastation than feared.
Most major oil and gas production facilities in the region were
spared significant damage leading to a sharp decline in oil and gas futures
trading on NYMEX.
The fixed income market is also reacting to the
better-than-feared impact from the storm, with treasury yields advancing
sharply. The 10-year yield is back above 4.3%, rising 5.4 basis points to
4.302%.
The National Association of Realtors revealed that existing
home sales rose 2% in August to an annual rate of 7.29 million units. Economists
had expected a decline to a rate of just over 7.1 million units.
GlobalSantaFe
(
GSF |
Quote |
Chart |
News |
PowerRating) reported that 2 of its offshore
oil and gas drilling rigs are missing after Hurricane Rita. The company said its
GSF Adriatic VII and GSF High Island III rigs could not be found on their
drilling locations during a search by aircraft Sunday. However, GlobalSantaFe
stated that there were no signs of major damage to its other Gulf of Mexico
rigs.
Volcom
(
VLCM |
Quote |
Chart |
News |
PowerRating) is among the best performers in the
early going after Wachovia upgraded its rating on the stock from Market Perform
to Outperform. The stock is currently up $2.50, or 10%.
MSGI Security Solutions
(
MGSI |
Quote |
Chart |
News |
PowerRating) is among the
morning’s biggest percentage decliners despite the fact that it refuted an
article on SmartMoney.com that suggested that the company was on shaky ground.
The stock is currently down 85 cents, or 13%.
Only one sector is trading in negative territory today.
Biggest Risers And Fallers
S&P 500:
Ciena
(
CIEN |
Quote |
Chart |
News |
PowerRating) +7.33%, ADC Telecommunications
(
ADCT |
Quote |
Chart |
News |
PowerRating) +5.75%
and Allegheny Technology
(
ATI |
Quote |
Chart |
News |
PowerRating) +5.25%.
Delphi
(
DPH |
Quote |
Chart |
News |
PowerRating) -13.29%, Monsanto
(
MON |
Quote |
Chart |
News |
PowerRating) -4.98% and
Ingersoll Rand
(
IR |
Quote |
Chart |
News |
PowerRating)
-3.55%.
Nasdaq 100:
Ciena
(
CIEN |
Quote |
Chart |
News |
PowerRating) +7.33%, ADC Telecommunications
(
ADCT |
Quote |
Chart |
News |
PowerRating) +5.75% and
Paychex
(
PAYX |
Quote |
Chart |
News |
PowerRating)
+4.57%.
RF Micro Devices
(
RFMD |
Quote |
Chart |
News |
PowerRating) -4.03%, Symantec
(
SYMC |
Quote |
Chart |
News |
PowerRating)
-1.08% and Biogen Idec
(
BIIB |
Quote |
Chart |
News |
PowerRating) -0.88%.
Strongest Sectors
Airline
(
XAL |
Quote |
Chart |
News |
PowerRating) +2.26%, Networking
(
NWX |
Quote |
Chart |
News |
PowerRating) +2.02% and Gold
Bugs
(
HUI |
Quote |
Chart |
News |
PowerRating) +1.55%.
Weakest Sectors
Chemical
(
CEX |
Quote |
Chart |
News |
PowerRating) -0.26%.
| Dow | +64.80 | 10,489.39 |
| Nasdaq | +12.26 | 2129.10 |
| S&P 500 | +5.25 | 1220.54 |
| NYSE | Nasdaq | |
| Volume | 805,473,000 | 654,929,000 |
| Up Volume | 528 (72%) | 392 (63%) |
| Down Volume | 188 (25%) | 172 (27%) |
| Advances | 2071 | 1818 |
| Declines | 1010 | 1031 |
| New Hi’s | 84 | 74 |
| New Lo’s | 32 | 24 |
Ashton Dorkins