Stocks Pause for Breath

• November 29, 2007
• TradingMarkets Editors

After the biggest two-day rally in more than five years, stocks closed fractionally higher on Thursday.

In economic news, U.S. home prices fell for the first time in 13-years during the third quarter (full story).

E*Trade Financial
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PowerRating) received a $2.55 billion cash injection from Citadel Investment Group.

Q2 net income rose 19% at H.J. Heinz
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PowerRating).

Sears Holdings
(
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PowerRating) is down sharply after missing earnings estimates.

VimpelCom
(
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PowerRating) reported profit rose 71%, on revenue up 44% (read more).

Canada’s Toronto-Dominion Bank reported a 43% rise in Q4 profit (read more).

Staying in Canada, the Montreal Exchange is in negotiations with the TSX Group, operator of the Toronto Stock Exchange, about a possible merger (full story).

Market Snapshot

Dow 22.28 13311.73 NASDAQ 5.22 2668.13 S&P 500 0.70 1469.72   NYSE NASDAQ Volume 1,333,502,070 2,138,168,833 Up Volume 603,859,360 1,026,780,597 Down Volume 691,589,010 1,057,480,410 Advances 1473 1352 Declines 1781 1626 New Highs 46 49 New Lows 94 114

Strongest/Weakest Industry Groups

Strongest Industries % Change Weakest Industries % Change Toy & Hobby Stores +4.12% Broadcasting – TV -3.81% Foreign Regional Banks +3.97% Department Stores -3.36% Semiconductor – Specialized +3.07% Jewelry Stores -3.02%

Economic News

Initial Claims (11/24): Actual 352K, Consensus 330K New Home Sales (Oct): Actual 728K, Consensus 750K