Stocks Rally to Close Week; Dow Adds Triple Digit Gains

• August 24, 2007
• Darren Wong

U.S. stocks continued to climb higher, as positive housing data
outweighed fears concerning the credit market.

Shortly after the opening bell, new home sales data was released
that showed a 2.8 percent increase in new home sales for July. The
increase easily beat analyst expectations, but were well down 10.2
percent from the same month last year. The increase brings
optimism that the housing slowdown may be coming to an end.

Crude oil future prices for September rose by
1.8% to $71.07 a barrel. Gold
futures for December delivery gained 1.3% to $676.80 an ounce
after the dollar weakened.

Around Europe, Germany’s DAX index closed flat at 7,507.27,
France’s CAC 40 index added 0.8% to 5,569.38, and Britain’s FTSE
100 rose 0.4% to 6,220.10.

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Stocks in Motion

Burger King Holdings ( BKC | Quote | Chart | News | PowerRating) Turns To Profit In Q4 On Lower Costs; Revenue Up 11%, Comps Rises 4.4% (full story). BKC shares lost 3.5%. Marvell Technology ( MRVL | Quote | Chart | News | PowerRating) Slips To Loss In Q2 As Expenses Offset Revenue Growth (full story). MRVL shares dropped 12%. HJ Heinz ( HNZ | Quote | Chart | News | PowerRating) Q1 Profit Rises 6% On Strong Sales Of Top Brands, Marketing Investment; EPS Matches Estimate; Raises FY07 EPS View (full story). HNZ shares added 0.5%. Gap ( GPS | Quote | Chart | News | PowerRating) Q2 Earnings Rise; Boosts FY07 Earnings Outlook; Reveals Additional $1.5 Bln Share Buyback (full story). GPS shares added 5%. For more stories as they happen, go to our Breaking News section.

Market Snapshot

Dow +142.99 13,378.87 NASDAQ +34.99 2,576.69 S&P 500 +16.87 1,479.37 NYSE NASDAQ Volume 2,155,188,000 1,599,571,000 Advances 2425 1954 Declines 842 1038 Up Volume 1578 1141 Down Volume 351 313 New Highs 27 57 New Lows 52 70

Strongest/Weakest Industry Groups

Strongest Industries Weakest Industries Energy Gold Pharmaceuticals Retail Telecom Banking

Economic News

New Homes Sales 870K vs 820K consensus, prior revised to 846 K from 834K; represents a +2.8% m/m change Durable Goods Orders ex trans +3.7% vs +0.6% consensus, prior -0.1%

Darren Wong

Associate Editor

darrenw@tradingmarkets.com

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