Stocks Sell Off Despite Record M&A Activity

  • December 18, 2006
  • Darren Wong

NASDAQ leads indices to the downside. Crude oil
futures close lower by 1.9% to $62.21.

Stocks on the Move

Biomet
(
BMET |
Quote |
Chart |
News |
PowerRating) Agrees To Be Acquired By A Private Equity
Consortium For $10.9Bln; Delays Q2 Results Release (full
story). BMET shares fall by 1%.

Joy Global
(
JOYG |
Quote |
Chart |
News |
PowerRating) Q4 EPS Rises 57%; Guides Fy07 (full
story). JOYG shares jump by 8.5%.

L-3 Communications
(
LLL |
Quote |
Chart |
News |
PowerRating) Lowers FY07 Outlook On Loss Of Defense
Contract; Stock Down (full
story). LLL shares drop drop nearly 6%.

Home Depot
(
HD |
Quote |
Chart |
News |
PowerRating) To Oppose Plan For Any New Strategic Review Of
Business (full
story). HD shares close fractionally higher.

FedEx
(
FDX |
Quote |
Chart |
News |
PowerRating) Buys UK-based ANC For Approximately $234 Million (full
story). FDX shares close flat for today.

Penn National Gaming
(
PENN |
Quote |
Chart |
News |
PowerRating) Upgraded by Morgan Joseph from Hold
to Buy. PENN shares jump 8%.

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

Market Snapshot

Dow


-4.25
12,441.27

NASDAQ
-21.63
2,435.57

S&P 500


-4.61
1,422.48

NYSE


NASDAQ

Volume
2,477,878,000
1,861,984,000

Advances
1111
910

Declines
2178
2156

Up Volume
806
467

Down Volume
1403
1263

New Highs
233
137

New Lows
24
48


Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors

S&P Insurance Index (IUX)
PHLX Oil Services Sector Index (OSX)

PHLX / KBW Bank Sector Index (BKX)

Deutsche Bank Energy Index (DXE)

CBOE Dow Ten
Index (MUT)
Amex Natural Gas Index (XNG)


Economic News

Current Accounts -$225.6 bln vs -$225 bln consensus

Darren Wong
darrenw@tradingmarkets.com

Use our most popular trading tool to find out how your stocks will move in the next 5 days.