Stocks Up on Deal News

  • July 3, 2007
  • Darren Wong

The pre-holiday trading session was boosted by factory order data
and new M&A activity. Kraft Foods offered $7.2 billion to buy a
division of French food company Group Danone. The Nasdaq leads
with a gain of 0.35%.

Crude oil futures for August delivery fell 0.3% to $70.85 per barrel.  Gold
futures for August delivery fell fractionally to $657.30 an ounce.


Around Asia, Shanghai’s Composite index added 1.7% to 3,899.72,
Hong Kong’s Hang Seng rose 1.75% to 22,151.14, and Tokyo’s Nikkei
closed flat at 18,149.90.

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Stocks in
Motion

Southwest Airlines June Load Factor Rises To 82.1%; Q2 Load Factor
Drops 1.9 Pts (full
story). LUV shares rise 1%.

Kraft Foods Offers To Buy Groupe Danone’s Biscuit And Cereal Products
Business For $7.2 Bln Cash (full story). KFT shares fell 2.4%, while DA shares
lost 0.25%.

Norfolk Southern CFO Henry Wolf Retires; James Squires Named Successor (full
story). NSC shares rose 1.4%.

SAP Responds To Oracle Lawsuit; Admits Occurrence Of Inappropriate Downloads
At TomorrowNow (full
story). SAP shares dropped 2%, while ORCL shares gained 0.4%.

Walgreen June Comps. Rise 5.1%, Total Sales Up 9.5% (full
story). WAG shares were unchanged.

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


Market Snapshot

Dow

 +26.67 13,562.10

NASDAQ

 +7.69 2,640.15

S&P 500

 +2.96 1,522.39

 

 NYSE NASDAQ

Volume

 1,014,374,000 708,485,000

Advances

 1864 1528

Declines

 1232 1308

Up Volume

 517 414

Down Volume

 374 210

New Highs

 219 174

New Lows

 37 49


Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
Nasdaq Other Finance Index (OFINX)
S&P Chemicals Index (CEX)
Networking Index (NWX)
Amex Gold Bugs Index (HUI)
Securities Broker/Dealer Index (XBD)
S&P Retail Index (RLX)


 


Economic
News

Factory Orders -0.5% vs -1.2%
consensus

Pending Home Sales -3.5% vs +0.3% consensus, previous revised to
-3.4% from -3.2%

Darren Wong

Associate Editor

darrenw@tradingmarkets.com