The Pentagon Is Cutting Back–Here’s Who’s Affected

Stocks are virtually flat on low volume as traders
wind down the year.

Chicago PMI was 61.2 vs 63 consensus. Jobless claims for
the week ending 12/25 fell to 5,000 to 326,000; economists were expecting a rise
of 2000. The 4-week moving average fell 6000 to 333,500

Continental Airlines
(
CAL |
Quote |
Chart |
News |
PowerRating) will buy 10 Boeing
(
BA |
Quote |
Chart |
News |
PowerRating) 7E7
Dreamliners in a deal worth $1 billion.

The New York Times reports that the Pentagon plans to buy fewer LPD-17
landing craft, made by Northrup Grumman
(
NOC |
Quote |
Chart |
News |
PowerRating). The intraday low on
NOC appears to have bounced off the 10/4/04 swing high.

Fannie Mae
(
FNM |
Quote |
Chart |
News |
PowerRating) said it priced two preferred stock
placements–value: $5 billion.

Pfizer
(
PFE |
Quote |
Chart |
News |
PowerRating) said Celebrex prescriptions fell 56% last week after
a study linked the drug to heart attacks and stroke.

Strong sectors are:  Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) +0.76%, Gold
(
XAU.X |
Quote |
Chart |
News |
PowerRating)
+0.55%, Brokers
(
XBD.X |
Quote |
Chart |
News |
PowerRating) +0.52%

Weak sectors are: Oil Services
(
OSX.X |
Quote |
Chart |
News |
PowerRating) -0.86% ,
Internet
(
GIN.X |
Quote |
Chart |
News |
PowerRating) -0.36%.

 

Lehman Bros. trimmed estimates for Alcoa
(
AA |
Quote |
Chart |
News |
PowerRating).

Computer Sciences
(
CSC |
Quote |
Chart |
News |
PowerRating) announced $427 in federal contracts.

Sanmina
(
SANM |
Quote |
Chart |
News |
PowerRating) guided Q4 lower, from 0.02 to 0.01.

CoTherix
(
CTRX |
Quote |
Chart |
News |
PowerRating) said the FDA approved Vetavis for hypertension.

This Day in History

1922 USSR established

1972 Nixon halted bombing of North Vietnam

Brice Wightman