Wine-Drinkers Are Winners, Plus,This Name-Brand IPO Prices Tonight

The Dow gained 100 points in a broad rally on
Monday.
  The Nasdaq closed at its 200-day moving average. 
Home Depot
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rallied on the heels of higher profits and revenues by
Lowe’s
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.

Boise Cascade (BCC) may be pricing tonight, 16 million shares between
$19-$21, down from $24-$26.

After the close, Agilent
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missed by a penny and guided lower for
Q3. Warren Buffet said he owns 630,000 shares of Proctor & Gamble
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. SonicWall
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beat by 0.04 and guided Q2 higher.

UPS is buying Overnight Corp. for $1.25 billion in cash; the
acquisition will allow UPS to increase its less-than-truckload services.

Genentech
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and OSI Pharmaceuticals
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said
that Phase III trials of Avastin showed a 30% improvement in survival rates in
cancer patients.

Celgene
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reported good results on its Revlimid.

Limited Brands
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missed by 0.02 and warned for Q2.

The Supreme Court ruled that states cannot prohibit consumers from buying
wine directly from out of state wineries. The ruling could potentially lead to
lower prices and more easily available choices. Up on the news are:
Constellation Brands

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and Allied Domenq
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.  
THe decision is expected to also be good for smaller wineries.

Strong sectors were:  Homebuilders 
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+2.30%
Airlines 

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+2.48%  
Retail 

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+2.19%     

Weak sectors were:  Gold
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-0.94%   
Oil

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-0.53%     Chemicals
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-0.06%  

Dow +112.17 10,252.29
Nasdaq +17.69 1994.47
S&P 500 +11.65 1165.70

The dollar was +0.01 at
86.01

Crude Oil was -0.11 at
50.17

Gold was +0.30 at 419.10

ce=”Arial” size=”2″ face=”Arial”>Volume was 1.46 billion on the NYSE and
1.42 billion on the Nasdaq.

Market breadth was positive.

NYSE Issues
Advancing 2360 Up Vol 1306
Declining 928 Down Vol 502
2.54 2.60
Nasdaq
Advancing 1887 Up Vol 978
Declining 1228 Down Vol 391
1.53 2.50

Stocks in the News

Lowes
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missed but profits and revenues rose.

Advanced Micro Devices
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was raised to a buy at Legg Mason.

Citigroup
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is higher after a positive article in Barron’s.

Alcoa
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is lower after Smith Barney cut earnings estimates.

Pfizer
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is higher after it reported Sutent improved survival
rates and reduced tumor growth.

Brice Wightman

 

 

 

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