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Thursday, August 10, 2006

Market Wrap (August 10, 2006)

Stock Tickers: UAUA, CAL, AMR, RYAAY, ASEDI, OSIS, GDTI, VISG, FILE, IMAX, CRAY, PMTI, CLZR, CEPH, ITWO, IMCL, SIRI, XMSR, JUPM, ECLG, EXPE.

DJIA 11,124.37; Up 48.19 (0.44%)
NASDAQ 2,071.74; Up 11.46 (0.56%)
S&P500 1,271.81; Up 5.86 (0.46%)
10YR-Bond 4.927%

If you would have been told yesterday that a mass murder plan to blow up US bound jets from England had been discovered and interrupted, and that the US markets would close up you might not have believed it. Oil prices fell by almost $2.00 to $74.40 per barrel.

United (UAUA), American (AMR) and Continental (CAL) were all targets for their jets leaving the UK to US. UAUA fell 1.4% to $23.50, AMR closed a hair up at $20.30, and CAL fell 1.5% to $23.85.

Ryanair (RYAAY) fell earlier but closed up 2% at $55.59 per ADR.

OSI Systems (OSIS) rose 9% to $19.12 since it scans for concealed items and scans for inorganic materials on passengers. American Science & Engineering (ASEI) also rose 25% to $45.61 as it is in the same area. n Guardian Tech (GDTI) rose after the WSJ noted they scan x-rays pictures and may benefit from the US rushing to screen liquids.

A homeland security play, Viisage (VISG), rose 3% to $14.20 after the D.O.D. gave it a $10 million order.

FileNet (FILE) closed up 4% to $36.10 after IBM did finally make the discussed $35 buyout offer.

IMAX (IMAX) closed down a sharp 40% at $5.75 after it disclosed that the SEC was revieweing its revenue recognition, and it said that buyout interest was at a lower level than the amount the board was seeking.

Cray (CRAY) closed up 2.3% at $13.32 after receiving a $52 million supercomputer order from the National Energy Research Scientific Computing Center.

JCPenney (JCP) closed up 2.5% at $65.58 after earnings and guidance.

Cephalon (CEPH) fell 12% to $55.77 after regulators gave its ADD drug a non-approvable letter.

Palomar Tech (PMTI) fell 3% to $34.05 after a patent dispute with Candela (CLZR); CLZR fell 15% to $12.49.

I2 Technologies (ITWO) was up 3.6% to $14.34 on renewed hopes that the company may be acquired.

Imclone (IMCL) fell 12/8% to $28.20 after the board completed its strategic review and determined that remaining independent was the best strategy for the company. That means no one was willing to buy them for a premium.

Sirius (SIRI) fell 2.8% to $3.77 and XM Satellite (XMSR) rose 1.6% to $11.13 after additional talk of a merger was being speculated on.

Jupiter Media (JUPM) rose over 5% to $6.98 after the CEO said the company was way undervalued.

eCollege.com (ECLG) fell a sharp 38% to $11.53 after the company's outlook failed to meet expectations.

Expedia (EXPE) rose 6% to $14.65 after beating earningsx expectations, and defeating the naysayers over the terror plot sell-off.

Jon C. Ogg
August 10, 2006
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