Insightful analysis and commentary for the US and global equity investor
Contributors: Douglas McIntyre Jon C. Ogg

Previous Posts

Thursday, August 17, 2006

Market Wrap (August 17, 2006)

Stock Tickers: HPQ, AMD, INTC, MRK, XOM, OIH, PBW, MON, GYMB, CHINA, BEAS, EBAY, NMGC, IMOS, NBIX, CRM, ZUMZ, ESST

DJIA 11,334.96; Up 7.84 (0.07%)
NASDAQ 2,157.61; Up 8.07 (0.38%)
S&P500 1,297.48; Up 2.05 (0.16%)
10YR-Bond 4.867%

Even with an up-day, today felt more like a day of profit taking from the opening levels this morning ahead of equity options expiration date. Falling oil prices didn't seem to matter, it was down $1.83 at $70.06 on the last look.

Hewlett-Packard (HPQ) traded up another 1.9% to $35.09 after beating earnings estimates yesterday, raising guidance, and allocating $6 Billion for share buybacks.

AMD (AMD) rose another 7% to $1.63 after an upgrade from Citigroup, but more so on numerous online reports that Dell would announce an expanded pact for AMD Opteron processors for desktops and laptops.

Intel (INTC) fell 0.5% to $18.52 on this AMD news.

Merck (MRK) fell $2.40, or -5.8%, to $38.78 after a Louisiana jury ruled that it was negligent and responsible for the heart attack of an ex-FBI agent in that state; it also had a favorable ruling from a past case in New Jersey get overturned by the judge because of new evidence.

Exxon Mobil (XOM) actually rose 0.75% to $68.08 at the end of the day and the Oil Services HOLDRs (OIH) fell 1.8% to $136.01 on the low oil prices. Despite weak energy names, the PowerShares WilderHill Clean Energy (PBW) actually rose 0.3% to $17.58.

Monsanto (MON) rose 1.2% to $47.21 after Jim Cramer featured it as a beneficiary last night for Biodiesel.

Gymboree (GYMB) rose 4.8% to $32.12 after beating earnings on strong youngster back to school sales.

Bristol-Myers Squibb (BMY) rose 1.8% to $21.46 after an expanded use for Plavix(R).

CDC, or China.com, (CHINA) rose 9.7% to $5.09 after securing a search pact for Google in China.

BEA Systems (BEAS) rose 6% to $13.24 after beating earnings, even after disclosing its own options probe.

eBay (EBAY) rose 7% to $27.63 after more price hikes are being passed on to eBay Store owners.

NeoMagoc (NMGC) rose a sharp 19% to $3.14 on the investment community hoping they won business from Apple.

ChipMOS (IMOS) rose 5.5% to $5.87 after disclosing an increase in July sales.

Neurocrine Bio (NBIX) rose almost 10% to $10.46 on hopes of a new indiplon partnership and on hopes of a positive FDA ruling at the end of the month; this stock is now up over 15% in the last 4 days on market chatter.

Salesforce.com (CRM) rose a sharp 19% to $33.75 after beating earnings and giving guidance in-line with street estimates afetr being punished for fears it couldn't maintain growth targets.

Zumiez (ZUMZ) fell another 9.7% to $24.00 after earnings were above but light revenues and light revenue guidance.

ESS Tech (ESST) fell 12.5% to $1.19 after the S&P announced they were being booted from the S&P 1500 because of its perpetually low share price.

Jon C. Ogg
August 17, 2006
 Subscribe

Powered by Blogger