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Contributors: Douglas McIntyre Jon C. Ogg

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Thursday, September 14, 2006

Market Wrap (Sept. 14, 2006)

DJIA 11,527.39; Down 15.93 (0.14%)
NASDAQ 2,228.73; Up 1.06 (0.05%)
S&P500 1,316.28; Down 1.79 (0.14%)
10YR-Bond 4.793%

How would you describe today? Directionless. Energy prices continued their slide on natural gas inventories.

Energy stocks slid again in sympathy with natural gas prices going to a 2-year low after an inventory surge. The Oil Service HOLDRs (OIH) closed down $4.10 at $124.50; ExxonMobil (XOM) closed down $0.60 at $64.76.

Microsoft (MSFT) rose 1.4% to $26.35 after it confirmed it was launching its Zune player to compete with Apple's (AAPL) iPod new offerings; AAPL closed almost flat with a $0.05 gain at $74.25.

Transmeta (TMTA) rose over 12% to close at $1.32 on speculative market hopes that their technology licensed by Toshiba would be used for Microsoft's Zune.

Time Warner Telecom (TWTC) fell almost 5% to $17.74 after announcing that Time Warner Inc (TWX) and affiliates would sell 27.5 million shares. TWX actually fell $0.06 to $16.92 on the news.

Level 3 (LVLT) had a huge day rising 8.3% to $4.93 on some 79 million shares as Cramer on MAD MONEY last night said that was THE way to play the YouTube craze after they won the YouTube broadband contract.

Despite slightly lowering its revenue range, Xilinx (XLNX) rose 4% to $22.41 as the street was happy that the chip results just weren't much worse.

Linear Tech (LLTC) also rose 1.2% to $33.69 after it updated guidance and showed some higher costs and charges.

Ford (F) shares closed down 1% at $9.09 even after it and the United Auto Workers agreed to some buyout terms of its employee contracts.

Genzyme (GENZ) rose 2.7% to $68.35 after saying its Phase II interim multiple sclerosis drug study showed superior results to those of Serono's (SRA) Rebiff; SRA fell 1% to $17.52.

XM Satellite radio (XMSR) rose 9.4% to $13.69 after Credit Suisse raised the rating to an Outperform based on his opinions of past news.

Hansen natural (HANS) rose 12% to $33.38 after Goldman Sachs added it to its Focus Buy List; and that is just 1 morning after Cramer on MAD MONEY came out the night before saying it was done and may never go back up.

Rambus (RMBS) rose another 2.8% to $19.04 on what is becoming nearly a daily event.

Shares of Gap Inc. (GPS) rose another 1.1% to $17.68 a day after Lehman upgraded the stock.

Jon C. Ogg
September 14, 2006

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