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Thursday, September 28, 2006

Market Wrap (Sept. 28, 2006)

DJIA 11,715.25; Up 26.01 (0.22%)
NASDAQ 2,270.02; Up 6.63 (0.29%)
S&P500 1,338.89; Up 2.30 (0.17%)
10YR-Bond 4.626%

Today we were really just spending another day trying to take out the DJIA highs. We had Q2 final GDP revised down to +2.6%, but look at the period. Q2 is as relevant as gold to a dead man now.

Shares of Align Technology (ALGN) rose a sharp 48% too $11.56 after it settled an existing patent case with OrthoClear that had gone against it.

DivX (DIVX) continued its post-Cramer run by closing up another 8% at $23.35.

Crocs (CROX) rose 0.1% at $33.93 after it was added to the S&P Small Cap 600 Index.

Smith International (SII) rose 2.7% to $38.40 after it was added to the S&P 500 Index.

Time Warner (TWX) fell today on a transitionary downgrade from JPMorgan and closed down 2.1% at $18.20.

Talk America (TALK) rose 12% to $9.35 after it received a buyout offer yesterday.

Threshold Pharma (THLD) rose 12.8% to $2.82 after receiving an FDA Orphan Drug Designation from the FDA.

Chindex (CHDX) rose a sharp 17% to $13.42 after launching its first PPO health insurance plan in China.

Riverbed (RVBD), a recent IPO, manged to climb another 8.9% at $18.57.

eBay (EBAY) rose 4% to $28.41 after it settled a group of "protecting the consumer" cases from over 20 Attorneys general.

Despite several H-P (HPQ) former insiders pleading the 5th and refusing to answer questions over the recent illegal spying they conducted, HPQ shares managed to close up 1.6% at $35.96.

Amgen (AMGN) fell 0.8% to $71.54 the day after its colorectal cancer drug received approval yesterday; Imclone (IMCL) fell again by 0.8% at $28.51 after word came out that Amgen's drug would be 20% less.

NVIDIA (NVDA) fell 1.9% to $29.57 after ThinkEquity cut to Sell.

Novatel (NVTL) fell a sharp 17% to $9.63 after ThinkEquity and Cowen downgraded the stock.

Sorry for so many Cramer posts of the same initial story earlier today. There was a posting script error that caused multiple posts.

Jon C. Ogg
September 28, 2006
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