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

Previous Posts

Wednesday, September 06, 2006

Market Wrap (Sept. 6, 2006)

DJIA 11,406.20; Down 63.08 (0.55%)
NASDAQ 2,167.84; Down 37.86 (1.72%)
S&P500 1,300.26; Down 12.99 (0.99%)
10YR-Bond 4.80%

Furniture Brands (FBN) fell 2.5% to $18.76 after lowering its guidance.

Cisco Systems (CSCO) fell 1.8% to $21.69 despite reaffirming prior targets and maintaining a positive tone throughout its conference call.

Intel (INTC) fell a disappointing 3.4% to $19.31 after yesterday's confirmation that the company would layoff 10,500; although as we noted the company is really only shedding a true amount of 5,500 jobs if you eye it on a slash and burn analysis.

Amazon.com (AMZN) fell 4.4% to $30.80 after more talk surfaced that it would launch and unveil a movie download service.

Neflix (NFLX) rose 3.9% to $21.02 after JPMorgan raised it to Outperform saying technology upgrade fears are overblown.

XM Satellite Radio (XMSR) fell 3.6% to $12.32 after the SEC opened an inquiry on its subscriber growth targets.

Sony (SNE) ADR's fell 2.3% to $42.84 after Sony delayed the release of its PS3 in the EU and in Japan, although the US dates will be maintained for November.

TiVo (TIVO) fell 5.9% to $7.67 after it filed to sell 8.2+ million shares for general corporate survival funds.

Ford (F) rose 1.9% to $8.55 after naming Boeing's Alan Mulally as its new President/CEO to replace Bill Ford Jr; Mr. Ford will remain Chairman.

PW Eagle (PWEI) fell 4% to $33.89 despite being given a positive article in IBD.

Marvell Tech (MRVL) fell 3.5% to $17.87 despite the factthat Citigroup initiated it with a Buy rating, as it started Broadcom (BRCM) as a Hold.

Cirrus Logic (CRUS) fell 5.8% to $6.96 after announcing its CFO would leave the company.

Jon C. Ogg
September 6, 2006
 Subscribe

Powered by Blogger