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Friday, September 01, 2006

Market Wrap September 1, 2006

The markets were up broadly.

The DJIA was up .74% to 11,465.35.

The Nasdaq was up .43% to 2,193.22.

The S&P was up .55% to 1,311.03.

There was little movement among the big techs. Most traded within a narrow range, up or down less than 1% from yesterday. Broadcom was an exception. It dropped almost 5% to $27.96 after it IP case against Broadcom was thrown out of court.

Starbuck's rose almost 3% to $31.84, as its August same-store sales beat Wall St estimates.

Over on the NYSE, Bristol-Myers rose 5.5% after a federal court said that a generic version of the drug Plavix could not be sold in the US until a trial on the matter is settled. Plavix is BMY's largest money-maker.

Shares in Intergraph were up 17% to $43.88 on news that a private equity group would buy the company.

Revlon's shares moved up almost 9% to $1.41. On Wednesday, the WSJ ran an article saying that insiders were buying the stock.

Douglas A. McIntyre

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