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Contributors: Douglas McIntyre Jon C. Ogg

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Thursday, October 12, 2006

Market Wrap (Oct. 12, 2006)

DJIA 11,947.70; Up 95.57 (0.81%)
NASDAQ 2,346.18; Up 37.91 (1.64%)
S&P500 1,362.83; Up 12.88 (0.95%)
10YR-Bond 4.7780%

Today the DJIA hit new all-time highs and got us over the 11,900 level. The FED's Beige Book even showed a somewhat balance keel on th eeconomic opinion from the Fed members. The wider trade deficit on higher foreign oil buying mattered almost not at all.

UnitedHealth (UNH) fell almost 1% to $49.62 after Minnesota increased its investigation on the CEO's optiosn back-dating and acceleration.

McDonalds (MCD) closed up 2.3% to $42.23 after raising guidance on strong sales number.

Yum (YUM) rose 8% to $59.08 after raising guidance.

Costco (COST) rose 7% to $53.90 after it beat its lowered guidance and sees promise for holiday sales.

Gilead (GILD) rose 2% to $66.85 after posting its earnings.

Genetechh (DNA) fell 0.8% to $83.41 depite winning FDA expanded approval for its Avastin to treat lung cancer, but analysts were concerned about some price caps put in place.

Genzyme (GENZ) traded down 1.6% to $66.90 after missing its top-line revenue estimates.

Harley Davidson (HOG) continued motoring up 2.75% to close at $64.88 after beating earnings estimates and guiding double-digit earnings growth.

Palm (PALM) rose 5.9% to $16.22 after debuting its new Smartphone for consumers with GPS interface for local search.

Pepsi (PEP) closed down 1.5% at $62.85 after meeting estimates, as investors leave staple stocks.

Time Warner (TWX) rose to a new 52-week high closing price of $19.24, up another 0.6%, after Merrill Lynch raised its rating to a Buy from a Neutral and assigning a $23 target.

Lam Research (LRCX) managed to close up 0.5% on the day to $48.39 after beating earnings, but it spent most of the day in the red after its guidance was light and not as robust.

Cabot Micro (CCMP) closed down 3% at $30.20 after guiding slightly light EPS on charges.

Jon C. Ogg
Oct. 12, 2006

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