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Contributors: Douglas McIntyre Jon C. Ogg

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Friday, October 13, 2006

Market Wrap (Oct. 13, 2006)

DJIA 11,960.51; Up 12.81 (0.11%)
NASDAQ 2,357.29; Up 11.11 (0.47%)
S&P500 1,365.62; Up 2.79 (0.20%)
10YR-Bond 4.806%

We saw yet another record high close for the DJIA, quite impressive considering the index was in the red most of the day. Today would have been called, "the awesome IPO day" instead of Friday the 13th. University of Michigan Confidence rose because of retail sales and stronger spending with oil down from its highs. Oil closed up over $59.00 after Norway had to close 2 offshore platforms that would trim about 10% of their production.

Valero (VLO) closed up 2.7% at $53.59 despite announcing it would lose 245,000 barrels per day of production because of maintenance.

The Oil Services HOLDRs closed up 1.6% at $127.85.

SAIC (SAI) priced 75 million shares at $15.00, yet it gapped up more than $1 from the price and closed up at

Acme Packet (APKT) also gapped up from its $9.50 IPO pricing and closed up all the way at $15.91.

eHealth (EHTH) closed up at $22.90, 8.90 above its IPO price.

EZCorp (EZPW) closed up 16% at $42.47 after better earnings.

Microsoft (MSFT) closed up after it maintained its release date for Windows Vista and making adequate changes for regulators in the EU and in Korea.

GE (GE) closed down 0.66% at $35.98 after meeting earnings expectations.

UnumProvident (UNM) rose 9% to $21.72 on takeover chatter that Sun Life may be interested in the company.

MSC Software (MSCS) fell 13% to $13.64 after failing to meet expectations.

ABIOMED (ABMD) fell 10% to $13.49 after revenues fell short on a preliminary basis, fairly poor of the company considering that they just did a secondary offering.

BellSouth (BLS) closed down 0.3% at $44.13 after democrats managed to get the final approval vote delayed to November to review anti-competitive measures.

Noble International (NOBL) closed up 11% at $16.17 after earnings and after making an acquisition.

GameStop (GME) closed up 2.8% at $51.72 after NPD posted a strong September video games sales month, and as it sold out of Nintendo's Wii pre-sale units.

Qimonda (QI) rose 10% after announcing it would exit some unprofitable operations.

Saifun (SFUN) fell some 25% after Qimonda said it would cease those operations.

Sonic (SONC) rose 5.8% to $23.79 after Cramer touted it as undervalued on MAD MONEY last night.

Have a great weekend.

Jon C. Ogg
October 13, 2006
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