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Contributors: Douglas McIntyre Jon C. Ogg

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Friday, October 20, 2006

Market Wrap (Oct. 20, 2006)

DJIA 12,002.37; Down 9.36 (0.08%)
NASDAQ 2,342.30; Up 1.36 (0.06%)
S&P500 1,368.60; Up 1.64 (0.12%)
10YR-Bond 4.784%

Oil fell to under $57 per barrel as skeptics and analysts rethought OPEC. They remembered that OPEC is full of cheaters and that as long as prices are up even this high that they will toss their quotas out the window. The DJIA managed to hang on to 12,000 even after a down day.

Exxon Mobil (XOM) fell 0.25% to $69.55 and the Oil Service HOLDRs (OIH) fell 2.1% to $129.97.

Caterpillar (CAT) fell over 14% to $59.00 after missing estimates and guiding lower.

The big story of the day was Google (GOOG) after the blew away estimates. GOOG closed up 7.89% at $459.67.

SanDisk (SNDK) closed down 20% at $49.15 after margin pressures overshadowed an outperformance of earnings.

News Corp (NWS) fell 0.7% to $21.76 after shareholders approved a poison pill provision.

Wild Oats (OATS) gained 2.7% to $17.83 after disclosing they were not going to renew the CEO contract in 2007, and after rumors surfaced that they could be a takeover candidate.

EXLSrevices (EXLS) closed up $5.35 higher than its $13.50 IPO price on its debut in trading.

Vical (VICL) closed up 9.9% at $5.88 after saying its vaccine was 100% effective against Avian Flu in its study involving ferrets.

Terex (TEX) fell 9% with CAT shares.

US Concrete (RMIX) fell 14% to $6.15 after missing earnings estimates and making a small acquisition.

SiRF (SIRF) rose 10.6% to $24.95 after slightly exceeding revenue estimates.

Broadcom gave up 5% to close down at $27.51 after a poor earnings guidance and after saying they would miss the quarterly report filing date. (KNOT) rose 2.7% to $24.58 after Cramer said that Yahoo! should acquire the company as part of its strategy to get back on track.

Jon C. Ogg
October 20, 2006

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