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Contributors: Douglas McIntyre Jon C. Ogg

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Monday, October 30, 2006

Market Wrap (October 30, 2006)

DJIA 12,086.50; Down 3.76 (0.03%)
NASDAQ 2,363.77; Up 13.15 (0.56%)
S&P500 1,377.93; Up 0.59 (0.04%)
10YR-Bond 4.6730% ; Down 0.002
NYSE Volume 2,218,156,000
NASD Volume 1,724,181,000

Verizon (VZ) beat earnings, but profit taking too the stock down 3% to $37.65. Cramer said it was a Buy after the drop.

American Power Conversion (APCC) rose 26% to $30.02 after it agreed to a $31 buyout from Schneider.

Yahoo! (YHOO) rose 2.4% to $25.95 after Merrill Lynch started it as a Buy.

Both Sirius (SIRI) and XM Satellite (XMSR) fell after each announcing high-end auto deals today. SIRI closed down 1.5% at $3.79 and XMSR closed down 4.5% at $11.40.

Point Therapeutics (POTP) closed up 19.2% at $1.49 after positive osteosarcoma results.

Qualcom (QCOM) closed down 1% at $36.74 after the EU is investigating overcharging cell phone makers for its CDMA.

Blackrock (BLK) rose 3.7% to $155.00 after it missed earnings on net charges for the Merrill Lynch operations, but gace a solid outlook.

Applied Digital (ADSX) Closed up another 10% at $2.47 after adding more sales personnel at its Digital Angel.

Emisphere Tech (EMIS) fell 23% to $6.77 on mixed drug results for diabetes.

Tenet Healthcare (THC) closed down 10.5% at $7.42 after it gave another earnings warning.

Taro (TARO) closed down 9.4% at $10.88 after the resignation of its CFO amid an investigation.

Google (GOOG) closed up 0.3% at $476.57 after removing copyrighted materials off of YouTube.

Trustreet Properties INc traded up 35% to $16.97 after an acquisition by GE Capital.

You can expect the earnings onslaught to resume tomorrow. As far as beating or missing earnings estimates, CNBC gave the following numbers with 63% of the S&P 500 Index companies having already reported earnings: 74% above, 11% Met, and 15% were under.

Jon C. Ogg

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