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Thursday, November 16, 2006

Market Wrap (Nov. 16, 2006)

DJIA 12,305.82; Up 54.11 (0.44%)
NASDAQ 2,449.06; Up 6.31 (0.26%)
S&P500 1,399.76; Up 3.19 (0.23%)
10YR-Bond 4.655% Up 0.04
NYSE Volume 2,738,514,000
NASD Volume 2,031,971,000

Today was another record high on the DJIA. We had another drop in Consumer Prices and natural gas innevtories coming out at another surplus helped fall $2.50 to $56.26. We learned of the death of famed economist (socio-economist) Milton Friedman today.

Dell (DELL) was the big shocker as it delayed earnings and said its SEC investigation has now gone to formal. DELL shares fell 2.5% to $25.10, but shares had been down 5% at one point.

Applied Materials (AMAT) fell 3.6% to $17.98 after it its EPS from operations were $0.30 versus $0.31 consensus estimates.

Clear Channel (CCU) rose 3.5% to $35.36 after receiving a $37.60 private equity buyout.

Readers Digest (RDA) rose a sharp 7% to $16.70 after getting a private equity buyout. And who says old media is dead?

Apple (AAPL) rose 1.9% to $85.61 after Cramer on MAD MONEY said the stock is not under any real threat for iPod dominance because of Microsoft's Zune launch and he said the stock is going to $100.00 by year-end.

Time Warner (TWX) rose 1.75% to $20.33 to another 52-week high close on optiosn activity on block volume today.

Irvine Sensores (IRSN) rose an unbelievable 123% to $2.39 after it said it won more than $16 million in new contract wins.

Rambus (RMBS) gained 30% to $21.72 on more speculation of an FTC resolution in its long-standing case.

Zoll Medical (ZOLL) rose a sharp 28% to $53.06 after its profit more than doubled.

The9 Ltd. (NCTY) rose 20% to $28.36 after beating earnings expectations from its Chinese "World of Warcraft" revenues.

Hott Topic (HOTT) rose 17% to $13.04 after beating earnings after yesterday's close.

Allot Communications (ALLT) rose to $13.81 after pricing its IPO at $12.00, above the $9.00 to $11.00 range.

KBR (KBR) rose to $20.75 after pricing its IPO at $17.00, at the top of its $15.00 to $17.00 range.

Hertz Global (HTZ) rose to $15.60 after it priced its IPO at $15.00, under the $16.00 to $18.00 range.

Evergreen Solar (ESLR) fell 4.5% to $8.53 after it filed to sell $250 million in mixed securities because of the crummy timing of this need to raise cash. They waited until it was close to the bottom rather than top of a longer-term range.

BEA Systems (BEAS) fell a sharp 16% to $13.13 after missing revenue projections after yesterday's close.

Cisco Systems (CSCO) rose $0.02 to $27.15 after it allocated another $7 Billion for share buybacks.

Lojack (LOJN) fell 4% to $15.51 after its CEO announced he would resign and work in a transition period for the already-named replacement from inside of the company.

Sears Holdinsg (SHLD) fell 5.5% to $169.26 after beating earnings estimates because of an earnings quality issue.

Jon C. Ogg
November 16, 2006
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