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Contributors: Douglas McIntyre Jon C. Ogg

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Tuesday, November 07, 2006

Market Wrap (Nov. 7, 2006)

DJIA 12,156.77; Up 51.22 (0.42%)
NASDAQ 2,375.88; Up 9.93 (0.42%)
S&P 500 1,382.84; Up 3.06 (0.22%)
10YR-Bond 4.659% Down 0.05
NYSE Volume 2,673,233,000
NASD Volume 2,065,302,000

We had another strong day, sinaling that voters didn't stop being investors on election day. The federal reserve said that September borrowing fell 0.6% in September aftera 4.6% increase in August, but the actual number was a $1.2 Billion fall-off in activity.

Despite fears of voting machine fraud, hacks, and problems, Diebold (DBD) managed to gain another 1% to close at $45.49.

Toll Brothers (TOL) lowered guidance and said there was no impending rapid turnaround on the immediate horizon, but with most bad news priced in to homebuilder stocks the shares closed down only $0.01 at $28.04.

D.R.Horton (DHI) fell 2% to $22.43 after Merrill Lynch cut its ratinsg down to a Sell.

Boeing (BA) rose 5.4% to $84.85 as FedEx decided to cancel its Airbus A380 planes over delays in favor of Boeing 777's.

Adolor (ADLR) fell another 5.2% to $7.29 the day after the FDA requested more data for its bowel disorder drug.

Microsoft (MSFT) rose 0.4% to $28.95 after it signed TV and movie distributor deals for downloading via Xbox live with Viacom, Paramount, Time Warner, and others.

Jet Blue (JBLU) rose 5.3% to $13.09 after Raymond James raised its rating to Outperform. Southwest Air (LUV) was also raised to Overweight, so LUV rose 2.7% to $15.34.

Targeted Genetics (TGEN) rose 34.9% to $2.90 after Biogen-Idec raised its stake in the company.

Rural Cellular (RCCC) rose 22% to $11.61 after posting narrower losses than expected.

Headwaters (HW) fell amost 15% to $21.47 after on lower earnings, despite the numbers being above expectations.

NorTel (NT) fell 10.88% to $2.13 after declaring a 1-10 reverse stock split after losses narrowed on above plan revenues.

Despite beating earnings expectations, Anadarko Petroleum (APC) fell 2.1% to $47.33.

E*Trade (ET) rose 1.6% to $23.64 after Prudential started it with an Overweight rating and showed it was more favorable than Ameritrade (AMTD).

Krsipy Kreme (KKD) rose another 6.5% to $10.21 after Jim Cramer on last night's MAD MONEY said the analyst that raised it at Prudential was not only not conflicted, but he was a class act.

Cyberonics (CYBX) fell 0.37% to $18.64 after the company received a request from the SEC over for more data on information releases.

Jon C. Ogg
November 7, 2006
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