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Contributors: Douglas McIntyre Jon C. Ogg

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Thursday, November 02, 2006

NOV. 2, 2006 Market Wrap

DJIA 12,018.54; Down 12.48 (0.10%)
NASDAQ 2,334.02; Down 0.33 (0.01%)
S&P500 1,367.34; Down 0.47 (0.03%)
10YR-Bond 4.596%; Up 0.035
NYSE Volume 2,632,174,000
NASD Volume 1,858,429,000

Novell (NOVL) gained a sharp 15% to $6.79 on 46+ million shares after word surfaced that Microsoft would sign a SuSe Linux support agreement with its old rival.

Red Hat (RHAT) fell 2% more to $16.10 on competition, but VA Software (LNUX) gained 5.2% to $4.22. SCO Group (SCOX) also gained 2.5% to $2.46.

Intel (INTC) fell 1.6% to $20.68 after Merrill Lynch downgraded the stock.

Wal-Mart (WMT) fell 1.1% to $48.29 after forecasting November s-s-s would be FLAT, under expectations.

Home Depot (HD) fell 0.4% to $37.20 despite its compensation committee tying Chairman/CEO Nardelli's pay to more of a performance structure.

EDS (EDS) gained 0.6% to $25.80 after beating earnings yesterday.

Transocean (RIG) also traded up 1.6% to $72.43 after it exceeded earnings expectations.

Midstate Bank (MDST) rose 24% to $36.17 after getting a $37 buyout from Rabobank.

Pioneer Drilling (PD) rose 1.66% to $97.87 after posting EPS of $0.47 vs. $0.44e.

Southwest Air (LUV) fell 1.2% to $14.75 after it noted that its load factor fell y/y/y from 70.4% to 70.1%.

Foot Locker (FL) rose 1.85% to $23.17, despite guidance being somewhat soft. Payless Shoe (PSS) rose 4% to $27.22 after raising guidance.

Station Casinos (STN) fell 2.7% to $59.70 after it missed earnings expectation.

Las Vegas Sands (LVS) fell 5% to $72.43 after beating estimates but disclosing that gamblers didn't leave enough.

Globalstar (GSAT) rose slightly to $17.52 over its $17.00 IPO pricing as the company re-emerged as a public company after bankruptcy.

Cryolife (CRY) rose over 5% to $6.23 after earnings and outlining new uses for BioGlue and other products.

Telus (TU) rose 3.5% to $50.35 after UBS raised the shares to Buy after yesterday's weakness from Canadian tax threats over royalty trusts.

XM Satellite Radio (XMSR) rose after it signed an expanded music deal with Cingular.

CVS (CVS) and Caremark (CMX) each fell again the day after their strange merger. CVS fell 0.55% to $28.90 and CMX fell 1.3% to $47.55. Why are they doing this merger?

Have a nice day.

Jon C. Ogg

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