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    October 29, 2007

    Oil, solar sectors gain on record crude prices

    Filed under: Chevron, ExxonMobil, Administaff, Dell, Radio Shack, China Sunergy, Suntech Power Holdings, LDK Solar

    New York markets were higher at midday on Monday on investor hopes that the Federal Reserve will cut interest rates again when it meets later this week.

    The Dow Jones Industrial Average was 0.31 percent higher at mid-session, at 13,849.45, while the Nasdaq Composite was up 0.23 percent to 2,810.73 and the S&P 500 had added 0.24 percent to 1,538.95.

    The oil sector was also higher after crude oil hit a new record high at $93.20 early in the session.

    Chevron (NYSE: CVX) was up 1.6 percent to $93.11, while ExxonMobil (NYSE: XOM) gained almost 2 percent to $93.91.

    Gains in oil prices also sent shares in solar power-related companies higher.

    China Sunergy was up 21 percent to $11.07, while Suntech Power Holdings (NYSE: STP) gained 9.1 percent to $60.16 and LDK Solar (NYSE: LDK) was up 8.4 percent to $41.08.

    In the computers sector , Dell (NAS: DELL) added 2.6 percent to $29.72 on an upgrade from Goldman Sachs.

    In the retail sector, consumer electronics chain Radio Shack (NYSE: RSH) was up 5.8 percent to $20.75 after reporting a profit in the most recent quarter.





    October 10, 2007

    Reports, warnings send Wall Street lower at midday

    Filed under: Chevron, Alcoa, Administaff, Costco Wholesale, Boeing, International Paper

    Wall Street was mixed in midday trade after bad news from Boeing, a forecast on home sales for the year that was revised downward, and warnings from more than one company.

    The Dow Jones Industrial Average was 0.74 percent lower to 14,060.32 as it lost nearly all of the 120 points it gained on Tuesday, while the S&P 500 dropped 0.37 percent to 1,559.4.

    On the other hand, the Nasdaq Composite was slightly higher, up just 0.03 percent to 2,804.89.

    Aerospace group Boeing (NYSE: BA; TYO: 7661) was $3.10 lower to $98.35 after it said that the first deliveries of its 787 Dreamliner aircraft will be delayed by half a year.

    In the oil sector, Chevron (NYSE: CVX) dropped $1.89 to $90.92 after it said profits in the third quarter will be substantially below those in the previous quarter.

    International Paper (NYSE: IP) was down 76 cents to $36.30 after it said it won’t earn as much as previously projected from land sales.

    As the quarterly reporting period began, Alcoa (NYSE: AA) was fell $1.26 to $38.49 after it said that while profits were up by 3 percent, revenues in the quarter were lower.

    There was good news, however, in the retail sector as Costco (NAS: COST) gained $5.26 to $68.70 on results that were better than had been anticipated.

    Meanwhile, the National Association of Realtors issued a lowered forecast for the eighth time, saying that existing home sales will be down 10.8 percent from last year.





    September 28, 2007

    Wall Street lower on banks, oil

    Filed under: Chevron, ExxonMobil, ConocoPhillips, Wal-Mart, Home Depot, Administaff, Citigroup, Bank of America, JP Morgan, Best Buy, Big Lots

    Wall Street was lower in early afternoon trade on Friday.

    The Dow Jones Industrial Average was 0.1 percent lower to 13,898.88 at just past 1 p.m. in New York, while the Nasdaq Composite had dropped 0.22 percent to 2,703.63 and the S&P 500 was down 0.23 percent to 1,527.89.

    The Commerce department reported that personal spending was up 0.6 percent in August, more than expected even though incomes were only 0.3 percent higher, less than had been anticipated.

    Banks saw declines after the overnight rate banks charge each other to borrow money increased.

    Citigroup (NYSE: C) fell 21 cents to $46.67, while Bank of America (NYSE: BAC; TYO: 8648) was down 37 cents to $50.23 and JP Morgan Chase (NYSE: JPM; TYO: 8634) was 53 percent lower to $45.68.

    The oil sector also saw losses.

    ExxonMobil (NYSE: XOM) dropped 24 cents to $92.73, while ConocoPhillips and Chevron each fell 32 cents, to $87.64 and $93.21 respectively.

    The retail sector was mixed.

    While discount retailer Wal-Mart (NYSE: WMT) added 17 cents to $43.78, home improvement retailer Home Depot (NYSE: HD) dropped 18 cents to $32.58.

    Consumer electronics retailer Best Buy (NYSE: BBY) was down 36 cents to $45.84, while closeouts and overstocks retailer Big Lots (NYSE: BIG) was $1.16 lower to $29.94.





    September 21, 2007

    Wall Street sees gains on tech, oil shares

    Filed under: Chevron, ExxonMobil, ConocoPhillips, Administaff, Oracle, Texas Instruments, Google

    New York markets were higher just after noon on Friday, helped by news from the tech and oil sectors.

    The Dow Jones Industrial Average was 0.79 percent higher to 13,874.90, while the Nasdaq Composite had added 0.92 percent to 2,678.64 and the S&P 500 had gained 0.8 percent to 1,530.89.

    Trade was light as some were celebrating the Yom Kippur holiday. Software maker Oracle (NAS: ORCL) was up 89 cents to $21.93, it’s best in six and a half years, on a report that profits were up by 25 percent in its fiscal first quarter and the sale of new software licenses had risen by 35 percent.

    In the semiconductors sector, Texas Instruments (NSYE: TXN) gained $1.23 to $37 on an increased dividend and expanded share buyback program.

    Internet search engine Google (NAS: GOOG; LSE: GGEA) added $7.96 to $560.79, a new record high.

    Persistently high oil prices sent shares in oil companies higher.

    ConocoPhillips (NYSE: COP), was 63 cents higher to $89.03, while Chevron (NYSE: CVX) gained 91 cents to $95.07 and ExxonMobil (NYSE: XOM) added 93 cents to $93.02.





    August 29, 2007

    Oil sector higher on inventories declines

    Filed under: Chevron, ExxonMobil, ConocoPhillips, Wal-Mart, Home Depot, Administaff, Big Lots, Williams Sonoma, Jo-Ann Stores

    Wall Street was higher in early afternoon trade Wednesday as investors hunted bargains after Tuesday’s big declines.

    The Dow Jones Industrial Average added 0.85 percent to 13,152.73, while the Nasdaq Composite was 1.03 percent higher to 2,526.49 and the S&P 500 gained 0.94 percent to 1,445.83.

    The oil sector was higher after the US Energy Information Administration reported that crude oil and gasoline inventories both fell more last week than had been anticipated.

    ExxonMobil (NYSE: XOM) was $1.25 higher to $84.25, while ConocoPhillips (NYSE: COP) added $1.63 to $80.44 and Chevron (NYSE: CVX) gained $1.77 to $86.07.

    The retail sector also saw gains after companies at both ends of the spectrum revised their outlooks in a positive direction.

    Closeout and overstock retailer Big Lots (NYSE: BIG) was up $2 to $28.30, while upscale housewares, cooking utensils and food retailer Williams Sonoma (NYSE: WSM) gained $2.58 percent to $32.15.

    Elsewhere among retailers, discount retailer Wal-Mart (NYSE: WMT) added 27 cents to $43.67, while home improvement retailer Home Depot (NYSE: HD) was $1.13 higher to $36.18.

    Fabrics and crafts retailer Jo-Ann Stores (NYSE: JAS) was up $2.16 to $24.40.





    August 24, 2007

    Oil sector sees gains

    Filed under: Chevron, ExxonMobil, ConocoPhillips, Valero Energy, Centex, Administaff, Pulte Homes, Gap, Lennar, Beazer Homes, Aeropostale

    The New York equities markets were up in midday trade.

    The Dow Jones Industrial Average was 0.51 percent higher to 13,302.95, while the Nasdaq had added 0.55 percent to 2,555.8 and the S&P 500 was up 0.51 percent as well, to 1,469.92.

    With crude oil prices higher, the oil sector saw gains.

    ConocoPhillips (NYSE: COP) was 87 cents higher to $80.27, while ExxonMobil (NYSE: XOM) added $1.24 to $84.99, Chevron (NYSE: CVX) was up $1.41 to $86.89 and Valero Energy (NYSE: VLO) had gained $1.60 to $67.87.

    New data on new home sales left the house building sector mixed. The Commerce Department reported that new home sales were up 2.8 percent in July after having dropped by 4 percent in June.

    While the report seemed to ease fears that the housing slump could send the US economy into a recession, the fact remained that the sale of new homes was still 10.2 percent behind July sales last year.

    Centex Corp (NYSE: CTX) added 16 cents to $32.02 after the report was issued, but Lennar (NYSE: LEN) dropped 3 cents to $29.96, Beazer (NYSE: BZH) was down 14 cents to $10.10 and Pulte Homes (NYSE: PHM) fell 23 cents to $17.36.

    Clothing retailers were mixed on quarterly reports.

    Gap (NYSE: GPS) added $1.03 to $18.43 after it said its earnings were up 19 percent and announced a share buyback worth $1.5 billion, but Aeropostale (NYSE: ARO) dropped 66 cents to $22.46 after its results didn’t meet analyst expectations.





    August 21, 2007

    Oil shares drop on lower crude prices

    Filed under: Chevron, ExxonMobil, ConocoPhillips, Administaff, Merrill Lynch, AT&T, Sprint Nextel, Goldman Sachs, Morgan Stanley, JP Morgan, AMR

    Wall Street was higher in early afternoon trade Tuesday.

    The Dow Jones Industrial Average was 0.04 percent higher to 13,126.39, while the Nasdaq Composite had added 0.48 percent to 2,520.55 and the S&P 500 was up 0.25 percent to 1,449.22.

    The oil sector declined as oil prices fell below $70 per barrel in New York as Hurricane Dean weakened with no lasting damage to oil production facilities in the Gulf of Mexico.

    Chevron (NYSE: CVX) was 20 cents lower to $84.69, while ConocoPhillips (NYSE: COP) dropped $1.21 to $78.65 and ExxonMobil (NYSE: XOM) fell $1.28 to $83.25.

    The declining oil prices sent AMR (NYSE: AMR), the parent company of American Airlines, $1.34 higher to $23.55.

    Most banks were higher after Senate Banking Committee Chairman and Democratic presidential candidate Christopher Dodd said after a meeting with Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson that that Mr. Bernanke said that he was willing to do whatever necessary to calm the markets.

    This led some analysts to speculate that there will soon be a cut in US interest rates.

    While JP Morgan Chase (NYSE: JPM; TYO: 8634) was 1 cent lower to $46.48, Morgan Stanley (NYSE: MS) had added 31 cents to $62.97, Merrill Lynch (NYSE: MER; TYO: 8675) was up 74 cents to $75.64 and Goldman Sachs (NYSE: GS) had gained $3.74 to $176.50.

    The telecommunications sector was also higher.

    Sprint-Nextel (NYSE: S) was 15 cents higher to $18.41, while AT&T (NYSE: T) had added 46 cents to $39.11.





    July 27, 2007

    Pharma lower ahead of GlaxoSmithKline/FDA meeting

    Filed under: Chevron, ExxonMobil, Administaff, Pfizer, Merck, GlaxoSmithKline, Crocs Inc

    In New York on Friday the Dow Jones Industrial Average was down again by more than 100 points in midday trade, falling 0.96 percent to 13,344.56, while the Nasdaq Composite had dropped 0.89 percent to 2,576.32 and the S&P 500 was 1.12 percent lower to 1,466.1.

    The declines came even though the Commerce Department had released a report calling the US economy strong in the second quarter, with the GDP up at an annual rate of 3.4 percent, better than the 3.3 percent growth that had been expected.

    A gain to 90.4 by the Reuters/University of Michigan consumer sentiment index in July didn’t seem to impress investors, either.

    The oil sector was lower after Thursday’s quarterly report from ExxonMobil (NSYE: XOM), which showed profits off from predictions.

    ExxonMobil dropped 2.2 percent to $86.24.

    Chevron, which reported profits up in the most recent quarter, was also lower, falling 2.5 percent to $85.31.

    In the pharmaceuticals sector, GlaxoSmithKline (NYSE: GSK; LSE: GSK) was down 2.79 percent to $49.80 ahead of a Monday meeting with the US Food and Drug Administration to look at the safety of its Avandia diabetes drug, which has been implicated in increased risks of heart problems to patients.

    GlaxoSmithKline claims that Avandia is as safe as other diabetes drugs and that the study which found the risks was flawed.

    Elsewhere in the sector, Pfizer (NYSE: PFE) had dropped 0.41 percent to $24.05 while Merck (NYSE: MRK) was 2.69 percent lower to $50.57.

    On the other hand, shoe manufacturer Crocs Inc (NAS: CROX) hit a new record high share prices when it went as high as $59.71 before falling back to $55.25 in midday trade, a gain of 9.2 percent on its report that earnings tripled in the second quarter and on an increased full-year forecast.





    March 7, 2007

    Oil companies gain on crude oil price hike

    Filed under: Chevron, ConocoPhillips, Administaff, Cisco Systems, Google, IBM, Office Depot, American Eagle Outfitters

    The New York equities markets were mostly steady at midday. Both the Dow Jones Industrial Average and the S&P 500 were even, at 12,211.43 and 1,394.66 respectively, while the Nasdaq Composite was 0.3 percent lower to 2,377.45. Shares in oil companies were higher as crude oil prices gained after new inventories reports showed that crude stockpiles fell by more than expected last week. Investor sentiment was hurt, however, by data showing that job growth in the private sector was not as robust as had been hoped.

    In the oil sector, Chevron (NYSE: CVX) added 1.3 percent to $68.52, while ConocoPhillips (NYSE: COP) was 2.2 percent higher to $67.15. While crude oil inventories dropped significantly against expectations of an advance last week, most of the decline was due to bad weather on the US Gulf Coast and inventories are expected to rebound this week.

    Computer related stocks were mixed. Internet search engine Google (NAS: GOOG; LSE: GGEA) was down 0.3 percent at midday to $456.18 even though UBS (NYSE: UBS; SWX: UBSN; TYO: 8657) issued an upgrade to “buy”, from “neutral” on the company’s shares. IBM (NYSE: IBM) was 0.3 percent higher to $94.12 but Cisco (NAS: CSCO; SEHK: 4333) dropped 1 percent to $25.69 on reports that the two companies were collaborating on software development projects.

    In the retail sector, American Eagle Outfitters (NAS: AEOS) fell 3.8 percent to $28.69 after the clothing retailer did not meet earnings estimates. On the other hand, office supply retailer Office Depot (NYSE: ODP) added 2.1 percent to $34.35 on an upgrade from “hold” to “buy” from Deutsche Bank (NYSE: DB).





    January 23, 2007

    US oil higher as prices rise on cold weather

    Filed under: Chevron, ExxonMobil, ConocoPhillips, Administaff, Texas Instruments, Bank of America, Wachovia, Dupont, Tellabs, Alcatel-Lucent

    Wall Street saw gains at midday on Tuesday, with the Dow Jones Industrial Average up 0.35 percent to 12,520.91, the Nasdaq Composite 0.41 percent higher to 2,441.12, and the S&P 500 adding 0.34 percent to 1,427.75. The Russell 2000 index of small-caps was up even more, gaining 1.01 percent to 785.82. Volume at mid-session was at 712.8 million shares.

    The banking sector was mixed. Bank of America was 40 cents lower to $53.25 even though it said its loan business was up and that its purchase of credit-card company MNBA helped profit in the fourth quarter. Wachovia was up , but only by 4 cents to $56.3 even though issued a better than anticipated report.

    In the oil sector, higher prices due to forecasts of colder weather sent Chevron up 97 cents to $72.21, while ExxonMobil gained $1.12 to $74.03 and ConocoPhillips added $1.41 to $64.78.

    Telecommunications equipment makers saw declines. Tellabs was 4 cents lower to $10.06, while Alcatel-Lucent fell $1.17 to $13.03. Alcatel-Lucent blamed its inability to make a profit in its first quarter after consolidation on integration costs and weak sales.

    In the semiconductors sector, Texas Instruments added $1.17 to $29.76 on a positive quarterly report and several broker upgrades.

    Even though it reached analysts’ expectations, chemicals company DuPont dropped $1.23 to $48.87 on concerns about the higher cost of raw materials.





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