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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.





    August 27, 2007

    Housing data hurts Wall Street

    Filed under: Home Depot, Administaff, Apple Computers, Dell, Hewlett-Packard, IBM, Gateway

    The New York equities markets were lower in early afternoon trade on Monday after new data showed existing home sales dropped and inventories were higher in July.

    The Dow Jones Industrial Average was 0.22 percent lower to 13,349.93, while the Nasdaq Composite had dropped 0.49 percent to 2,564.19 and the S&P 500 fell 0.63 percent to 1,469.99.

    The National Association of Realtors said that existing home sales were 0.2 percent lower in July, while inventories were up by 5.1 percent to 4.59 million homes, a new record.

    In addition, home prices were down in July for the 12th consecutive time, by 0.6 percent from a year ago to a median price of $230,200.

    Sales were up in the West and Northeast but were static in the South and down by 2.2 percent in the Midwest.

    Meanwhile home improvement retailer Home Depot (NYSE: HD) added 61 cents to $35.29 after it reached a deal to sell its wholesale unit to a consortium of three private equity firms at a price that was lower than originally planned and requires Home Depot to guarantee $1 billion of the debt the buyers will assume to close the deal.

    In other deal news, Taiwan computer manufacturer Acer (TSEC: 2353; LSE: ACID) will pay $170 million for Gateway Inc (NYSE: GTW).

    Gateway added 60 cents, or 49 percent, to $1.80.

    Elsewhere in the computer sector IBM (NYSE: IBM) added 52 cents to $113.76, but Dell (NAS: DELL; SEHK: 4331) fell 4 cents to $27.70, Hewlett-Packard (NYSE: HPQ) dropped 7 cents to $48.03 and Apple (NAS: AAPL; LSE: ACP; FWB: APC) was down $1.66 to $133.64.





    July 3, 2007

    Ford Motor down on lower sales

    Filed under: Administaff, General Motors, Apple Computers, Dell, Ford Motor, Caterpillar, Kraft Foods

    On Wall Street on Tuesday markets were higher ahead of the Independence Day holiday. At mid-session, the Dow Jones Industrial Average had added 0.27 percent to 13,571.45, while the Nasdaq Composite gained 0.35 percent to 2,641.41 and the S&P 500 was 0.26 percent higher to 1,523.43.

    New data from the Commerce Department showed that factory orders were down only 0.5 percent in May, less than the 1 percent drop that had been expected by most analysts.

    Carmakers were lower, however, after Ford Motor (NSYE: F) said that sales had dropped in June on less demand for cars. Sales were down for cars, while light truck sales were up slightly. Ford was down 23 cents to $9.41. General Motors (NYSE: GM) was also lower, falling 22 cents to $37.80.

    In a related sector, Caterpillar (NYSE: CAT), which makes heavy equipment for construction and agriculture, was down $2.60 to $77.85 on a broker downgrade.

    Elsewhere, food processor Kraft Foods (NYSE: KFT) dropped 85 cents to $34.68 after it said that it had offered for part of French food group Groupe Danone.

    Computer makers were mixed. Apple (NAS: APPL; LSE: ACP; FWB: APC) added $5.26 to $126.52, while Dell (NAS: DELL; SEHK: 4331) dropped 28 cents to $28.65.





    February 1, 2007

    New York markets mixed at mid-afternoon

    Filed under: ExxonMobil, Administaff, Dell, Google, Lehman Brothers, Archer Daniels Midland

    At mid-afternoon in New York on Thursday, the equities markets were mixed ahead of the monthly report on employment, due on Friday. The Dow Jones Industrial Average added 0.1 percent to 12,667.03, while the S&P 500 had gained 0.3 percent to 1,442.45, and the Russell 2000 index of small and mid-caps was 0.5 percent higher to 804.57. Only the Nasdaq Composite was lower, falling 0.1 percent to 2,461.61.

    The Nasdaq was hurt by results from Google, which lost almost $9 per share to $492.69 by midday even though it reported a substantial increase in profits. Elsewhere in computer-related sectors, Dell Computer did better after it reported that chairman Michael Dell had returned to his role as chief executive. Even though it said that it wouldn’t make estimated profits and sales in the fourth quarter, Dell added 0.7 percent to $24.39.

    ExxonMobil provided what was probably the biggest talking point of the day as it reported that while profits were down 4 percent in the fourth quarter, profits for the full year were at $39.5 billion, the most ever reported by a US company, on revenues of $377.64 billion. Exxon shares added 1 percent to $74.82.

    In a related sector, Archer Daniels Midland, which produces ethanol among other activities, added 10.7 percent to $35.43 after it reported profits were up 20 percent.

    In the securities sector, Lehman Brothers added 2.4 percent to $84.22 after it announced that it has raised its dividend by 25 percent and upped its buy-back plan.





    January 3, 2007

    ExxonMobil drops 2.4 percent on lower oil prices

    Filed under: ExxonMobil, Wal-Mart, Home Depot, Administaff, Cisco Systems, Dell, Google, Intel, Yahoo, Verizon, Amazon

    Wall Street saw gains by midday on its first trading day of the new year, as the Dow Jones Industrial Average was up 0.9 percent to 12,575.06. The Nasdaq Composite was 1.5 percent higher to 2,454.23, while the S&P 500 added 0.7 percent to 1,428.15. At one point during morning trade, the Dow hit a new intra-day record of 12,580.35. Helping gains was a new manufacturing survey which was higher than had been anticipated.

    Brick and mortar retailers were up, with Wal-Mart 3 percent higher to $47.59 and Home Depot gaining 3.3 percent to $41.50 on the news that its CEO was parting ways with the company. On the other hand, internet retailer Amazon dropped 1.3 percent to $38.95 after Citigroup issued a downgrade from “hold” to “sell”.

    Tech-related stocks were up. Internet search engines saw gains. Yahoo added 2.6 percent to $26.19, while Google gained 2.9 percent to $474.02. In the telecommunications sector, meanwhile, Verizon was 2.9 percent higher to $38.33. In other computer-related gains, Cisco added 2.3 percent to $27.95 and semiconductor manufacturer Intel was 2.9 percent higher to $20.84. Computer maker Dell was 3.8 percent higher to $26.03.

    Declines in crude oil prices sent ExxonMobil shares down by 2.4 percent to $74.77.





    November 21, 2006

    Nasdaq rumored to be mulling raised bid for LSE

    Filed under: Administaff, Dell, Google, Nasdaq Stock Market, Boeing, Nucor, Oregon Steel Mills

    The New York equities markets were mixed at the mid-point in the session on Tuesday, with the Dow Jones Industrial Average and the Nasdaq Composite lower and the S&P 500 up slightly. The Dow was 0.02 percent lower to 12,314.54, while the Nasdaq had dropped 0.1 percent to 2,449.87. Meanwhile, the S&P was 0.08 percent higher to 1,401.57.

    Google’s share price rose above $500 for the first time as it added 1.8 percent to $504.13 after going as high as $505.72 earlier in the day. Google has gained 37.6 percent since the beginning of August.

    Boeing was up 1.6 percent to $90.54 on the news that Korean Air has placed an order for 25 aircraft. The order was said to be worth $5.5 billion dollars.

    Oregon Steel Mills dropped 1.2 percent to $63 after its 8.2 percent gain on Monday after it was announced that Russian company Evraz Group will buy the steel maker. Elsewhere in the sector, share prices were up. Nucor added 2.5 percent to $58.88.

    Dell Computer was 1.1 percent higher to $24.92 ahead of its quarterly report, due after trade closes for the day. The report, which was originally supposed to have been released last Thursday, is widely expected to show a drop in earnings per share of almost 40 percent.

    Nasdaq dropped 0.9 percent to $37.37 amid speculation that it is thinking about raising its offer for the London Stock Exchange after its most recent bid was rejected on Monday.





    November 16, 2006

    Sears drops 5.4 percent on earnings report

    Filed under: Sears, Administaff, Dell, Hewlett-Packard, Applied Materials, Google, Clear Channel Communications, Readers Digest

    The New York equities markets were higher in the afternoon on Thursday, with the Dow Jones Industrial Average up 0.4 percent to 12,299.57 after going as high as 12,325.91 earlier in the session, a new all-time high. The Nasdaq Composite had added 0.2 percent to 2,447.67, while the S&P 500 was 0.3 percent higher to 1,400.89.

    Dell Computer dropped 3.5 percent to $24.86 after it delayed its preliminary third-quarter report due to a Securities and Exchange Commission inquiry into the company’s accounting practices. On the other hand, Hewlett Packard added 0.7 percent to $40.07 ahead of its quarterly report, due to be released after the close of trade.

    Elsewhere among technology-related sectors, Applied Materials was 4.2 percent lower to $17.87 on a warning that sales will decline on the order of 5 to 10 percent. Internet search engine Google, however, added 0.8 percent to $495.80.

    There was bids news in the media sector. Clear Channel Communications, the radio station operator, added 3.9 percent to $35.46 and went as high as $35.88 after it agreed to be acquired by a group of private equity firms for $19 billion. Meanwhile, Readers Digest added 7.8 percent to $16.69 after it agreed to be purchased by a group of investors.

    In the retail sector, Sears dropped 5.4 percent to $169.51 after earnings were lower than had been anticipated.





    November 9, 2006

    Oil sector sees gains on prices

    Filed under: Chevron, ExxonMobil, Administaff, Apple Computers, Walt Disney, Cisco Systems, Dell, Pfizer, Johnson & Johnson, Viacom, News Corporation, HealthSouth

    Technology-related sectors were up in New York on Thursday but health care and pharmaceuticals companies were lower, resulting in mixed results on Wall Street at midday. The Dow Jones Industrial Average was 0.3 percent lower to 12,142.37, while the Nasdaq Composite added 0.42 percent to 2,395.03 and the S&P 500 dropped 0.04 percent to 1,385.12.

    In health sectors, Johnson & Johnson was 1.25 percent lower to $70.29 and Pfizer fell 1.8 percent to $26.14. HealthSouth was 6.1 percent lower to $20.65 after its report for the third quarter showed losses related to price pressure in all its units, while it had fewer patients in its acute-care hospital unit. Elsewhere, 3M was a bit lower to $79.24 on the news that it is selling its pharmaceuticals interests.

    Cisco Systems added 7.3 percent to $26.93 on a report that its net income was $1.61 billion in the quarter. Computer maker Dell gained 2.8 percent to $24.85 after it said it will expand its customer call center in Ottawa, adding 1,000 employees. Apple Computer, meanwhile, was 1.64 percent higher to $83.80 on reported interest in its new iPod Shuffle.

    The oil sector was higher on gains in the price of crude oil, with ExxonMobil and Chevron each adding 1.1 percent, to $74.64 and $70.29 respectively.

    The media sector was mixed. News Corporation added 0.2 percent to $21.90 on a better than anticipated quarterly report, while Disney gained 1.2 percent to $33.48 ahead of its report, due later in the day. Viacom, however, was 2.2 percent lower to $38.81 after its third quarter report showed that profits were down by 16 percent in the third quarter.





    November 2, 2006

    Dell Computer up 3.3 percent

    Filed under: Wal-Mart, Administaff, Dell, Intel, Costco Wholesale, Kohl's, Target, JC Penney, Nordstrom, Dillard's

    The New York equities markets were lower at mid-session on Thursday, with the Dow Jones Industrial Average down 0.3 percent to 112,001.01, the Nasdaq Composite 0.1percent lower to 2,331.84, and the S&P 500 falling 0.2 percent to 1,365.19. Earlier in the day, the Dow fell below the 12,000 level for a time.

    Much of the declines was due to a mixed retail sector, as several discount retailers failed to live up to analyst expectations. While Costco held steady at $52.91, Kohl’s dropped 0.6 percent to $70.65. Wal-Mart fell 1.2 percent to $48.27 on sales that grew by only 0.5 percent in October and a forecast of flat sales in November. Dillard’s and Target each dropped 1.5 percent, to $29.34 and $56.82 respectively.

    On the other hand, high-end retailers showed good sales in October saw gains in share prices. JC Penney was 1.3 percent higher to $76.11, while Nordstrom gained 1.6 percent to $47.05.

    Intel dropped 1.6 percent to $20.82 on a downgrade from “buy” to “neutral” from Merrill Lynch. In issuing it’s remarks, the broker cited excess capacity and weakening demand. But in other computer-related stocks, Dell Computer added 3.3 percent to $24.82 on an upgrade from “sell” to “neutral” from Goldman Sachs.





    September 11, 2006

    Wall Street down on dropping commodities prices

    Filed under: Chevron, ExxonMobil, US Steel, Alcoa, Administaff, Dell, Newmont Mining, Phelps Dodge, Genentech, Archer Daniels Midland, Nucor, Barrick, Freeport McMoran

    Declines in the oil and mining sectors sent Wall Street lower by midday on Monday. The Dow Jones Industrial Average, the Nasdaq Composite, and the S&P 500 were all 0.1 percent lower at mid-session, with the Dow at 11,384.27, the Nasdaq at 2,163.86, and the S&P down to 1,297.32.

    Concerns that economic growth around the world could slow sent metals prices lower, hurting miners. Newmont Mining was off by 4.3 percent to $46.11 and Barrick Gold was 4.5 percent lower to $29.97, while Freeport McMoran dropped 4.9 percent to $55.44 and Phelps Dodge fell 5.4 percent to $86.16.

    Steelmakers were also hurt by dropping commodities prices. US Steel was 4 percent lower to $57.65 and Nucor dropped 5 percent to $47.19. Aluminium producer Alcoa also saw declines, falling 4.5 percent to $27.39.

    Oil prices were down for the sixth straight session as OPEC declined to lower production levels and Iran agreed to temporarily halt its uranium enrichment activities. ExxonMobil was 2.5 percent lower to $65.17, while Chevron dropped 3.7 percent to $61.83. Ethanol manufacturer Archier Daniels Midland was also affected, falling 2.8 percent to $38.50.

    Dell Computer was also lower at midday after it said it would suspend its share buyback and delay its quarterly report because financial regulators are looking at its records. Dell was 1.4 percent lower to $21.34. Also the victim of bad news, Genentech dropped 6.3 percent to $76.88 after it said that the Food and Drug Administration had asked for more information about the safety of its Avastin cancer drug before it would approve it for use by breast cancer patients.





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