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    September 12, 2006

    Goldman Sachs higher despite decline in profits

    Filed under: McDonalds, DR Horton, Administaff, Pulte Homes, Applied Materials, Broadcom, Goldman Sachs, Kroger, Best Buy

    Earnings reports helped the New York equities markets to advances by mid-session on Tuesday. The Dow Jones Industrial Average was up 0.5 percent to 11,455.83, while the Nadsaq Composite was 0.9 percent higher to 2,192.96 an the S&P 500 had added 0.6 percent to 1,306.90.

    Flat-panel television sales helped Best Buy to second quarter earnings that were higher than had been expected. The electronics retailer was 5.8 percent higher to $50.54. These results, with their implication that consumers are spending more than had been assumed, helped out the homebuilding sector. Pulte added 4.5 percent to $30.83, while DR Horton gained 4.7 percent to $23.41.

    McDonald’s reported a 6 percent rise in sales in August, helping its shares to add 2.3 percent to $37.96, its highest level in six years.

    Semiconductors were up after a sector-wide upgrade from Credit Suisse. Broadcom was 4.2 percent higher to $27.58, while Applied Materials, which makes chip making equipment, added 4.4 percent to $17.15.

    In the banking sector, Goldman Sachs was 3.3 percent higher to $156.01 even though profits fell in its third quarter. Despite the decline, profits still were higher than analysts had expected.

    Positive results did not help Kroger, however. Even though the supermarket chain said that earnings were up in its second quarter, profit margins were lower than some analysts had expected, sending shares 4.2 percent lower to $23.07.





    June 20, 2006

    Miners up on Wall Street

    Filed under: Continental Airlines, Administaff, Newmont Mining, Safeway, Costco Wholesale, Nvidia, Phelps Dodge, Circuit City, SanDisk, Barrick, Kroger, Freeport McMoran, Kellog, Campbell Soup, Heinz, JetBlue

    The New York equities markets were mixed at midday on Tuesday after having suffered losses in the past two sessions. The Dow Jones Industrial Average was 0.7 percent higher at 11,022.31 and the S&P 500 had gained 0.6 percent to 1,247.22. The Nasdaq Composite, however, was 0.5 percent lower at 2,121.01.

    Retailers were up on the day. Supermarket chain Safeway was up 2.6 percent to $25.06, while rival Kroger had added 5.3 percent to $20.48 on higher than forecast earnings in its first quarter. Meanwhile, discount reatiler Costco gained 2.7 percent to $55.00 on an upgrade from “neutral” to “overweight” from JPMorgan.

    Companies that produce food staples were up as well. Kellog, the cereal maker, was up 1 percent to $47.34, while Campbell Soup added 1.2 percent to $35.93 and condiment maker Heinz gained 1.3 percent to $41.65.

    Miners, too, saw advances. Newmont Mining was up 1.9 percent to $50.10. Phelps Dodge gained 2.4 percent to $78.88, while Freeport McMoran added 2.6 percent to $48.20 and Barrick Gold advanced by 2.9 percent to $28.02.

    In the airline sector, Continental Airlines was up 3.1 percent to $27.72, while JetBlue gained 5.2 percent to $12.13 on positive comments from Morgan Stanley.

    The semiconductor sector, however, saw losses, as Sandisk lost 2.1 percent to $51.38 and Nvidia dropped 2.5 percent to $20.48.

    Electronics retailer Circuit City was down 0.9 percent to $28.36 after Monday’s statement that higher interest rates are likely to affect its sales.





    June 7, 2006

    Retail, homebuilders help New York markets

    Filed under: Alcoa, DR Horton, Administaff, Pulte Homes, Pfizer, Schlumberger, Target, Occidental Petroleum, Abbott Laboratories, Kroger, Supervalu, Dupont, Dow Chemical, Freeport McMoran

    Falling crude oil prices and gains in the retail and homebuilding sectors helped the New York equities markets to gains by the middle of the day on Wednesday after two days of losses. The Dow Jones Industrial Average had climbed 0.6 percent to 11,065.27, while the Nasdaq Composite had added 0.9 percent to 2,181.50 and the S&P 500 was up 0.6 percent to 1,271.15.

    The pharmaceuticals sector was up after GlaxoSmithKline said it was considering purchasing Pfizer’s consumer unit if the right price could be reached. This sent shares in Pfizer up 1.1 percent to $24.11. In addition, Abbott Labs gained 1.9 percent to $43.05.

    Retailers were up, led by a 3.6 percent gain to $49.31 for Target. In supermarkets, Kroger added 1.9 percent to $20.13, while Supervalu gained 2 percent to $29.39.

    After a dismal day on Tuesday, homebuilders were up on the day. DR Horton gained 1.5 percent to $23.75. Pulte, meanwhile, was up 1.9 percent to $28.65.

    The chemicals sector was not so fortunate after Deutsche Bank issued downgrades to Dupont and Dow Chemical. Dow was down 0.5 percent to $39.37 and Dupont lost 1.3 percent to $41.64.

    While the drop in crude oil prices helped investor sentiment, it did not help the energy sector. Schlumberger and Occidental Petroleum each had lost 1.8 percent by mid-session, to $62.79 and $96.03 respectively.

    In much the same way, falling commodities prices sent shares in companies dealing in metals downward. Alcoa was down 2.4 percent to $29.97, while Freeport McMoran dropped 3 percent to $51.22.





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