DJIA 12,305.82; Up 54.11 (0.44%)NASDAQ 2,449.06; Up 6.31 (0.26%)S&P500 1,399.76; Up 3.19 (0.23%)10YR-Bond 4.655% Up 0.04NYSE Volume 2,738,514,000NASD Volume 2,031,971,000Today was another record high on the DJIA. We had another drop in Consumer Prices and natural gas innevtories coming out at another surplus helped fall $2.50 to $56.26. We learned of the death of famed economist (socio-economist) Milton Friedman today.Dell (DELL) was the big shocker as it delayed earnings and said its SEC investigation has now gone to formal. DELL shares fell 2.5% to $25.10, but shares had been down 5% at one point.Applied Materials (AMAT) fell 3.6% to $17.98 after it its EPS from operations were $0.30 versus $0.31 consensus estimates.Clear Channel (CCU) rose 3.5% to $35.36 after receiving a $37.60 private equity buyout.Readers Digest (RDA) rose a sharp 7% to $16.70 after getting a private equity buyout. And who says old media is dead?Apple (AAPL) rose 1.9% to $85.61 after Cramer on MAD MONEY said the stock is not under any real threat for iPod dominance because of Microsoft’s Zune launch and he said the stock is going to $100.00 by year-end.Time Warner (TWX) rose 1.75% to $20.33 to another 52-week high close on optiosn activity on block volume today.Irvine Sensores (IRSN) rose an unbelievable 123% to $2.39 after it said it won more than $16 million in new contract wins.Rambus (RMBS) gained 30% to $21.72 on more speculation of an FTC resolution in its long-standing case.Zoll Medical (ZOLL) rose a sharp 28% to $53.06 after its profit more than doubled.The9 Ltd. (NCTY) rose 20% to $28.36 after beating earnings expectations from its Chinese “World of Warcraft” revenues.Hott Topic (HOTT) rose 17% to $13.04 after beating earnings after yesterday’s close.Allot Communications (ALLT) rose to $13.81 after pricing its IPO at $12.00, above the $9.00 to $11.00 range.KBR (KBR) rose to $20.75 after pricing its IPO at $17.00, at the top of its $15.00 to $17.00 range.Hertz Global (HTZ) rose to $15.60 after it priced its IPO at $15.00, under the $16.00 to $18.00 range.Evergreen Solar (ESLR) fell 4.5% to $8.53 after it filed to sell $250 million in mixed securities because of the crummy timing of this need to raise cash. They waited until it was close to the bottom rather than top of a longer-term range.BEA Systems (BEAS) fell a sharp 16% to $13.13 after missing revenue projections after yesterday’s close.Cisco Systems (CSCO) rose $0.02 to $27.15 after it allocated another $7 Billion for share buybacks.Lojack (LOJN) fell 4% to $15.51 after its CEO announced he would resign and work in a transition period for the already-named replacement from inside of the company.Sears Holdinsg (SHLD) fell 5.5% to $169.26 after beating earnings estimates because of an earnings quality issue.Jon C. OggNovember 16, 2006
Market Wrap (Nov. 16, 2006)
