DJIA 12,221.93; Down 4.80 (0.04%)
NASDAQ 2,431.77; Down 0.46 (0.02%)
S&P500 1,400.65; Up 1.17 (0.08%)
10YR-Bond 4.458% Down 0.063
NYSE Volume 3,287,570,000
NASD Volume 1,999,605,000
The market digested a Chicago Purchasing managers reading under estimates and under the 50.0 reading (signalling economic slowing) for the first time since April of 2003. It also saw natural gas inventories fall some 32 billion cubic feet because of the sideways coldfront dumping snow across the central US and expected to hit the eastern seaboard this weekend.
Nortel (NT) experienced huge trading before it went ex-split to reflect a 1 for 10 reverse stock spli; NT closed flat at $2.15 on 67 million shares.
GM (GM) fell almost 1% to $29.22 after Kerkorian sold out of the rest of his position.
Lucent (LU) dominated trading as it become Alcatel-Lucent (ALU) tomorrow closing up $0.01, but on some 318 million shares. Bye bye LU.
Netflix (NFLX) traded up 0.3% to $29.28 after word that it would get a 60-minutes special.
Thestreet.com (TSCM) traded up 11% to $9.78 the day after it terminated radio pact to focus on WEB-TV on thestreet.com website.
Ingram Micro (IM) fell almost 1% to $20.38 despite reaffirming guidance.
Pfizer (PFE) rose 1.5% to $27.49 after the DJIA component raised guidance from $2.00 street estimates to $2.05 and target high single-digit EPS growth for 2007 & 2008.
Digital Insight (DGIN) rose 15% to $38.15 after Intuit (INTU) acquired the company for $39.00 per share.
IAC/Inteactive (IACI) rose 1.3% to $36.49 ahead of being added to the S&P 500 Index today.
Research in Motion (RIMM) rose 3.5% to $138.83 after Goldman Sachs became the highest US brokerage target at $170 today.
Wal-Mart (WMT) fell another 1.7% to $46.10 after lowering December forecasts to flat to +1% for same store sales.
Abercrombie & Fitch (ANF) fell only 3% to $67.44 after same store sales showed a 3% drop instead of a gain.
American Eagle Outfitters (AEOS) fell 3.7% to $45.18 after posting 14% s-s-s gains, but the street was a tad higher.
Time Warner (TWX) fell 0.8% to $20.16 after Bear Stearns cut the media sector to a Market perform ahead of 2007.
Sharper Image (SHRP) fell 1.8% to $9.69 as sales were down over 20% at same store sales.
Pier One (PIR) fell 2% to $6.65 after same store sales fell 15%.
Jon C. Ogg
November 30, 2006
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