DJIA 12,283.85; Up 89.72 (0.74%)
NASDAQ 2,448.39; Up 35.18 (1.46%)
S&P500 1,409.12; Up 12.41 (0.89%)
10YR-Bond 4.433% Up 0.008
NYSE Volume 2,723,529,000
NASDAQ Volume 1,942,218,000
Pfizer (PFE) was the biggest stock today after they unexpectedly halted late stage trials of its new cholesterol drug because of a higher death risk. PFE fell 10.6% to $24.90, but the DJIA component traded 288 million shares.
Onyxx Pharma (ONXX) fell a sharp 30% to $12.18 after its cancer drug (already approved for kidney cancer) failed to meet endpoints for skin cancer studies.
Mellon Financial (MEL) rose as it is being acquired in a merger of equals with Bank of New York (BK); both rose as BK rose 12% to $39.75 and MEL rose 7% to $42.78.
LSI Logic (LSI) fell 13% to $9.12 (on 52 million shares) after announcing it was doing a leveraged acquisition in all stock for Agere (AGR); AGR rose 8.5% to $19.30.
Station Casinos (STN) rose 22% to $84.90 after an $82 buyout from an investment group led by CEO Fertitta.
Landstar (LSTR) fell 5% to $42.14 after lowering guidance from weaker orders.
Openwave (OPWV) rose 8% to $8.95 after it filed its financials and disclosed $182M in charges over options.
Allegheny Tech (ATI) rose 6.7% to $93.92 to another high close after Cramer said this stock has along way to go.
Novellus (NVLS) rose 0.4% to $32.45 after narrowly raising estimates.
Baidu.com (BIDU) rose 3% to $114.88 after the WSJ said the company may compete against Yahoo and Google in Japan.
IBM (IBM) rose 2.5% after the cover of Barron’s featured it as about to really move.
Dell (DELL) fell another 1.5% after an analyst report in barron’s indicated that DELL had met earnings many times through options and warrants manipulations.
Jon C. Ogg
December 4, 2006
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