US Stock Market Wrap (DEC 6, 2006)

December 6, 2006 by Douglas A. McIntyre

DJIA    12,309.25; Down 22.35 (0.18%)
NASDAQ    2,445.86; Down 6.52 (0.27%)

S&P500    1,412.90; Down 1.86 (0.13%)
10YR-Bond    4.481%     Up 0.039
NYSE Volume    2,638,164,000
NASD Volume    1,857,818,000

Shares of Ford (F) Fell another 4.1% to $7.36 after the company has one massive borrowing plan to the tune of $22 to $23 BILLION.  Convertible arb players drove the stock lower shorting to hedge their note purchases.  Maybe it is a “burrowing plan” instead. Cramer said this one can go to $6.50.

Apple (AAPL) fell 1.6% to $89.83 on WSJ reports of iPods breaking after hard use and the like, but this was a fairly hogwash report as this is already known and has to be expected.

(DOCC) Docucorp gets $10 buyout offer; shares rose to $9.76, up 30%.

(IDCC) Interdigital fell 7% to $30.50 on lowered guidance.

(NOVL) Novell fell 5% to $5.99; EPS beat target but revenues and revenue guidance were soft.

(PLAB) Photronics rose 2.5% to $16.18; earnings posted at $0.21 EPS vs $0.16e.

(PNRA) Panera said s-s-s DEC will be 1.4% instead of 4%; fell 3% to $56.94.

(TBL) Timberland up 3% to $32.73 after Cramer said VFC should acquire it.

(WRSP) WorldSpace selling 3M shares from founders; stock fell 2.6% to $4.79.

(YHOO) Yahoo! restructuring top management; Susan Decker dropping CFO role to move to head of Ad unit and they are canning the COO.  Semel is still CEO for now.  Stock down 2% to $26.86.

Hain Celestial (HAIN) fell 3.7% to $29.80 after its rating was cut to Neutral at UBS.

KBW, Inc. (KBW) rose 0.6% to $28.76 after posting a large y/o/y rise in EPS income, although there are no estimates on teh recent IPO.

Altera (ALTR) widened out its prior 2-5% sequential revenue drop to a new range of a 5-7% drop, but the stock was only down 0.4% to $20.21.  What does that tell you about the stock?

Novellus (NVLS) fell 4.78% to $32.88 after Goldman Sachs cut its rating to a Sell.

General Electric (GE) fell 0.4% too $35.11 but had been positive before end of day selling after Goldman Sachs put it on its Americas Conviction Buy List.

GO America (GOAM) rose 37% to $7.80 after it unveiled a new expansive web service for the Deaf……..I guess they won’t as “Can you hear me now!?”

Halozyme (HTI) shares soared 59% to $4.55 on major licensing pact with Roche.

Biovail (BVF) rose 9.5% to $20.72 after the CFO was leaving and will pay more to shareholders.

Rite-Aid (RAD) rose another 6% to $5.11 on hopes that Eddie lampert may be interested, plus cramer was out on the name.

Jon C. Ogg
December 6, 2006