US Stock Market Close (DEC 7, 2006)
DJIA 12,278.41; Down 30.84 (0.25%)
NASDAQ 2,427.69; Down 18.17 (0.74%)
NYSE Volume 2,700,656,000
NASD Volume 2,045,004,000
After a mix & match of comments on a potential XM Satellite & Sirius Satellite, XMSR traded up 0.75% to $14.81 and SIRI traded up 1.3% to $3.88.
Level 3 (LVLT) rose another 3.8% to $5.75 after Cramer was postive again on out and interviewed the CEO. Last night Cramer said it was his best stock under $10.00 out there.
Despite some indications that the FDA would keep the drug coated stents going as they are now, Boston Scientific (BSX) fell 0.3% to $16.94 and J&J (JNJ) rose a whopping $0.03 to $66.06.
Apple (AAPL) fell another 3.1% to $87.04 after research reports indicate that Apple’s iPhone may be delayed by several months.
Eli Lilly (LLY) fell 1.6% to $53.99 as their longer-term guidance is essentially under street targets.
Arena Pharma (ARNA) fell 1.7% to $13.21 ahead of the pricing of its 8M share secondary offering set for tonight.
Vanda Pharma (VNDA) rose a whopping 68% to $26.15, its highest close by far since its IPO, on very positive Schizophrenia studies. Now Schizo’s might not have to say, “I’m a schizophrenic, and so am I.”
Coca-Cola (KO) rose 0.7% to $48.72 after naming a new COO.
AU Optronics (AUO) fell 2.5% to $13.38 after lowering shipment targets.
Corning (GLW) fell almost 4% to $21.05 after comments out of the company were sort of taken by the street that the company was seeing a slowing in demand.
Insmed (INSM) fell another 12% to $1.15 after confirming the patent case loss to Genentech.
Akamai (AKAM) rose 7% to $53.38 on a positive boutique report.
Alcatel-Lucent (ALU) rose 2.6% after Goldman Sachs added it to the Conviction Buy List; although estimates lowered for 2006 and raised for 2007.
The biggest of the little pigs, Gateway (GTW), rose 2% to $1.90 after the company removed a rights program and made it easier for directors to be replaced.
Jon C. Ogg
December 7, 2006