DJIA 12,108.43; Up 5.13 (0.04%)NASDAQ 2,389.72; Up 13.71 (0.58%)S&P500 1,380.90; Up 2.57 (0.19%)10YR-Bond 4.586% Down 0.047NYSE Volume 2,305,280,000NASD Volume 1,649,479,000This morning Motorola announced it would buy privately held Good technology for its mobile entreprise email solutions. Because of increase competition potentiality both R-I-M (RIMM) fell 0.5% to $124.11 and Palm (PALM) fell 2% to $14.61.Hewitt & Associates (HEW) fell 1.7% to $25.26 after missing earnings expectations.Tanox (TNOX) rose 44% to $19.75 after Genentech (DNA) announced it would acquire the company for $20.00 per share.Autobytel (ABTL) rose 1.5% to $3.30 after earnings because it signed to be AOL’s exclusive platform for online local search and price quotes for auto dealerships.NYSE (NYX) rose almost 10% to $94.40 after Jim Cramer last night said it would Triple in the next two-years.Hansen natural (HANS) rose 6.3% to $26.45 despite Goldman Sachs taking it off of their pristine Conviction Buy List.Pacific Sunwear (PSUN) rose 7.5% to $18.56 after beating earnings expectations.Dolby Laboratories (DLB) rose 34% to $26.50 after beating earnings and raising guidance.Capella Education (CPLA) rose to 25% to $25.11 after pricing its IPO at $20.00.California Pizza Kitchen (CPKI) fell 1.3% to $31.15 after it warned that earnings would fail to meet expectations.Answers Corp (ANSW) fell 12.5% to $12.70 on weak Q3 earnings and on weak Q4 guidance.Scottish Re (SCT) fell 20% to $6.40 after wider losses have pushed the auction process for the company out several weeks.JBHunt (JBHT) rose 3.6% to $22.34 on hopes that the company may be a takeover target since Swift is in play.Gap Stores (GPS) rose 0.7% to $20.16 despite Merrill Lynch downgrading the stock to Neutral.Despite NVIDIA (NVDA) beating earnings and raising guidance, the shares fell 2.4% to $34.44 on profit taking and on a valuation downgrade.ON Assignment (ASGN) rose 9% to $11.08 after its pending secondary offering priced at $10.00, $0.15 under yesterday’s close.PeopleSupport (PSPT) rose 1.9% to $20.70 after its secondary offering priced at $20.00.Metabolix (MBLX) rose to close at $15.52 after its higher shares of 6.8 million shares priced at $14.00, the top of the $12 to $14 range.Solectron (SLR) rose 6% to $3.47 after it reaffirmed Q4 revenue and earnings guidance.ACA Capital Holdings (ACA) fell to $12.80 after its 6.8+ million share IPO priced at $13.00, under its original target.NGAS Resources (NGAS) fell 5.5% to $7.77 after its earnings fell slightly short of expectations.Have a great weekend!Jon C. OggNovember 10, 2006
Market Wrap (Nov. 10, 2006)
Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
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