DJIA 12,319.58; Up 4.00 (0.03%)
NASDAQ 2,432.41; Up 0.81 (0.03%)
S&P500 1,413.51; Up 1.95 (0.14%)
10YR-Bond 4.577% Up 0.086
NYSE Volume 2,441,198,000
NASD Volume 1,749,204,000
The market absorbed a 1% gain in retail sales, although the bond market lost ground to higher rates. Today might not look like much but we had been weaker most of the day. Get ready for OPEC causing price gyrations in enery stocks because of its meeting Thursday.
Atlas Energy Resources (ATN) priced its 6.325 million share IPO at $21.00, at the top of the $19.00 to $21.00 range; it closed at $22.48.
Buckle (BKE) rose 5% to $51.28 after it announced a 3 for 2 stock split and a $3 special dividend.
DCT Industrial Trust (DCT) priced its 16.3 million share IPO at $12.25, toward the higher-end of the $11.50 to $12.50 range and higher than the 15 million shares indicated; it closed at $12.35.
eBay (EBAY) rose 2.5% to $32.63 after noting it would start charging for certain Skype services.
Guidance Software (GUID) priced its 5 million share IPO at $11.50, under the $12.50 to $14.50 range; it closed at $15.18
IPG Photonics (IPGP) priced 9 million shares at $16.50 for its IPO, it closed at $25.60.
Steel Dynamics (STLD) lowered guidance slightly, but not as bad as the street was expecting after Nucor’s warning; shares rose 3.5% to $32.99.
UAL (UAUA) rose 4.6% to $45.24 on a potnetial Continental buyout.
Amgen (AMGN) rose 0.2% to $69.84 after announcing a $5 Billion allocation to a repurchase program; since when are high-tech biotechs supposed to spend money on their own stock……does that signal fewer opoortunities for the company to buy new growth reasonably?
Martek Bio (MATK) posted EPS at $0.12 vs $0.10e; shares rose 4.5% to $24.41.
Midwest Air (MEH) rose 22% to $11.10 after an $11.50 offer form Airtran.
Northwest Air (NWACQ-OTC) rose almost 10% to $6.47 as it is one that has to be taken care of before any real airline deal can come from Continental.
Mamma.com (MAMA) rose 0.7% but had been up another 20% at one point today, after yesterday’s "launch" of its video search.
Mobile Mini (MINI) fell 2.3% to $27.84 after guiding earnings in-line but to lower part of the range.
Prudential downgraded both Best Buy (BBY) and Circuit City (CC); BBY fell another 1.6% to $50.46 and CC fell almost 2% to $23.12.
Vimpelcom (VIP) fell 3.5% to $77.19 after HSBC downgraded the com,mon stock overseas to a Neutral rating.
Cisco (CSCO) rose 0.6% to $27.25 after getting a fiber to the home pact in France.
Jon C. Ogg
December 13, 2006
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