DJIA 12,423.49; Up 25.48 (0.21%)
NASDAQ 2,438.20; Up 3.95 (0.16%)
S&P500 1,412.84; Up 3.13 (0.22%)
10YR-Bond 4.66% ; Up 0.014
NYSE Volume 2,667,748,000
NASD Volume 1,880,169,000
Time Warner (TWX) rose 0.6% to $22.37 as the tracking stock for Time Warner Cable (TWC) is closer and after unveiling an AOL Video pact with Sony at CES.
Gap Inc. (GPS) rose 7% to $20.26 after CNBC’s DAVID FABER reported that the company had hired Goldman Sachs to review strategic alternatives for the company. Paul Pressler still needs to go. Pressler still needs to go, and here is what Cramer said on it on STOP TRADING Today on CNBC.
Wal-Mart (WMT) fell 0.8% to $47.00 after Goldman Sachs cut its Buy rating down to a Neutral. Lee Scott needs to go and the latest ad campaign is just going to draw more fire.
NCR Corp (NCR) rose a sharp 3.4% to $43.79, but had been up 6%, after the company unexpectedly announced it woul;d split off its Teradata unit. Here was our backdoor-paly note on it this morning.
RadioShack (RSH) rose 11% to $18.76 after the company announced its same store sale would be lower in Q4 and in the first half of 2007, but said cost cutting and realignments would make profits higher for Q4. We noted some data here on this today.
Houston Exploration (THX) rose 4.1% to $50.69 after Forest Oil announced it would acquire the company.
Level 3 Communications (LVLT) rose 2.5% to $6.08 after Jim Cramer named it his #1 Top Speculative Stock for 2007 on Friday’s MAD MONEY.
Royal Caribbean (RCL) managed to close up 0.95% at $43.78 despite the fact that someone tried to smuggle C4 on board one of their cruise ships.
CA Nacional Tele de Venezuela (VNNYSE/ADR) fell 14% after Hugo Chavez of Venezuela was announcing he’d nationalize the industry in Venzuela.
Therma Wave (TWAV) rose 28% to $1.61 after KLA-Tencor announced it was acquiring the stock for $1.65 per share.
United Surgical Partners (USPI) rose 11% to $30.58 after receiving a $31.05 buyout offer from Welsh carson Anderson & Stowe, but the shares have traded as high as $40 in the last year.
IBM (IBM) rose 1.5% to $98.90 after UBS raised its rating to a Buy and gave a new $118 price target.
General Dynamics (GD) rose 4.5% to $78.00 on a Cowen & Co. upgrade.
Jon C. Ogg
January 8, 2007
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