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Economic Data (USA)

Wednesday, January 11, 2006

All 3 Majors Up Today As The Dow Holds Firm In 11K Territory

The Dow Jones Industrial Average (DJIA) is still holding firm in 11K territory, despite a 3.3% drop in the share price of DJIA component Dupont. An earnings warning contributed to Dupont losing $1.41 to close @ $41.14 per share today.

A Merrill Lynch analyst demoted Yahoo! from a "buy" to a "neutral" rating today; shares in Yahoo! dropped by $1.11 to close @ $41.87 per share as a result.

Apple continues to shine, gaining $3.04 to close @ a (split-adjusted) record high $83.90 per share (shares in Apple went as high as $84.80 today.)

Broadcom, the company that makes semiconductors for Apple's iPod media players, added $2.86 to close @ $58.59 per share today.

Rambus gained $3.89 (14%) to close @ $32.20 per share.

Boeing gained $1.00 to close @ $70.10 per share on news that Air India will purchase 68 passenger jets @ $11 billion in a unique deal where Boeing will spend $100 million for a repair center and $75 million for a pilot training center.

Shares in Genentech fell by $4.12 to close @ $89.22 per share. Though Q4 (U.S.) sales of the colon cancer drug Avastin rose by 89% to $359.1 million, sales of Avastin still didn't measure up to expectations set by a SG Cowen analyst. Genentech also makes the breast cancer drug Herceptin and is the world's #2 biotech company.

The bidding war between Johnson & Johnson and Boston Scientific for Guidant is heating up. Boston Scientific's offer is currently $25 billion, while Johnson & Johnson has bid $21.5 billion so far. Shares in Guidant added $1.05 to close @ $70.44 per share, while Johnson & Johnson fell by $0.60 to close @ $62.50, and Boston Scientific lost $1.07 to close @ $25.41.

Compuware fell by $1.24 (13%) today to close @ $8.25 per share.

Crude Oil climbed higher on worries that Iran may face economic sanctions related to the nation's resumption of research into nuclear technology. Iran is OPEC's #2 crude oil producer.

Gold finished higher as well; a weakening dollar contributed to gold's price increase today.

Today's Numbers:

DJIA: Closed Up @ 11,043.44 (+31.86)

NASDAQ: Closed Up @ 2,331.36 (+11.04)

S&P 500: Closed Up @ 1,294.18 (+4.49)


NYMEX Crude Oil Future is currently $64.35/barrel

New York Spot Gold closed up @ $548.50/ounce

Currently, The U.S. Dollar buys
0.8235 Euros

Currently, The Euro buys 1.2144 U.S. Dollars

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