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Economy

Economic Data (USA)

Wednesday, February 01, 2006

All 3 Majors Climb As Boeing Raised Profit Forecast

All 3 major indices closed higher today as Boeing raised their profit forecast and U.S. auto manufacturers reported better-than-expected January sales. An estimated 1.91 billion shares were traded on The Big Board today.

Boeing was the star performer on The Dow Jones Industrial Average (DJIA) today, the result of an improved profit forecast; shares of Boeing gained $3.31 (4.85%) to close @ $71.62 during regular trading; the stock gained an additional $0.18 in after-hours trading this evening.

Earnings @ Google failed to meet analyst expectations and investors reacted; shares of Google fell by $30.88 (7.14%) in regular trading to close @ $401.78; the stock recovered $3.11 in after-hours action this evening.

Shares of Symantec fell by $1.25 (6.8%) in regular trading to close @ $17.13; the stock recovered $0.05 in after-hours trading. Symantec is the global #1 anti-virus software producer.

Shares of Daimlerchrysler rose by $0.79 to close @ $58.11.

Today's EIA crude oil inventories report showed that stockpiles are no real concern, and crude for future delivery got cheaper. Energy stocks declined as a result.

Shares of Exxon Mobil fell by $0.80 to close @ $61.95 in regular trading; the stock recovered $0.05 in after-hours action this evening.

Shares of Sunoco fell by $2.54 to close @ $92.66 in regular trading; the stock recovered $1.34 in after-hours action this evening.

Shares of Valero Energy fell by $2.79 to close @ $59.64; the stock recovered $0.37 in after-hours action this evening.

Shares of Research In Motion (RIM) gained $6.08 (9%) to close @ $73.61; the stock added an additional $0.74 in after-hours action this evening. The U.S. Trademark and Patent Office issued non-final rejections of all 5 patents filed by NTP in the BlackBerry patent-infringement fight, and this is great news for RIM. And there was more good news for RIM today: The U.S. Justice Department urged a federal judge to rethink any plan that involves shutting down the popular BlackBerry mobile email system.

Shares of Amgen gained $3.30 to close @ $76.19; the stock lost $0.38 in after-hours action this evening.

Shares of BlackRock fell by $3.26 to close @ $129.54. Morgan Stanley was planning on purchasing the firm, but it looks like the asking price for BlackRock soured the deal.

Shares of Time Warner gained $0.69 to close @ $18.22: earnings @ Time Warner beat analyst estimates.

Shares of JetBlue Airways lost $1.86 to close @ $11.18.

United Airlines has emerged from bankruptcy protection and will begin trading on The NASDAQ Stock MarketĀ® tomorrow (February 2, 2006.) under the stock symbol UAUA. The company has managed to shave $7 billion off it's operating expenses. Only time will tell if the company can thrive in this climate of high oil prices and stiff competition from discount carriers.

Shares of UAUA were selling well over-the-counter today @ $41.50. Looks like an auspicious rebirth for the company.

Today's Numbers:

DJIA: Closed Up @ 10,953.95 (+89.09)

NASDAQ: Closed Up @ 2,310.56 (+4.74)

S&P 500: Closed Up @ 1,282.46 (+2.38)

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NYMEX Crude Oil Future is currently @ $66.83/barrel

New York Spot Gold closed Lower @ $569.50/ounce

Currently, The U.S. Dollar buys
0.8289 Euros
Currently, The Euro buys 1.2064 U.S. Dollars

The U.S. Prime Rate is now 7.5%


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