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Economy

Economic Data (USA)

Thursday, July 06, 2006

All 3 Major Indexes Advanced Today

All 3 major indices advanced today; 1,408,269,070 shares were traded @ The New York Stock Exchange®.

Today, the Florida Supreme Court reject a $145 billion punitive damage claim against the major players in the U.S. tobacco industry. Though the tobacco industry still has to worry about individual lawsuits, today's ruling by the Florida Supreme Court makes it very unlikely that another class action stab at Big Tobacco would be successful.

Philip Morris USA vice president William S. Ohlemeyer commented:

"As numerous trial and appellate courts have held, tobacco cases cannot be treated as class actions because liability must ultimately be decided on a case-by-case basis...Today's Florida Supreme Court opinion is in line with those decisions."

Phillip Morris, which is a subsidiary of Dow Jones Industrial Average (DJIA) component Altria, owns the following cigarette brands:

  • Accord
  • Alpine
  • Basic
  • Benson & Hedges
  • Bristol
  • Bucks
  • Cambridge
  • Chesterfield
  • Collector's Choice
  • Commander
  • Daves
  • English Ovals
  • L&M
  • Lark
  • Marlboro
  • Merit
  • Parliament
  • Players
  • Saratoga
  • Virginia Slims

Reynolds American controls the following investment and selective support brands:

  • Camel
  • Kool
  • Winston
  • Salem
  • Eclipse
  • Doral
  • Pall Mall

Shares of Altria (MO) gained $4.43 (+6.04%) to close @ $77.76; the stock then fell by $0.25 in after-hours action this evening.

Shares of Reynolds American (RAI) gained $4.59 (+4.01%) to close @ $118.95.


Shares of direct marketing concern ADVO Inc. (AD) gained $11.13 (+45.88%) to close @ $35.39 on news that Valassis Communications has made a $1.12 billion offer for the company.


Shares of natural gas distributor Peoples Energy Corp. (PGL) gained $3.08 (+8.56%) to close @ $39.06 on news that the company may be purchased by WPS Resources Corp.


Shares of Acuity Brands (AYI) gained $3.49 (+8.83%) to close @ $43.00.


Shares of TJX Companies (TJX) gained $1.14 (+5.13%) to close @ $23.37.


Shares of Forward Industries (FORD) gained $1.43 (+31.99%) to close @ $5.90; the stock then gained an additional $0.23 in after-hours action this evening.


Shares of Escala Group Inc. (ESCL) gained $1.96 (+44.14%) to close @ $6.40.


Shares of NYSE Group (NYX) fell by $1.10 (-1.62%) to close @ $66.90. NYSE Group owns the New York Stock Exchange®.


Shares of eBay (EBAY) fell by $1.51 (-5.32%) to close @ $26.85 on news that Rajiv Dutta is to replace Jeff Jordan as president of PayPal.


Shares of Citi Trends (CTRN) fell by $7.37 (-17.39%) to close @ $35.01; the stock then recovered $0.14 in after-hours trading this evening.


Shares of Multi-Fineline Electronix (MFLX) fell by $5.75 (-17.83%) to close @ $26.50; the stock then recovered $0.69 in after-hours trading this evening.


Shares of communications software producer Openwave Systems (OPWV) fell by $3.70 (-32.26%) to close @ $7.77 on news of slumping sales.


Shares of TOM Online (TOMO) fell by $1.85 (-9.81%) to close @ $17.00.


Shares of Tweeter Home Entertainment Group (TWTR) fell by $0.86 (-12.48%) to close @ $6.03.


Summary of The U.S. Markets:

----------------------------------------------------------

DJIA: Closed @ 11,225.30 (+73.48)

NASDAQ: Closed @ 2,155.09 (+1.75)

S&P 500: Closed @ 1,274.08 (+3.17)

----------------------------------------------------------

NYMEX Crude Oil Future is currently @ $74.93/barrel

NY Spot Gold gained $6.70 to close @ $634.20/ounce

In New York, The U.S. Dollar buys 0.7801 Euros

In New York, The Euro buys 1.282 U.S. Dollars

The U.S. Prime Rate (WSJ Prime Rate) is 8.25%


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