Wall Street To Main Street: News, Views And Commentary: June 16, 2006

It is Friday June 16, 2006, and we had some follow with by means of in yesterdays buying and marketing session because the Nasdaq shot up over 2.8%, the S&P 500 jumped 2.1% and the Dow pushed its manner by means of the 11,000 mark. However the measure on the Indexes weren’t as heavy as they need to’ve been with these positive aspects. It will’ve been a greater scenario for this bounce to unfold over a couple of days to keep away from a giant pullback notwithstandin the market hung in there. So we power even see a slight pullback as we speak notwithstandin we’re on the lookout for extra top side earlier than the weekend.

Now lets check out Pure Gasoline. July pure gas rallied up over 61 cents to over $7.2 per mil BTU. That brings us to an organization that we have been hesitant about when it was over the $25 measure due to a couple of causes. First it was in a downward buying and marketing sample and second their principal income comes from the Gulf Coast, most particularly New Orleans, LA. Now it is however a dangerous scenario notwithstandin at a lower place $19 your draw back must be restricted in comparison with the top side potential.

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Wall Street To Main Street: News, Views And Commentary: June 16, 2006

We spoke about valuable and base metals transferring on the top side on Thursday and that is precisely what they did by the top of the buying and marketing day. Bringing most of the gold, silver, and copper shares proper together with it. Corporations like Rio Tinto (NYSE: RTP), BHP Billiton (NYSE: BHP), Crystallex Worldwide (AMEX: KRY), Newmont Mining (NYSE: NEM), Peru Copper (AMEX: CUP) and Bema Gold (AMEX: BGO) transfer big, notwithstandin the massive boys did not do too shabby both as Southern Copper (NYSE: PCU) added $5.94 to shut at $77.94, Phelps Dodge (NYSE: PD) shot up $4.23 to shut at $80.64, U.S. Metal (NYSE: X) rose $4.51 to shut at $64.00 and Metal Dynamics (NASDAQ: STLD) listed up $4.66 to shut at $55.57.

Now the valuable and base steel shares weren’t the one ones to do the whatoosie, oil and oil associated shares joined the occasion as firms like Petroleo Brasil (NYSE: PBR) which listed up $5.37 to shut at $78.47, Oceaneering Worldwide (NYSE: OII) which listed up $6.59 to shut at $78.96 and Extremely Petroleum (NYSE: UPL) which listed up $5.06 to shut at $52.69 added to the rally as crude oil costs rose.

Now we must always see follow with by means of as we speak inside the oil sphere as merchants could also be overlaying their brief positions forward of the weekend.

Political Entrance

Iranian President Mahmoud Ahmadinejad is continuous to get as a great distribute of this tense scenario as come-at-able as he declared a set of incentives and penalties aimed toward persuading Tehran to curtail its nuclear applications was a optimistic step notwithstandin left the door open with reference to how they’d reply. So the beat goes on.

In the US, President Bush inked the paperwork that has established the biggest sea wildlife reserve on the earth. It’s placed aboard a string of islands and reefs that stretch 1,400 miles northwest of the primary Hawaiian Islands. So President Bush is on a roll as that is certain to append to his favorable senior.

Sticking to the U.S., Home Republicans have structured a debate on Iraq to point out help for the U.S. Troops. The intent is to pressure lawmakers to take a place both manner on retreating U.S. forces from Iraq in its fourth yr. That is regular to inaugurate as we speak.

Tid Bits

The institution father of Microsoft (NASDAQ: MSFT) and one the richest individuals on the planet, Invoice Gates, shall be hanging up his every day hat on the firm by 2008, he shall be passing the baton to his Chief Know-how Officer Ray Ozzie when he stairs down. Gates shall be concentrating on his charitable efforts by means of the Invoice & Melinda Gates Basis. Now rumors are spreading quickly that Steve Ballmer would be the later to step apart because the computer software package big struggles to discover a approach to maintain itself related inside the coming years as firms like Google (NASDAQ: GOOG) are nipping at its heels.

China Development Financial institution is having a hearth sale as they’ve offered an honest portfolio of reposed mortgage property with a face worth of US$120 million (960 million yuan) to a overseas funding group. They alone acquired 19% of the face worth of the property, so therefore the hearth sale. This enclosed each business property and land. That is simply the beginning as they’re regular to unload one other billion plus price of repossessed mortgages by year-end.

Google (NASDAQ: GOOG) is on a tear as they’ve simply undraped a government website search, chiefly this can be a new operate that can permit net surfers to find cognition and data which are available on federal company websites. This could turn intent on be useful not just for net surfers notwithstandin for the federal government companies themselves, giving their staff entry to data quickly and simply.

After a sequence of query and reply periods with the united statesAttorney’s Workplace and the SEC, it got here to mild that the previous CEO of the New York Inventory Change Richard Grasso took the fifth over 150 occasions in the course of the quite couple of periods with them. Grasso introduced worth to the NYSE throughout his tenure, he was attacked for his compensation bundle, which was voted on by the then members of the NYSE, and he continues to be hounded because it pertains to the AIG scenario. It is a growing scenario.

Movers and Shakers

Some main movers in yesterdays buying and marketing session enclosed Vitality Conversion Gadgets (NASDAQ: ENER), which listed up $5.44 to shut at $37.43 on Thursday. The inventory simply rode the impulse of the sphere and it is best to see some follow with by means of in as we speak’s buying and marketing session.

GFI Group Inc (NASDAQ: GFIG) shot up yesterday after Citigroup Funding Analysis upgraded the inventory from a Maintain to A Purchase. It rose $5.42 to shut at $52.05.

Las Vegas Sands (NYSE: LVS) shot up $4.78 to shut at $68.05, which brings the inventory closer to its 52 week excessive. However we power even see a pullback on the inventory after the fast run up.

Steve Madden Ltd. (NASDAQ: SHOO) was upgraded to a Robust Purchase from an Accumulate by C.L. King, this improve despatched the refill $4.64 to shut at $30.08. Now the inventory however has legs because it may proceed it ahead movement and attain the $33 possibly $35 mark inside the coming weeks.

CEMEX (NYSE: CX) listed up $5.10 to shut at $54.64, the corporate united to cancel a US$400-500 million arbitrament case towards the Indonesian government over a failing put possibility deal for buying a majority stake in PT Semen Gresik. Now it however girdle to be seen if this cancellation will open the doorways for Cemex to shut a US$337 million deal to promote its 24 plus p.c Gresik stake to the Rajawali Group. In the event that they do get the unskilled mild this power increase the inventory additional.

Bear Stearns (NYSE: BSC) inaugurate the medium of exchange sphere upward swing once they reportable blockbuster numbers, the inventory rose $7.36 to shut at $131.56, whereas Goldman Sachs (NYSE: GS) listed up $5.62 to shut at $144.12 and Black Rock (NYSE: BLK) settled in because it listed up $5.82 to shut at $128.33. The entire sphere affected big notwithstandin we aren’t going to checklist each firm that affected up. Quite a deal of the brokerage shares are however not peaking so regulate them, as they’re certain to maneuver a deal big in 2006.

Different shares that made good strikes on Thursday embrace Freightcar America (NASDAQ: RAIL) listed up $4.84 to shut at $52.04, Dril-Quip (NYSE: DRQ) listed up $4.79 to shut at $74.13, PetroChina (NYSE: PTR) listed up $4.71 to shut at $99.18, American Industrial Strains (NASDAQ: ACLI) listed up 45.16 to shut at $50.86,

Below Ten

Some shares that made strikes on the top side at a lower place ten bucks embrace Encysive Prescribed drugs (NASDAQ: ENCY), the corporate accognitiond that the Meals and Drug Administration is reviewing their drug to deal with high blood pressure inside the metastasis organ arteries, a situation referred to as metastasis organ blood vessel high blood pressure. This despatched the refill over $1.96 to shut at $7.01 Again in March the corporate delayed its examine with TBC3711 and the inventory born from $9.45 to $4.60 inside a couple of days, so you should still see some upward motion on Encysive going into later week.

Different shares that affected big yesterday at a lower place ten bucks enclosed Datalink (NASDAQ: DTLK) which listed up $1.21 to shut at $6.16, Daystar Applied sciences (NASDAQ: DSTI) listed up 98 cents to shut at $9.38, Volcano Corp (NASDAQ: VOLC) listed up 95 cents to shut at $9.95, House Options America (AMEX: HOM) listed up 90 cents to shut at $7.70, Neopharm, Inc (NASDAQ: NEOL) listed up 89 cents to shut at $6.87 and 24/7 Actual Media (NASDAQ: TFSM) which listed up 81 cents to shut at $7.69.


Imagine it or not there have been some shares that really listed down yesterday and so they embrace PrimeEnergy (NASDAQ: PNRG) which listed down $3.33 to shut at $78.47, VeraSun vitality (NYSE: VSE) the latest Ethanol IPO born down $2.85 to shut at $27.15, Nutrisystem (NASDAQ: NTRI) listed down $2.16 to shut at 457.42, TeleFlex, Inc (NYSE: TFX) born $2.10 to shut at $51.28, Each day Journal (NASDAQ: DJCO) listed down $1.19 to shut at $38.10 and Altus Prescribed drugs (NASDAQ: ALTU) listed down $1.12 to shut at $18.27.

Now some shares at a lower place ten bucks that acquired the royal smack down yesterday embrace Catalyst Semiconductor (NASDAQ: CATS) which listed down 55 cents to shut at $3.62, Himax Applied sciences (NASDAQ: HIMX) listed down 23 cents to shut at $4.77, Electro Sensors (NASDAQ: ELSE) listed down 17 cents to shut at $4.18 and Superior Environmental Recycling Tech (NASDAQ: AERTA) listed down 13 cents to shut at $3.33.

Analyst Upgrades/Downgrades

Current Analyst upgrades embrace Coldwater Creek (NASDAQ: CWTR) which was upgraded to an Accumulate from a Impartial by C.L. King, Sovran Self Storage (NYSE: SSS) was upgraded to a Purchase from Maintain by AG Edwards, Solectron Corp (NYSE: SLR) was upgraded to a Peer Carry out from a Below Carry out by Bear Stearns and Nvidia (NASDAQ: NVDA) was upgraded to a Purchase from a Impartial by UBS.

Current Analyst downgrades embrace Catalyst Semiconductor (NASDAQ: CATS) which was downgraded to a Maintain from a Purchase by Needham & Co, CV Therapeutics (NASDAQ: CVTX) which was downgraded to a Market Carry out from an Outperform by Piper Jaffray, Common Mills (NYSE: GIS) was downgraded to a Maintain from a Purchase by Citigroup Funding Analysis, and Volt Info Sciences (NYSE: VOL) which was downgraded to a Impartial from a purchase by Sidoti & Co.

Current analyst protection initiations embrace Shiny Inc (NASDAQ: CELL) it was initiated with a Maintain senior by Jefferies & Co, Nova Chemical (NYSE: NCX) was initiated with a Sector Performer senior by CIBC World Markets, FLIR Programs (NASDAQ: FLIR) was initiated with a Purchase senior by BB&T Capital Markets and News Corp (NYSE: NWS) which was initiated with a Peer Carry out senior by Bear Stearns.


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