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I didn't expect to win two years in a row...
But I gave it my best shot anyways...lol
Happy New Years Pops!~~~And to ALL the players of...
The NFL-King of the Hill Pool...
Dallas lost because...I picked them to win...LOL!
TO: MSGI AND Teach~The WINNERS of this years Loser's Pool...
FROM: Last years winner of the Looooser's Pool...
"How about them Cowboys?"...
I CAN'T BELIEVE THEY PLAYED SO BAD TODAY!!! ;^(((
I'm glad you like that one Peg...
I wish you and yours a Safe and Happy Holidays! ;^))
Thanks 'skeballlarry'...I want to wish you and yours...
A VERY HAPPY HOLIDAY SEASON! ;^))
OK...I finally came to my senses...
I dropped the price of my Day Trading Ebook to $37.95
And I created an Affliliate Sales Program so that anyone that wants to help me sell this Ebook can make 60% on each sale they make...
Look for the Affiliate link at the bottom of this page:
http://www.market-master.net
HAPPY HOLIDAY'S TO ALL IHUB ENTREPRENEURS!!! ;^)))
Composite Technology's DeWind Announces...
The Installation of Prototype D8.2 Wind Turbine at Cuxhaven, Germany:
High Performance 2 Megawatt DeWind D8.2 Ready for Final Testing...
Last Update: 2:38 PM ET Dec 22, 2006
http://tinyurl.com/yf4cqa
IRVINE, Calif., Dec 22, 2006 /PRNewswire-FirstCall via COMTEX/ -- Composite Technology Corporation (CTC) (CPTC) announced today that its subsidiary DeWind Inc., has completed erection of the high performance 2 megawatt DeWind D8.2 wind turbine at the DEWI-Offshore and Certification Centre GmbH (DEWI-OCC) test site in Cuxhaven, Germany.
A photo of the turbine installed on an 80 meter tower may be seen at:
http://www.eunrg.com/product_1.htm
and in a PDF format attached to this press release on CTC's web site.
"DeWind has received the initial approval of the load calculation from DEWI-OCC. The engineering team will now focus on completing the suite of calculations and tests required for full wind turbine certification," said Vic Lilly, Chief Technology Officer for CTC and head of Wind Turbine Engineering for DeWind Ltd.
"Power curve testing will begin after the holidays and we are confident that certification will be achieved in the first quarter of 2007 due to our current engineering modeling of the excellent wind regime at the site."
Wind turbines undergo a certification process to conform to internationally recognized standards set by the International Electrotechnical Commission (IEC). DEWI-OCC provides type approval and certification services to IEC standards for manufacturers of wind turbines. DEWI-OCC was founded by the shareholders of the German Wind Energy Institute (DEWI), along with the city and district of Cuxhaven.
The DeWind D8.2 uses a Voith WinDrive(R) and a synchronous generator connected directly to the grid to produce power at 13,800 Volts, without the use of power electronics. The WinDrive(R) is a hydrodynamic torque converter that allows the variable speed of the wind to be converted to a constant speed allowing clean power to be delivered to the grid.
Michael Porter, President of both CTC and DeWind Inc., stated, "This is a major milestone in the introduction of utility scale wind turbines utilizing a synchronous generator connected directly to the grid. By removing power electronics and using synchronous generation the DeWind D8.2 sets a clear precedent and takes another step closer to wind power being considered a true power plant."
About CTC:
Composite Technology Corporation, based in Irvine, California, USA develops, manufactures and sells high performance electrical transmission and renewable energy generation products through its subsidiaries:
* DeWind, Inc., and DeWind Ltd.(formerly EU Energy Wind Ltd) produce,
sell, and license the DeWind series of wind energy turbines including
the 50Hz D6 rated at 1.25 megawatts (MW) and the 50Hz D8 rated at 2MW,
both noted for their reliability. In 2007, the first new 2MW D8.2
turbines are planned to be delivered to North American customers from
assembly operations at TECO Westinghouse Motor Company in Texas. The
D8.2 utilizes the advanced WinDrive(R) hydrodynamic torque converter
developed by Voith AG with a synchronous AC generator that is able to
connect directly to the grid without the use of power conversion
electronics. The DeWind D8.2 will be available in both a 60Hz and 50Hz
version.
* CTC Cable Corporation produces composite rod for use in its proprietary
ACCC aluminum conductor composite core. ACCC conductors virtually
eliminate the sag in power lines caused by high current and high line
temperatures. ACCC conductors also reduce electricity line losses, and
have demonstrated significant savings in capital and operating expenses
when substituted for other conductors. ACCC conductors enable grid
operators to eliminate blackouts and brownouts, providing a 'reserve
electrical capacity' by operating at higher temperatures. ACCC
conductors are an innovative solution for reconductoring power lines,
constructing new lines and crossing large spans. ACCC composite rod is
delivered to qualified conductor manufacturers worldwide for local ACCC
conductor production and resale into local markets.
For further information visit our websites: www.compositetechcorp.com & www.eunrg.com
This press release may contain forward-looking statements, as defined in the Securities Reform Act of 1995 (the "Reform Act"). The safe harbor for forward-looking statements provided to companies by the Reform Act does not apply to Composite Technology Corporation (Company). However, actual events or results may differ from the Company's expectations on a negative or positive basis and are subject to a number of known and unknown risks and uncertainties including, but not limited to, competition with larger companies, development of and demand for a new technology, risks associated with a startup company, risks associated with international transactions, the ability of the company to convert quotations and framework agreements into firm orders, general economic conditions, the availability of funds for capital expenditure by customers, availability of timely financing, cash flow, securing sufficient quantities of essential raw materials, timely delivery by suppliers, successful integration of the EU Energy acquisition, ability to produce the turbines and acquire its components, ability to maintain quality control, collection-related and currency risks from international transactions, the successful outcome of joint venture negotiations, or the Company's ability to manage growth. Other risk factors attributable to the Company's business may affect the actual results achieved by the Company including those that are found in the Company's Annual Report filed with the SEC on Form 10-K for fiscal year ended September 30, 2005 and subsequent Quarterly Reports on Form 10-Q and subsequent Current Reports filed on Form 8-K and including those pertaining to EU Energy that will be included with or prior to the filing of the Company's next Quarterly or Annual Report.
SOURCE Composite Technology Corporation
Investor Relations, James Carswell of Composite Technology Corporation, +1-949-428-8500 http://www.eunrg.com Copyright (C) 2006 PR Newswire. All rights reserved
Composite Technology's DeWind Announces...
The Installation of Prototype D8.2 Wind Turbine at Cuxhaven, Germany:
High Performance 2 Megawatt DeWind D8.2 Ready for Final Testing...
Last Update: 2:38 PM ET Dec 22, 2006
http://tinyurl.com/yf4cqa
IRVINE, Calif., Dec 22, 2006 /PRNewswire-FirstCall via COMTEX/ -- Composite Technology Corporation (CTC) (CPTC) announced today that its subsidiary DeWind Inc., has completed erection of the high performance 2 megawatt DeWind D8.2 wind turbine at the DEWI-Offshore and Certification Centre GmbH (DEWI-OCC) test site in Cuxhaven, Germany.
A photo of the turbine installed on an 80 meter tower may be seen at:
http://www.eunrg.com/product_1.htm
and in a PDF format attached to this press release on CTC's web site.
"DeWind has received the initial approval of the load calculation from DEWI-OCC. The engineering team will now focus on completing the suite of calculations and tests required for full wind turbine certification," said Vic Lilly, Chief Technology Officer for CTC and head of Wind Turbine Engineering for DeWind Ltd.
"Power curve testing will begin after the holidays and we are confident that certification will be achieved in the first quarter of 2007 due to our current engineering modeling of the excellent wind regime at the site."
Wind turbines undergo a certification process to conform to internationally recognized standards set by the International Electrotechnical Commission (IEC). DEWI-OCC provides type approval and certification services to IEC standards for manufacturers of wind turbines. DEWI-OCC was founded by the shareholders of the German Wind Energy Institute (DEWI), along with the city and district of Cuxhaven.
The DeWind D8.2 uses a Voith WinDrive(R) and a synchronous generator connected directly to the grid to produce power at 13,800 Volts, without the use of power electronics. The WinDrive(R) is a hydrodynamic torque converter that allows the variable speed of the wind to be converted to a constant speed allowing clean power to be delivered to the grid.
Michael Porter, President of both CTC and DeWind Inc., stated, "This is a major milestone in the introduction of utility scale wind turbines utilizing a synchronous generator connected directly to the grid. By removing power electronics and using synchronous generation the DeWind D8.2 sets a clear precedent and takes another step closer to wind power being considered a true power plant."
About CTC:
Composite Technology Corporation, based in Irvine, California, USA develops, manufactures and sells high performance electrical transmission and renewable energy generation products through its subsidiaries:
* DeWind, Inc., and DeWind Ltd.(formerly EU Energy Wind Ltd) produce,
sell, and license the DeWind series of wind energy turbines including
the 50Hz D6 rated at 1.25 megawatts (MW) and the 50Hz D8 rated at 2MW,
both noted for their reliability. In 2007, the first new 2MW D8.2
turbines are planned to be delivered to North American customers from
assembly operations at TECO Westinghouse Motor Company in Texas. The
D8.2 utilizes the advanced WinDrive(R) hydrodynamic torque converter
developed by Voith AG with a synchronous AC generator that is able to
connect directly to the grid without the use of power conversion
electronics. The DeWind D8.2 will be available in both a 60Hz and 50Hz
version.
* CTC Cable Corporation produces composite rod for use in its proprietary
ACCC aluminum conductor composite core. ACCC conductors virtually
eliminate the sag in power lines caused by high current and high line
temperatures. ACCC conductors also reduce electricity line losses, and
have demonstrated significant savings in capital and operating expenses
when substituted for other conductors. ACCC conductors enable grid
operators to eliminate blackouts and brownouts, providing a 'reserve
electrical capacity' by operating at higher temperatures. ACCC
conductors are an innovative solution for reconductoring power lines,
constructing new lines and crossing large spans. ACCC composite rod is
delivered to qualified conductor manufacturers worldwide for local ACCC
conductor production and resale into local markets.
For further information visit our websites: www.compositetechcorp.com & www.eunrg.com
This press release may contain forward-looking statements, as defined in the Securities Reform Act of 1995 (the "Reform Act"). The safe harbor for forward-looking statements provided to companies by the Reform Act does not apply to Composite Technology Corporation (Company). However, actual events or results may differ from the Company's expectations on a negative or positive basis and are subject to a number of known and unknown risks and uncertainties including, but not limited to, competition with larger companies, development of and demand for a new technology, risks associated with a startup company, risks associated with international transactions, the ability of the company to convert quotations and framework agreements into firm orders, general economic conditions, the availability of funds for capital expenditure by customers, availability of timely financing, cash flow, securing sufficient quantities of essential raw materials, timely delivery by suppliers, successful integration of the EU Energy acquisition, ability to produce the turbines and acquire its components, ability to maintain quality control, collection-related and currency risks from international transactions, the successful outcome of joint venture negotiations, or the Company's ability to manage growth. Other risk factors attributable to the Company's business may affect the actual results achieved by the Company including those that are found in the Company's Annual Report filed with the SEC on Form 10-K for fiscal year ended September 30, 2005 and subsequent Quarterly Reports on Form 10-Q and subsequent Current Reports filed on Form 8-K and including those pertaining to EU Energy that will be included with or prior to the filing of the Company's next Quarterly or Annual Report.
SOURCE Composite Technology Corporation
Investor Relations, James Carswell of Composite Technology Corporation, +1-949-428-8500 http://www.eunrg.com Copyright (C) 2006 PR Newswire. All rights reserved
Sound Advice:
1. Avoid carrot sticks. Anyone who puts carrots on a holiday buffet table knows nothing of the Christmas spirit. In fact, if you see carrots, leave immediately. Go next door, where they're serving rum balls.
2. Drink as much eggnog as you can. And quickly. it's rare. You can't find it any other time of year but now. So drink up! Who cares that it has 10,000 calories in every sip? It's not as if you're going to turn into an eggnog-alcoholic or something. It's a treat. Enjoy it. Have one for me. Have two. It's later than you think. It's Christmas!
3. If something comes with gravy, use it. That's the whole point of gravy. Gravy does not stand alone. Pour it on. Make a volcano out of your mashed potatoes. Fill it with gravy. Eat the volcano. Repeat.
4. As for mashed potatoes, always ask if they're made with skim milk or whole milk. If it's skim, pass. Why bother? It's like buying a sports car with an automa tic transmission.
5. Do not have a snack before going to a party in an effort to control your eating. The whole point of going to a Christmas party is to eat other people's food for free. Lots of it. Hello?
6. Under no circumstances should you exercise between now and New Year's. You can do that in January when you have nothing else to do. This is the time for long naps, which you'll need after circling the buffet table while carrying a 10-pound plate of food and that vat of eggnog.
7. If you come across something really good at a buffet table, like frosted Christmas cookies in the shape and size of Santa, position yourself near them and don't budge. Have as many as you can before becoming the center of attention. They're like a beautiful pair of shoes. If you leave them behind, you're never going to see them again.
8. Same for pies. Apple. Pumpkin. Mincemeat. Have a slice of each. Or if you don't like mincemeat, have two apples and one pumpkin. Always h ave three. When else do you get to have more than one dessert? Labor Day?
9. Did someone mention fruitcake? Granted, it's loaded with the mandatory celebratory calories, but avoid it at all cost. I mean, have some standards.
10. One final tip: If you don't feel terrible when you leave the party or get up from the table, you haven't been paying attention. Re-read tips; start over, but hurry, January is just around the corner. Remember this motto to live by:
"Life should NOT be a journey to the grave with the intention of arriving safely in an attractive and well preserved body, but rather to skid in sideways, chocolate in one hand, body thoroughly used up, totally worn out and screaming "WOO HOO what a ride!"
Have a great holiday season!
Voted Best Joke in Ireland 2006:
John O'Reilly hoisted his beer and said, "Here's to spending the rest of me life, between the legs of me wife!"
That won him the top prize at the pub for the best toast of the night!
He went home and told his wife, Mary, "I won the prize for the Best toast of the night" She said, "Aye, did ye now. And what was your toast?" John said,
"Here's to spending the rest of me life, sitting in church beside me wife."
"Oh, that is very nice indeed, John!" Mary said.
The next day, Mary ran into one of John's drinking buddies on the street corner.
The man chuckled leeringly and said, "John won the prize the other night at the pub with a toast about you, Mary." She said, "Aye, he told me, and I was a bit surprised myself. You know, he's only been there twice in the last four years. Once he fell asleep, and the other time I had to pull him by the ears to make him come."
Onions and Christmas Trees...
A family is at the dinner table. The son asks his father, "Dad, how many kinds of boobies are there?"
The father, surprised, answers, "Well, son, there's three kinds of breasts. In her twenties, a woman's breasts are like melons, round and firm. In her thirties to forties, they are like pears, still nice but hanging a bit. After fifty, they are like onions."
"Onions?"
"Yes, you see them and they make you cry."
This infuriated his wife and daughter so the daughter said, "Mum, how many kinds of 'willies' are there?"
The mother, surprised, smiles and answers, "Well dear, a man goes through three phases.
In his twenties, his willy is like an oak tree, mighty and hard. In his thirties and forties, it is a birch, flexible but reliable. After his fifties, it is like a Christmas tree."
"A Christmas tree?"
"Yes, dead from the root up and the balls are for decoration only.
We won't do much unless some Volume comes in...
There hasn't been ONE trade in over 15 minutes since I made my Buy!...
I hope we go green today...
I just bought 250K shares to post the new High of the Day @ .0026 ;^))
Core consumer inflation flat in November:
Year-over-year gain in core prices falls to 2.2%
By Rex Nutting, MarketWatch
Last Update: 8:54 AM ET Dec 22, 2006
http://tinyurl.com/te4lw
WASHINGTON (MarketWatch) -- Consumer prices were flat in November, the Commerce Department reported Friday, bringing the year-over-year increase in core inflation down to 2.2%, closer to the Federal Reserve's comfort zone of 2%
The personal consumption expenditure price index was unchanged, as was the core PCE price index, which excludes food and energy prices.
It was the lowest core inflation in four years. Core prices have risen at a 1.8% annual rate over the past three months.
Before November's report, core prices had risen 2.4% on a year-over-year basis for three months in a row, heightening the Fed's concerns that inflation may not retreat as expected and that further hikes in U.S. interest rates could be needed.
The government also reported that personal incomes rose 0.3% in November following a 0.3% gain in October.
Employee compensation rose 0.4%. Real disposable incomes also increased 0.3%
Economists, as polled by MarketWatch, had expected incomes to rise 0.4%
Per-capita incomes rose to $32,280 per year from $32,218.
Consumer spending, meanwhile, increased 0.5%, as expected. It was the biggest jump in nominal spending since July. With prices unchanged, inflation-adjusted spending also increased 0.5%, matching October's gain.
With spending rising faster than incomes, the personal savings rate fell to negative 1% from negative 0.7% in September and October. The savings rate has been negative for 20 straight months.
The savings rate can be negative when consumers borrow or sell assets to support current consumption.
Inflation-adjusted, or real, spending on durable goods increased 1.6%, the biggest increase since July. Real spending on nondurable goods rose 1%. Real spending on services increased 0.1%, the smallest gain since June.
In a separate report, the Commerce Department said orders for durable goods rose 1.9% in November after an 8.2% plunge in October, as computer and aircraft orders bounced back. However, orders for core capital goods fell for the second straight month.
Rex Nutting is Washington bureau chief of MarketWatch.
Core consumer inflation flat in November:
Year-over-year gain in core prices falls to 2.2%
By Rex Nutting, MarketWatch
Last Update: 8:54 AM ET Dec 22, 2006
http://tinyurl.com/te4lw
WASHINGTON (MarketWatch) -- Consumer prices were flat in November, the Commerce Department reported Friday, bringing the year-over-year increase in core inflation down to 2.2%, closer to the Federal Reserve's comfort zone of 2%
The personal consumption expenditure price index was unchanged, as was the core PCE price index, which excludes food and energy prices.
It was the lowest core inflation in four years. Core prices have risen at a 1.8% annual rate over the past three months.
Before November's report, core prices had risen 2.4% on a year-over-year basis for three months in a row, heightening the Fed's concerns that inflation may not retreat as expected and that further hikes in U.S. interest rates could be needed.
The government also reported that personal incomes rose 0.3% in November following a 0.3% gain in October.
Employee compensation rose 0.4%. Real disposable incomes also increased 0.3%
Economists, as polled by MarketWatch, had expected incomes to rise 0.4%
Per-capita incomes rose to $32,280 per year from $32,218.
Consumer spending, meanwhile, increased 0.5%, as expected. It was the biggest jump in nominal spending since July. With prices unchanged, inflation-adjusted spending also increased 0.5%, matching October's gain.
With spending rising faster than incomes, the personal savings rate fell to negative 1% from negative 0.7% in September and October. The savings rate has been negative for 20 straight months.
The savings rate can be negative when consumers borrow or sell assets to support current consumption.
Inflation-adjusted, or real, spending on durable goods increased 1.6%, the biggest increase since July. Real spending on nondurable goods rose 1%. Real spending on services increased 0.1%, the smallest gain since June.
In a separate report, the Commerce Department said orders for durable goods rose 1.9% in November after an 8.2% plunge in October, as computer and aircraft orders bounced back. However, orders for core capital goods fell for the second straight month.
Rex Nutting is Washington bureau chief of MarketWatch.
Have a great time in the Big Apple Zeev Hed!...
Bellwether Report Large-Cap Newsletter for December 21st 2006:
Holiday Blahs and Philly Fed Pressure Stocks...
Corporate Info:
I can't really say the bait and switch is in affect because the market really hasn't been able to get out of the gate. There is a sense that a lot of folks are done for the year, which means there isn't an axe to grind either way. This usually means stocks will drift.
Certainly, there are two concerns going into the New Year, corporate earnings and the status of the economy. What will the Fed do is anyone's guess. At this point, they don't have to cut rates, but simply acknowledge there are troubled areas of the economy. Right now, we're greeted mostly with threats of higher rates, and talk of inflation.
Philadelphia Region Continues to Stumble:
There is one area of the nation where the economy is clearly trapped in a sinkhole. The Philly Fed released its latest survey of business conditions in the region (PA, NJ, and DE), and not only is not a pretty picture, it's getting uglier by the day. If the rest of the nation was experiencing the kinds of trends scene in the Philadelphia region, the Fed would have to cut rates today.
General business conditions slipped to their weakest reading since April 2003, and save for a bump in November, the trend has been decidedly tepid since August. Inventories have been a mixed bag all year long, as it seems there has been a concerted effort to play inventories close to the vest. More discerning is the trend in new orders, down for the second consecutive month, it portends to future weakness in the area.
New Orders Table:
There was a silver lining to the report, prices paid, were lower for the fifth month in a row.
The Philly Fed Data Points Table:
Prices Paid Chart:
Low prices are the crux of the discussion on interest rates and the Fed; then there is the state of the overall economy. In the Philadelphia region, and many others too, higher prices aren't the main threat, but instead economies sinking even further.
Natural Gas Inventory:
Natural gas supplies fell this week by 71.0 billion cubic feet to 3.167 trillion cubic feet, which was roughly in line with the Street's expectations of a draw of 73.0 billion cubic feet. Current inventory levels remain at the upper-end of its five-year average, but the weather continues to be the real driver of natural gas.
The official beginning of winter is quickly approaching, and despite the blizzard in the Rocky Mountains, it appears most of the country will not have a white Christmas. Natural gas prices have fallen below $7.00, and are trying to fight back, but it will be hard for the bulls to grab a foothold if the temperatures remain at current levels.
I'm not so sure we can pin today's weakness solely on the Philly Fed, but it's playing a role (natural gas is a non-event today). Many times I've said the market would rather get strong economic data (and deal with the rambunctious Fed) rather than slow economic data at this stage of the game.
Market Commentary By Charles Payne, CEO & Principal Analyst of Wall Street Strategies.
Bellwether Report has partnered with Wall Street Strategies, an independent research firm based out of New York City, to provide proffesional research for our Large-Cap Members.
Bellwether Report Large-Cap Newsletter for December 21st 2006:
Holiday Blahs and Philly Fed Pressure Stocks...
Corporate Info:
I can't really say the bait and switch is in affect because the market really hasn't been able to get out of the gate. There is a sense that a lot of folks are done for the year, which means there isn't an axe to grind either way. This usually means stocks will drift.
Certainly, there are two concerns going into the New Year, corporate earnings and the status of the economy. What will the Fed do is anyone's guess. At this point, they don't have to cut rates, but simply acknowledge there are troubled areas of the economy. Right now, we're greeted mostly with threats of higher rates, and talk of inflation.
Philadelphia Region Continues to Stumble:
There is one area of the nation where the economy is clearly trapped in a sinkhole. The Philly Fed released its latest survey of business conditions in the region (PA, NJ, and DE), and not only is not a pretty picture, it's getting uglier by the day. If the rest of the nation was experiencing the kinds of trends scene in the Philadelphia region, the Fed would have to cut rates today.
General business conditions slipped to their weakest reading since April 2003, and save for a bump in November, the trend has been decidedly tepid since August. Inventories have been a mixed bag all year long, as it seems there has been a concerted effort to play inventories close to the vest. More discerning is the trend in new orders, down for the second consecutive month, it portends to future weakness in the area.
New Orders Table:
There was a silver lining to the report, prices paid, were lower for the fifth month in a row.
The Philly Fed Data Points Table:
Prices Paid Chart:
Low prices are the crux of the discussion on interest rates and the Fed; then there is the state of the overall economy. In the Philadelphia region, and many others too, higher prices aren't the main threat, but instead economies sinking even further.
Natural Gas Inventory:
Natural gas supplies fell this week by 71.0 billion cubic feet to 3.167 trillion cubic feet, which was roughly in line with the Street's expectations of a draw of 73.0 billion cubic feet. Current inventory levels remain at the upper-end of its five-year average, but the weather continues to be the real driver of natural gas.
The official beginning of winter is quickly approaching, and despite the blizzard in the Rocky Mountains, it appears most of the country will not have a white Christmas. Natural gas prices have fallen below $7.00, and are trying to fight back, but it will be hard for the bulls to grab a foothold if the temperatures remain at current levels.
I'm not so sure we can pin today's weakness solely on the Philly Fed, but it's playing a role (natural gas is a non-event today). Many times I've said the market would rather get strong economic data (and deal with the rambunctious Fed) rather than slow economic data at this stage of the game.
Market Commentary By Charles Payne, CEO & Principal Analyst of Wall Street Strategies.
Bellwether Report has partnered with Wall Street Strategies, an independent research firm based out of New York City, to provide proffesional research for our Large-Cap Members.
U.S. stocks lower after weak manufacturing data:
Investors also weigh weaker-than-expected GDP, M&A activity...
By Nick Godt, MarketWatch
Last Update: 1:11 PM ET Dec 21, 2006
http://tinyurl.com/ylvxtz
NEW YORK (MarketWatch) -- U.S. stocks were lower midday on Thursday, as investors reacted to a weaker-than-expected regional manufacturing survey and a downward revision of third-quarter economic growth, which offset positive momentum from deal-making by Raytheon Co. and Glaxo Smithkline Plc.
Disappointing earnings news from Nike Inc. (NKE) and Bed Bath and Beyond Inc. (BBBY) also weighed on sentiment, eroding hopes for the traditional "Santa Claus" rally.
"It's a combination of economic weakness combined with the malaise befalling the market as we approach the holidays," said Robert Pavlik, chief investment officer at Oak Tree Asset Management. "Namely, we've got more volatility as many professionals are out already."
The Dow Jones Industrial Average ($INDU) was down 51 points at 12,412.
Weaker-than-expected economic data hit cyclical blue-chip stocks, such as Alcoa Inc. (AA), which fell 3.4% and Caterpillar Inc. (CAT), which lost 1%.
Meanwhile, JP Morgan Chase & Co. (JPM) provided support, gaining over 1%.
The S&P 500 index ($SPX) was down 5 points at 1,418 and the Nasdaq Composite (COMP) gave up 11 points to 2,416.
Technology shares, which have led the market's rally since September, continued their weakening trend of the past few sessions after a downgrade of PMC-Sierra Inc. (PMCS) and lower forecasts from Jabil Circuit Inc. (JBL).
News that economic growth was revised to 2% for the third quarter from a previous estimate of 2.2% provided a mixed backdrop for stocks at the open.
"In the bizarro world of Wall Street, weak economic data can be good for those that are hoping for a rate cut next year," said Oaktree's Pavlik.
But at midday, the Philadelphia Federal Reserve reported that manufacturing activity had weakened much worse than expected, putting more a negative spin on the economic picture.
Stock investors have been walking a fine line in recent months amid hopes that the economy will have a soft landing in 2007, in spite of a fast-falling housing market.
In that light, weakening economic data is sometimes still seen as positive, as it boosts the chances that the Fed will soon cut interest rates and prevent a hard landing.
On the positive side, the market had welcomed a new batch of deals at the open, boosting hopes that the vigorous deal-making seen this year will continue into 2007,
"With only eleven days remaining in 2006, M&A continues to demonstrate vibrancy across sectors and across borders," said Charles Campbell, senior sales trader at Miller Tabak.
Among the deals on tap Wednesday, Raytheon (RTN) agreed to sell its aircraft-making unit to Canada's Onex and Goldman Sachs (GS) for $3.3 billion. Raytheon also will buy back $750 million in stock.
And Britain's GlaxoSmithKline (GSK) said it will buy Praecis Pharmaceuticals (PRCS) for $54.8 million.
Investors also hope the market can continue to benefit from the traditional tendency of stocks to post gains before and right after the holidays, a so-called "Santa Claus" rally.
This rally happens as investors unload underperforming stocks for tax purposes in the first part of December and then put the money to use in the latter part of the month, Sam Stovall, chief investment strategist at S&P, tells MarketWatch. Listen to Stovall.
Oaktree's Pavlik, meanwhile, said he remains cautiously optimistic that the market can advance further through the final week of the year, even if "fewer people are in, which creates volatility".
"There's still some bargains out there," he said, noting that Best Buy Co. Inc. (BBY) was gaining over 2% as investors picked it up from "the sales rack."
Investors also received disappointing earnings from Athletic shoes maker Nike Inc. (NKE) and retailer Bed Bath & Beyond Inc. (BBBY).
On the upside, ConAgra Foods Inc. (CAG) rose 4.8% after the maker of Healthy Choice meals posted second-quarter earnings that beat expectations.
General Mills Inc. (GIS) gained 1.5% after its earnings also beat expectations.
In the broad market for equities, trading volume was 719 million on the New York Stock Exchange and 964 million on the Nasdaq.
Declining issues outpaced gainers 18 to 13 on the Big Board and 15 to 12 on the Nasdaq.
By sector, technology services ($GSV) and consumer issues ($CMR) were on the upside, while precious metals miners ($XAU), natural gas ($XNG) and oil ($XOI) led the downside.
Crude-oil futures fell 94 to $62.78 a barrel. See Futures Movers. Exxon Mobil Corp. (XOM) dropped 0.7%, also weighing on the Dow Industrials.
Gold futures were under pressure for a second day in a row. The February contract was last down $3.20 at $621 an ounce. Freeport McMoRan Copper and Gold (FCX) was weighing heavily, losing 6.3%. See Metal Stocks.
Treasurys were trending higher after the weaker GDP data as economic softness supports bonds. The benchmark 10-year Treasury note last was up 4/32 at 100-10/32 with a yield ($TNX) of 4.583%
The dollar was pinned in a tight-range in thin pre-holiday trade. The dollar rose 0.2% against the euro and up 0.1% against yen.
U.S. stocks lower after weak manufacturing data:
Investors also weigh weaker-than-expected GDP, M&A activity...
By Nick Godt, MarketWatch
Last Update: 1:11 PM ET Dec 21, 2006
http://tinyurl.com/ylvxtz
NEW YORK (MarketWatch) -- U.S. stocks were lower midday on Thursday, as investors reacted to a weaker-than-expected regional manufacturing survey and a downward revision of third-quarter economic growth, which offset positive momentum from deal-making by Raytheon Co. and Glaxo Smithkline Plc.
Disappointing earnings news from Nike Inc. (NKE) and Bed Bath and Beyond Inc. (BBBY) also weighed on sentiment, eroding hopes for the traditional "Santa Claus" rally.
"It's a combination of economic weakness combined with the malaise befalling the market as we approach the holidays," said Robert Pavlik, chief investment officer at Oak Tree Asset Management. "Namely, we've got more volatility as many professionals are out already."
The Dow Jones Industrial Average ($INDU) was down 51 points at 12,412.
Weaker-than-expected economic data hit cyclical blue-chip stocks, such as Alcoa Inc. (AA), which fell 3.4% and Caterpillar Inc. (CAT), which lost 1%.
Meanwhile, JP Morgan Chase & Co. (JPM) provided support, gaining over 1%.
The S&P 500 index ($SPX) was down 5 points at 1,418 and the Nasdaq Composite (COMP) gave up 11 points to 2,416.
Technology shares, which have led the market's rally since September, continued their weakening trend of the past few sessions after a downgrade of PMC-Sierra Inc. (PMCS) and lower forecasts from Jabil Circuit Inc. (JBL).
News that economic growth was revised to 2% for the third quarter from a previous estimate of 2.2% provided a mixed backdrop for stocks at the open.
"In the bizarro world of Wall Street, weak economic data can be good for those that are hoping for a rate cut next year," said Oaktree's Pavlik.
But at midday, the Philadelphia Federal Reserve reported that manufacturing activity had weakened much worse than expected, putting more a negative spin on the economic picture.
Stock investors have been walking a fine line in recent months amid hopes that the economy will have a soft landing in 2007, in spite of a fast-falling housing market.
In that light, weakening economic data is sometimes still seen as positive, as it boosts the chances that the Fed will soon cut interest rates and prevent a hard landing.
On the positive side, the market had welcomed a new batch of deals at the open, boosting hopes that the vigorous deal-making seen this year will continue into 2007,
"With only eleven days remaining in 2006, M&A continues to demonstrate vibrancy across sectors and across borders," said Charles Campbell, senior sales trader at Miller Tabak.
Among the deals on tap Wednesday, Raytheon (RTN) agreed to sell its aircraft-making unit to Canada's Onex and Goldman Sachs (GS) for $3.3 billion. Raytheon also will buy back $750 million in stock.
And Britain's GlaxoSmithKline (GSK) said it will buy Praecis Pharmaceuticals (PRCS) for $54.8 million.
Investors also hope the market can continue to benefit from the traditional tendency of stocks to post gains before and right after the holidays, a so-called "Santa Claus" rally.
This rally happens as investors unload underperforming stocks for tax purposes in the first part of December and then put the money to use in the latter part of the month, Sam Stovall, chief investment strategist at S&P, tells MarketWatch. Listen to Stovall.
Oaktree's Pavlik, meanwhile, said he remains cautiously optimistic that the market can advance further through the final week of the year, even if "fewer people are in, which creates volatility".
"There's still some bargains out there," he said, noting that Best Buy Co. Inc. (BBY) was gaining over 2% as investors picked it up from "the sales rack."
Investors also received disappointing earnings from Athletic shoes maker Nike Inc. (NKE) and retailer Bed Bath & Beyond Inc. (BBBY).
On the upside, ConAgra Foods Inc. (CAG) rose 4.8% after the maker of Healthy Choice meals posted second-quarter earnings that beat expectations.
General Mills Inc. (GIS) gained 1.5% after its earnings also beat expectations.
In the broad market for equities, trading volume was 719 million on the New York Stock Exchange and 964 million on the Nasdaq.
Declining issues outpaced gainers 18 to 13 on the Big Board and 15 to 12 on the Nasdaq.
By sector, technology services ($GSV) and consumer issues ($CMR) were on the upside, while precious metals miners ($XAU), natural gas ($XNG) and oil ($XOI) led the downside.
Crude-oil futures fell 94 to $62.78 a barrel. See Futures Movers. Exxon Mobil Corp. (XOM) dropped 0.7%, also weighing on the Dow Industrials.
Gold futures were under pressure for a second day in a row. The February contract was last down $3.20 at $621 an ounce. Freeport McMoRan Copper and Gold (FCX) was weighing heavily, losing 6.3%. See Metal Stocks.
Treasurys were trending higher after the weaker GDP data as economic softness supports bonds. The benchmark 10-year Treasury note last was up 4/32 at 100-10/32 with a yield ($TNX) of 4.583%
The dollar was pinned in a tight-range in thin pre-holiday trade. The dollar rose 0.2% against the euro and up 0.1% against yen.
News for 'RBAK' - (DBA Downgrades REDBACK NETWORKS INC to SECTOR PERFORM)
Dec 21, 2006 (Nelson's Broker Summaries via COMTEX) --
Company: REDBACK NETWORKS INC
Report Date: December 19, 2006
Report Headline: "Let's Lock it In"
Current Recommendation: SECTOR PERFORM
Previous Recommendation: OUTPERFORM
Research Firm: DBA
Analyst: MARK SUE
Industry: TECHNOL/O/C EQPT
http://www.thomsonfinancial.com
Copyright 2006, Nelson Information, a Thomson Financial company
News for 'RBAK' - (DBA Downgrades REDBACK NETWORKS INC to SECTOR PERFORM)
Dec 21, 2006 (Nelson's Broker Summaries via COMTEX) --
Company: REDBACK NETWORKS INC
Report Date: December 19, 2006
Report Headline: "Let's Lock it In"
Current Recommendation: SECTOR PERFORM
Previous Recommendation: OUTPERFORM
Research Firm: DBA
Analyst: MARK SUE
Industry: TECHNOL/O/C EQPT
http://www.thomsonfinancial.com
Copyright 2006, Nelson Information, a Thomson Financial company
News for 'RBAK' - (DBA Downgrades REDBACK NETWORKS INC to SECTOR PERFORM)
Dec 21, 2006 (Nelson's Broker Summaries via COMTEX) --
Company: REDBACK NETWORKS INC
Report Date: December 19, 2006
Report Headline: "Let's Lock it In"
Current Recommendation: SECTOR PERFORM
Previous Recommendation: OUTPERFORM
Research Firm: DBA
Analyst: MARK SUE
Industry: TECHNOL/O/C EQPT
http://www.thomsonfinancial.com
Copyright 2006, Nelson Information, a Thomson Financial company
"Should we put santa in a green suit this year"...
Sure, if you think it will make the share price of this stock go UP!...lol
LOL!!!...Sorry Peg, but it DOES say so...
NO Santa for y'all this year...
You're stuck with BUBBA Claus...lol
I'm glad you liked my signature pictures...
Of the Christmas tree and the "Happy Holidays" greeting...
To "borrow" the links off my Image Hosting webiste...
HAPPY HOLIDAYS TO ALL!!! ;^))
The Philly Fed numbers are really bad!!!
-4.3
Consensus was POSITIVE 4.0
Leading indicators rise 0.1% in November:
Slow growth likely to continue, but not get slower, researchers say...
By Rex Nutting, MarketWatch
Last Update: 10:02 AM ET Dec 21, 2006
http://tinyurl.com/th37c
WASHINGTON (MarketWatch) - Slow economic growth is likely to continue in the near term, the Conference Board said Thursday as it reported that the index of leading economic indicators rose 0.1% in November, the third straight increase.
The increase was exactly as predicted by economists polled by MarketWatch.
The index rose a downwardly revised 0.1% in October and 0.4% in September.
Four of the 10 leading indicators increased in November: money supply, vendor performance, core capital goods orders and stock prices. Five indicators contracted: jobless claims, building permits, the interest rate spread, the factory workweek, and consumer expectations. Orders for consumer goods held steady.
Over the past six months, the index is up 0.2%, with half of the 10 indicators growing. The index is designed to foreshadow turning points in the economy six to nine months ahead.
"The slower economy of the second half of 2006 might continue into the first half of 2007," said Ken Goldstein, labor economist for the private research group, in a statement. "But it may not get any slower."
Earlier Thursday, the Commerce Department said gross domestic product increased at a 2% annual rate in the third quarter, down from the 2.6% in the second quarter and revised slightly lower from an earlier estimate of 2.2% for the third quarter.
Goldstein said the economy "retains considerable strength." Interest rates are low, unemployment is low, and inflation is low. And "the housing slump does not appear to be deepening."
For the economy to slow further from here, "something else must develop," Goldstein said.
The index of coincident indicators increased 0.2% and the index of lagging indicators increased 0.5%
Rex Nutting is Washington bureau chief of MarketWatch.
Leading indicators rise 0.1% in November:
Slow growth likely to continue, but not get slower, researchers say...
By Rex Nutting, MarketWatch
Last Update: 10:02 AM ET Dec 21, 2006
http://tinyurl.com/th37c
WASHINGTON (MarketWatch) - Slow economic growth is likely to continue in the near term, the Conference Board said Thursday as it reported that the index of leading economic indicators rose 0.1% in November, the third straight increase.
The increase was exactly as predicted by economists polled by MarketWatch.
The index rose a downwardly revised 0.1% in October and 0.4% in September.
Four of the 10 leading indicators increased in November: money supply, vendor performance, core capital goods orders and stock prices. Five indicators contracted: jobless claims, building permits, the interest rate spread, the factory workweek, and consumer expectations. Orders for consumer goods held steady.
Over the past six months, the index is up 0.2%, with half of the 10 indicators growing. The index is designed to foreshadow turning points in the economy six to nine months ahead.
"The slower economy of the second half of 2006 might continue into the first half of 2007," said Ken Goldstein, labor economist for the private research group, in a statement. "But it may not get any slower."
Earlier Thursday, the Commerce Department said gross domestic product increased at a 2% annual rate in the third quarter, down from the 2.6% in the second quarter and revised slightly lower from an earlier estimate of 2.2% for the third quarter.
Goldstein said the economy "retains considerable strength." Interest rates are low, unemployment is low, and inflation is low. And "the housing slump does not appear to be deepening."
For the economy to slow further from here, "something else must develop," Goldstein said.
The index of coincident indicators increased 0.2% and the index of lagging indicators increased 0.5%
Rex Nutting is Washington bureau chief of MarketWatch.
I regret to inform you that, effective immediately, I will no longer
serve the States of Georgia, Florida , Virginia , North and South
Carolina , Tennessee , Mississippi , Texas , and Arkansas and West Virginia on Christmas Eve.
Due to the overwhelming current population of the earth, my contract was
renegotiated by North American Fairies and Elves Local 209. As part of
the new and better contract I also get longer breaks for milk and
cookies so keep that in mind.
However, I'm certain that your children will be in good hands with your
local replacement, who happens to be my third cousin, Bubba Claus. His
side of the family is from the South Pole. He shares my goal of
delivering toys to all the good boys and girls; However, there are a few
differences between us.
Differences such as:
1. There is no danger of the Grinch stealing your presents from Bubba
Claus. He has a gun rack on his sleigh and a bumper sticker that reads:
"These toys insured by Smith and Wesson."
2. Instead of milk and cookies, Bubba Claus prefers that children leave
an RC Cola and pork rinds [or a moon pie] on the fireplace And Bubba
doesn't smoke a pipe. He dips a little snuff though, so please have an
empty spit can handy.
3. Bubba Claus' sleigh is pulled by floppy-eared, flyin' coon dogs
instead of reindeer. I made the mistake of loaning him a couple of my
reindeer one time, and Blitzen's head now overlooks Bubba's fireplace.
4. You won't hear "On Comet, on Cupid, on Donner and Blitzen." when
Bubba Claus arrives. Instead, you'll hear, "On Earnhardt, on Andretti,
on Elliott and Petty."
5. "Ho, Ho, Ho!" has been replaced by "Yee Haw!" And you also are likely
to hear Bubba's elves respond, "I her'd dat!"
6. As required by Southern highway laws, Bubba Claus' sleigh does have a
Yosemite Sam safety triangle on the back with the words "Back Off."
7. The usual Christmas movie classics such as "Miracle on 34th Street"
and "It's a Wonderful Life" will not be shown in your negotiated viewing
area. Instead, you'll see "Boss Hogg Saves Christmas" and "Smokey and
the Bandit IV" featuring Burt Reynolds as Bubba Claus and dozens of
state patrol cars crashing into each other. And Finally,
8. Bubba Claus doesn't wear a belt. If I were you, I'd make sure you,
the wife, and the kids turn the other way when he bends over to put
presents under the tree.
Sincerely Yours, Santa Claus
Redback Networks (RBAK) cut to HOLD at Morgan Joseph...
Redback Networks (RBAK) cut to HOLD at Morgan Joseph...
Redback Networks (RBAK) cut to HOLD at Morgan Joseph...
GDP revised down to 2% in third quarter:
By Rex Nutting
Last Update: 8:30 AM ET Dec 21, 2006
http://tinyurl.com/ya6wkv
WASHINGTON (MarketWatch) - The U.S. economy grew at a 2% real seasonally adjusted annual rate in the third quarter, slightly lower than the 2.2% estimated a month ago, the Commerce Department reported Thursday.
It was the slowest growth since the fourth quarter of 2005.
The economy grew at a 2.6% pace in the second quarter.
The big picture take-away from third and final estimate of gross domestic product was little changed from the report from a month earlier.
As before, the collapse of homebuilding was a large drag on growth, offset by healthy consumer spending and robust capital spending by businesses.
Disposable personal incomes were revised higher, while profits were slightly lower, although profits have still risen at the fastest pace in 22 years over the past year.
Core consumer prices were unrevised in the report, showing a 2.2% annualized gain, still in the Federal Reserve's discomfort zone.
GDP revised down to 2% in third quarter:
By Rex Nutting
Last Update: 8:30 AM ET Dec 21, 2006
http://tinyurl.com/ya6wkv
WASHINGTON (MarketWatch) - The U.S. economy grew at a 2% real seasonally adjusted annual rate in the third quarter, slightly lower than the 2.2% estimated a month ago, the Commerce Department reported Thursday.
It was the slowest growth since the fourth quarter of 2005.
The economy grew at a 2.6% pace in the second quarter.
The big picture take-away from third and final estimate of gross domestic product was little changed from the report from a month earlier.
As before, the collapse of homebuilding was a large drag on growth, offset by healthy consumer spending and robust capital spending by businesses.
Disposable personal incomes were revised higher, while profits were slightly lower, although profits have still risen at the fastest pace in 22 years over the past year.
Core consumer prices were unrevised in the report, showing a 2.2% annualized gain, still in the Federal Reserve's discomfort zone.
News for 'RBAK'-DJ Redback-Ericsson Deal
Carries $61M Termination Fee (RBAK)
Redback Networks Inc. (RBAK) said it must pay a $61 million fee if its merger deal with Telefon AB L. M. Ericsson (ERIC) is terminated under certain conditions.
Ericsson, a Swedish mobile-phone networks maker, said on Tuesday it will buy Redback Networks in San Jose, Calif., for $2.1 billion in cash.
Redback Networks Inc. shares closed Wednesday up more than 21% at $25.66 each. They have gained more than 87% in value in the past year.
Greg Wright, Dow Jones Newswires; 202-862-3546; gregory.wright@dowjones.com
Dow Jones Newswires
December 20, 2006 19:40 ET (00:40 GMT)
Copyright (c) 2006 Dow Jones & Company, Inc.- - 07 40 PM EST 12-20-06
News for 'RBAK'-DJ Redback-Ericsson Deal
Carries $61M Termination Fee (RBAK)
Redback Networks Inc. (RBAK) said it must pay a $61 million fee if its merger deal with Telefon AB L. M. Ericsson (ERIC) is terminated under certain conditions.
Ericsson, a Swedish mobile-phone networks maker, said on Tuesday it will buy Redback Networks in San Jose, Calif., for $2.1 billion in cash.
Redback Networks Inc. shares closed Wednesday up more than 21% at $25.66 each. They have gained more than 87% in value in the past year.
Greg Wright, Dow Jones Newswires; 202-862-3546; gregory.wright@dowjones.com
Dow Jones Newswires
December 20, 2006 19:40 ET (00:40 GMT)
Copyright (c) 2006 Dow Jones & Company, Inc.- - 07 40 PM EST 12-20-06
News for 'RBAK'-DJ Redback-Ericsson Deal
Carries $61M Termination Fee (RBAK)
Redback Networks Inc. (RBAK) said it must pay a $61 million fee if its merger deal with Telefon AB L. M. Ericsson (ERIC) is terminated under certain conditions.
Ericsson, a Swedish mobile-phone networks maker, said on Tuesday it will buy Redback Networks in San Jose, Calif., for $2.1 billion in cash.
Redback Networks Inc. shares closed Wednesday up more than 21% at $25.66 each. They have gained more than 87% in value in the past year.
Greg Wright, Dow Jones Newswires; 202-862-3546; gregory.wright@dowjones.com
Dow Jones Newswires
December 20, 2006 19:40 ET (00:40 GMT)
Copyright (c) 2006 Dow Jones & Company, Inc.- - 07 40 PM EST 12-20-06