Mid-Morning Report
DJIA trading up +48.99 to 10,336.33. NASDAQ trading up +0.95 to 2,065.78. SPX trading up +3.66 to 1,190.23. Russell 2000 trading down -0.76 to 632.39. U.S. dollar strength is up +0.67% against the Yen, down -0.41% against the Euro. Light crude oil is up +0.92 to 63.55. Natural gas is up +0.47 to 14.67. Globex SP'Z futures trading up +3.51 to 1,190.08. The new bankruptcy law goes into effect today, making filing for bankruptcy more complicated and more expensive.
PALM (+1.22) is up 4.5% after signing a licensing agreement with RIMM (+1.23), which is also up 1.9%. GM (+1.72) is up 6% despite having Q3 earnings come in $1.11 below consensus estimates because they reached an agreement to cut health-care costs with their United Auto Workers union.
KKD's (UNCH) shares remain unchanged after announcing subsidiary Freedom Rings is filing for chapter 11 bankruptcy.
LZ (+0.32), RNWK (+0.25) and HMC (+0.62) are all up slightly after being mentioned positively in Barron's magazine. Reporting after the close today are IBM, LSS, NVLS and RMBS.
PALM, RIMM, GM, KKD, LZ, RNWK, HMC, IBM, LSS, NVLS, RMBS