It is Wednesday Could 10, 2006, and the metals mania continues as fear over the weakening greenback grows. Gold hit a stage that it has not been in over 26 years, it reached the $700 mark and transferring upward on the highway to $800 an oz. Now don’t low cost the opposite metals as Silver is working its solution to the $20 mark as it’s closing in on the $15 quantity. Different metals making historic motion embody Copper, Aluminum, Zinc, Platinum, Palladium and the remainder of the spectrum. Some analyst really feel that since crude oil is making its solution to the $80 a barrel mark that Gold is simply catching up and will attain the $1,000 mark or higher. Now its anybody’s guess if it could go that top however with China trying to ramp up their gold bullion reserves to the tune of double or triple, $1,000 or higher will not be such a stretch.
Now for these of you that did not get wind of the raid in Spain and the collapse of Escala Group (NASDAQ: ESCL) let’s simply offer you an replace, the inventory crumbled yesterday when phrase received out that the federal government raided the workplaces of Escala because of stamp investing fraud. The inventory closed down $19.77 to shut at $12.23 and falling, the one factor that saved it from going into the one digits was the closing bell, however there may be all the time a gap bell. I wager that the powers that be at Escala wished that this occurred on a Friday as an alternative of a Tuesday.
Needless to say the Fed Chairman Ben Bernanke might be talking immediately and so they could announce yet another hike to the 5% mark, really it is anticipated that this may occur. So preserve an in depth on banks shares resembling Citigroup (NYSE: C), J.P. Morgan Chase (NYSE: JPM), and Financial institution of America (NYSE: BAC) for alternatives if the shares ought to pull again after the announcement immediately as we defined on Wall Road to Major Road yesterday.
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Russian President Vladimir Putin delivered his nationwide handle yesterday however he didn’t contact on the feedback made by U.S. Vice President Dick Cheney, however this comes as no shock as Putin historically solely speaks about home points however make no mistake he has not forgotten the feedback. This will likely value Cheney’s little Halliburton (NYSE: HAL) potential enterprise within the area as Russia is trying to construct a number of pipelines within the close to future.
An unlikely nation has stepped as much as try to ease tensions in Iran, Indonesia’s President Susilo Bambang Yudhoyono mentioned that they might mediate in Worldwide talks to ease the stress over Iran’s nuclear aspirations.
U.S. Protection Secretary Rumsfeld mentioned that he helps the nomination of a navy basic as the top of the CIA however some critics see this because the pentagon extending their attain.
After the massive delay that former Italian Prime Minister Silvio Burlesconi prompted following the elections in Italy lastly the incoming Prime Minister Romano Prodi can get to work. He mentioned that his centre-left coalition aimed to elect Italy’s first former communist as president and be requested to type a authorities subsequent week.
Movers and Shakers
Some main movers in yesterdays buying and selling session included OM Group (NYSE: OMG) which traded up $4.30 to shut at $33.90, RTI Worldwide Metals (NYSE: RTI) which traded up $8.82 to shut at $70.42, Chipotle Mexican Grill (NYSE: CMG) which traded up $7.78 to shut at $67.05, they posted nice numbers and although we initially had our doubts in regards to the firm nobody can dispute their latest success, FMC Applied sciences (NYSE: FTI) which traded up $7.23 to shut at $66.92, BlackBoard (NASDAQ: BBBB) which closed up $5.34 to shut at $33.42.
Hansen Pure Corp (NASDAQ: HANS) which surged up $24.59 to shut at $176.24, only one 12 months in the past the inventory was buying and selling below $30 a share and we’ll be that includes the subsequent Hansen in a particular Traders Nook phase later immediately, Basic Motors (NYSE: GM) which traded up $2.25 to shut at $25.80 on its solution to $30 a the corporate’s restructuring plan consists of them reviving the American Icon and bringing again to its former glory, Empire Assets (AMEX: ERS) traded up $6.72 to shut at $41.74, and the final for immediately is Area Prescribed drugs (NASDAQ: ARNA) which traded up $1.96 to shut at $15.18.
Latest Analyst upgrades embody Fairness Life-style Properties (NYSE: ELS) which was upgraded to a Purchase from a Maintain by A.G. Edwards, SanDisk Corp (NASDAQ: SNDK) was upgraded to a Purchase from a Maintain by WR Hambrecht, Netflix (NASDAQ: NFLX) was upgraded to an Outperfrom from a Impartial by Cowen & Co, Westlake Chemical substances (NYSE: WLK) was upgraded to an Outperfrom from a Impartial by Credit score Suisse and Advanc Auto Components (NYSE: AAP) was upgraded to an Outperform from a Impartial by Credit score Suisse.
Latest Analyst downgrades embody BlackBaud (NASDAQ: BLKB) was downgraded to a Maintain from a Purchase by WR Hambrecht, Golden West Monetary (NYSE: GDW) was downgraded to a Impartial from a Purchase by FTN Midwest Analysis, Usi Holdings (NASDAQ: USIH) was downgraded to a Impartial from a Purchase by SunTrust, Robinson, Humphrey, IndyMac Bancrop (NYSE: NDE) was downgraded to a Promote from a Impartial by Banc of America Securities, and Dell (NASDAQ: DELL) receives a downgrade from Robert W. Baird to a Impartial from an Outperform.
Analyst Protection Initiations embody The Interpublic Group of Corporations (NYSE: IPG) was initiated with a Purchase ranking and worth goal of $12 by Banc of America Securities, sticking to the promoting business Banc of America Securities additionally initiated Omnicom Group (NYSE: OMC) with a Purchase ranking and a worth goal of $98, Somanetics (NASDAQ: SMTS) was initiated with a Maintain ranking and a $23 worth goal by Citigroup Funding Analysis and China Grentech Corp (NASDAQ: GRRF) was initiated with an Outperfom and a worth goal of $19.80 by Bear Stearns.
After the NYSE (NYSE: NYX) went public nobody anticipated that this could create a pattern nevertheless it appears just like the sidekick to the American Inventory Change, the Philadelphia Inventory Change is trying to go public and so they really forecast that the Philadelphia Change Ground itself is not going to exist within the subsequent two years.
At this years E3 Sony (NYSE: SNE) made some sturdy statements saying that the subsequent technology of video video games don’t begin till they are saying so whereas Microsoft (NASDAQ: MSFT) acknowledged they which can be forward of Sony in releases their Xbox consoles and can acquire further market share with the assistance of Japanese online game makers previous to the launch of the PS3. However the worth of the PS3 might prime $400 and Microsoft says that is a bonus for the Xbox, however each corporations have to preserve a watch out for Nintendo as they intend on releasing a comparable mannequin at a less expensive worth, so this could drive for decrease numbers on the PS3 and Xbox, presumably.
Verizon (NYSE: VZ) could also be buying round their phone line enterprise as Voip is taking market share away from conventional telephone corporations. This will likely fetch over $8 billion that Verizon might use to get forward of Time Warner (NYSE: TWX) and Comcast (NASDAQ: CMCSA).
Yahoo (NASDAQ: YHOO) is trying to benefit from the rising Hispanic market as they’re near merging the Spanish language Yahoo website with Telemundo’s web page. This may very well be a strategic transfer for Yahoo to realize market share in that space, there could also be comparable offers like this made sooner or later in different languages.
Altera (NASDAQ: ALTR) makes a transfer to keep away from them becoming a member of the Energy Integrations (NASDAQ: POWI), United Healthj (NYSE:UNH), Vitesse (NASDAQ: VTSS) and Comverse Know-how (NASDAQ: CMVT) membership simply but. The board of Altera has demanded an unbiased probe into historic inventory choices practices by the corporate. So we’ll see if this proactive transfer pays off for Altera.
Within the Highlight
Within the highlight immediately is an organization that has felt the ache for a while, so allow us to offer you out tackle Elan (NYSE: ELN).
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That is the Second of our “Livid 5” corporations that we see excelling of their business in 2006. The second addition to this week’s Livid 5 is Radyne Corp (NASDAQ: RADN) it trades on the Nasdaq below the image RADN.
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We can’t stress sufficient that traders have to do their due diligence, name the businesses, get the knowledge, seek the advice of together with your funding advisor and in the event you should not have one contemplate getting one. Put the identical time into investigating these corporations as you do once you go to buy a brand new tv, it is solely in your safety. In the case of thinly traded securities stagger your orders or put a restrict order in to keep away from a run up.
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