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Old 12-10-2003, 10:09 AM
jjgold jjgold is offline
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07:16 ET Neurocrine Bio reports positive clinical trial results (NBIX) 53.00: Co announces positive preliminary results from its Phase II/III clinical trial for the immediate release formulation of indiplon, achieving highly statistically significant results in patients with chronic insomnia characterized by waking up in the middle of the night.
07:14 ET Maxtor hard drives selected by Toshiba (MXO) 9.91: Co announces that its Maxtor QuickView consumer electronics hard drives have been selected for Toshiba's HDD & DVD video recorder series -- RD-XS32, RD-XS35 and RD-X4. These new offerings come equipped with Maxtor QuickView 80GB, 160GB, and 250GB hard disk drives which are designed specifically for consumer electronics applications.
07:11 ET Connetics Corp announces that user fee not required for Extina (CNCT) 16.65: Co announces that it received notification from the FDA that no user fee is required for the new drug application (NDA) seeking marketing clearance for Extina. "Consistent with our other NDA filings, we did not believe a user fee was due, and it is a positive development to have reached agreement with the FDA on this matter. Considering the time required to resolve the user fee issue, we now anticipate receiving marketing clearance for Extina by the end of 2004."
07:10 ET RealNetworks jukebox service up 17% in Nov (RNWK) 5.03: Co announces that users of its Rhapsody Internet jukebox service played more than one million songs per day on average in November, a jump of more than 17% from October.
07:10 ET Microsoft concerns highlighted in WSJ; Some investors see value stock (MSFT) 26.38: The Wall Street Journal's "Heard on the Street" column highlights MSFT given its stock being up a "measly" 2% this year versus the skyrocketing Nasdaq being up 43%. According to the article, the co's problems are due to the shifting taste of investors coupled with growing skepticism about the co's growth prospects. Given the co's performance this year, some people are starting to look at the company as a "value" stock. The co's shares trade at a multiple of about 26 times earnings of the past 12 months, which is high compared with the historic P/E of the market but inexpensive compared with other tech stocks. The current P/E of the Nasdaq 100 is 64 and MSFT has traded with a P/E as high as 76 in 1999. Rick Sherlund, an analyst at Goldman Sachs, believes ORCL's earnings next week could boost the stock. He states, "We'll be looking at Oracle as a possible catalyst to demonstrate that the software business is beginning to show tangible improvement."
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Old 12-10-2003, 06:23 PM
jjgold jjgold is offline
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3:00PM: As mentioned previously, the market has had a tendency to reverse its activity in the last hour of trade... Similarly, in today's session, with the major averages having failed to make much headway to the upside and the Nasdaq having dipped below the psychologically important 1900 level, traders are taking the last hour and a half as an opportunity to unload positions, forcing the major averages to new session lows... Among the laggards of note are the hardware, networking, software, telecommunications, biotech, banking, transportation, broker/dealer, and gold sectors...
The latter is lower by 3.7%, as indicated by the XAU index... Its weakness coincides with a $1.90 drop in the price of gold to $407/oz, incited by the dollar's gains against the euro... Note that the price of gold had set a new multi-year high of $413.30/oz earlier in the session... In other commodities, the price of crude oil is up $0.19 to $31.95/bbl after a Department of Energy report revealed that supplies fell 6.4 mln barrels, or 2.3%, to 277.9 mln barrels in the week ended December 5...NYSE Adv/Dec 1166/2066, Nasdaq Adv/Dec 992/2117

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