Monday, December 18, 2006

Monday Morning Musings

The market is getting another nice bounce at the open. It seems like that has been the pattern lately. Of course, I prefer a market that opens weak and builds strength into the close. But I still think last week's breakout of the COMP should have some legs.

More M&A activity is helping, like this morning's $26 billion offer for Caremark (CMX) by Express Scripts (ESRX).

Oil and gas are lower again, weighing on the energy complex. Bond yields are flat, hovering just below 4.60%.

Semis are the strongest group so far, while energy and commodities are the weakest.

In other news and notes:
  • Barron's mentions insider selling at ZUMZ
  • H gets acquired by Apollo Management for $9B
  • BMET now in focus of private-equity firms
  • Asian stocks rise overnight
  • UA, formerly UARM, moves to NYSE
  • SNE to enter video download market
  • JOYG beats earnings, stock gaps higher
  • WSJ questions GOOG's earnings power
  • AKAM downgraded to Hold at Kaufman
  • JNJ added to BofA's Fresh Money Focus List
  • GOOG estimates raised at JP Morgan
  • SNDK announces $300M stock buyback



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