Welcome to The Daily Stock Report...brought to you by Quality Stocks.Net, performance tracked daily.
I'm Cathy Rankin and for Monday February 19th.... we're bringing you the latest news from around the markets as well as the top movers to look out for today...
In Headline News Today...
After three consecutive days of gains, stocks looked lethargic Friday, trading in a narrow range throughout the session before closing relatively unchanged. The bulls still put up a respectable fight, however, since the
Dow in the closing minutes limped into the finish with its 30th record close since October.
Also overshadowing another day of M&A was an exaggerated decline in housing starts. AMR Corp., a suggested holding in our Active Portfolio, is reportedly being eyed as a takeover target by a group that includes Goldman Sachs and British Airway.
It was also reported that General Motors is in talks to buy the entire Chrysler Group.
Just three days ago, Fed Chairman Bernanke said he sees economic growth strengthening somewhat as the drag from housing diminishes. However, a larger than expected 14.1% decline in January housing starts to 10-year lows, whether an aberration or not due to the volatile nature of the report, failed to provide further proof that the struggling housing sector has not bottomed out.
The latest read on inflation at the wholesale level also hit the wires at 8:30 ET. Total PPI and core PPI matched economists' forecasts; but since the data won't alter inflation expectations, the report failed to provide investors with overwhelming evidence that pricing pressures are abating. The focus now turns to next week's more closely-watched CPI report.
From a sector standpoint, Honeywell becoming the third Dow component this week to announce a sizable share buyback kept the Industrials sector in focus. However, further consolidation in railroads and weakness in the aerospace group earmarked the influential sector as the day's worst performer.
Oil prices surging 2.4% without any follow-through in energy stocks further underscored the market's cautious tone after such an impressive week for equities overall.
In Our Small Cap News today...
Let's take a look at some of the top percentage gainers from the first half of February and highlight some were able to maintain some of their momentum.
Magellan Energy Ltd. announced last Tuesday through the companies corporate update for quarter 1 2007 Magellan currently has an option to acquire up to 200 low producing oil wells located in the domestic United States.
The Company will be deciding which of the options its wishes to trigger and will be looking for the wells that will offer the most cost effective and profitable returns.
Irwin Resources Inc. announced the Company has signed an agreement with Mr. Donald C. Carter an expert in the mining industry, will acquire 25 claims Mr. Carter staked in the historic Barkerville-Quesnel area of British Columbia (BC).
Irwin Resources is a junior resource company based in Vancouver , B.C. Irwin Resources engages in the acquisition, exploration and development of resources properties with the intent to prove up mineral deposits.
247MGI Inc. is in an ongoing effort to keep shareholders advised as of the company's new business objectives as well as its current capitalization announces and defines the stock availability and actual float available for trading.
247MGI's Chief Executive Officer Matt Dwyer, reported, ``As of February 18th 2007 there are 26,315,362 common shares available for trading of which approximately 2,839,502 common shares are held by the public and the balance is held by insiders and others which are restricted.''
Palomar Enterprises announces the Date of Record for shareholders to receive a dividend, is set for March 8th, 2007. Shareholders of record will be entitled to receive a dividend of free trading stock in The Company's subsidiary, "The BlackHawk Fund.". Palomar Enterprises will distribute 10 Million shares on a pro-rata basis to its shareholders. This is the first of several planned dividends that Palomar expects to distribute on a quarterly basis.
And that's it for the news makers... Be sure to join us every market day for the latest commentary... on small cap to large cap and everything in between brought to you by Quality Stocks. Net.
Also be sure to watch for "The QualityStocks Daily Newsletter" available each trading day through QualityStocks.Net
Thank you for tuning in, I'm Cathy Rankin. Have a great day and we'll see you tomorrow, right here on the daily report.
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QualityStocks Daily Video 02/15/2007by QualityStocks1,272 views
funny video lets chat
ANY GUYS UP? 5l
88261 3 years ago