Its Wednesday April 26, 2006, and after President Bushs speech yesterday oil markets are still towing the line as the main catalyst is still the situation in Iran, the rising prices at the pump has a big question mark on it as the switch to the ethanol additive may partially be to blame.
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Political Front
Twin suicide attacks targeting security personnel rocked northern Sinai near the Gaza Strip today, two days after triple bombings killed at least 18 people in a resort further south.
It looks as though Fox News Tony Snow will be named White House press secretary by President Bush at some point this morning, an excellent replacement for Bush.
US Secretary of State Condoleezza Rice and Defence Secretary Donald Rumsfeld made a surprise visit to Iraq to show support for the country's emerging new government.
Added note:
The film about United Flight 93 that depicts the events of September 11 has premiered at the Tribeca Film and over 90 relatives of the victims of Flight 93 attended the premiere. Robert DeNiro acknowledged the presence of the relatives and the nature of the film as he addressed the audience before the showing.
On a personal note, being a New Yorker and seeing first hand the devastation that day, almost losing my wife in the WTC and attending countless wakes, I have to say that even though for most this may be a hard film to watch, it is a story that must be told so that we do not forget those that were lost and those heroes that never made it back home. I have yet to see the film but for Robert DeNiro to allow it to be shown at the Tribeca Film festival it had to be worthy.
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Movers and Shakers
Some major movers in yesterday's trading session include Pope and Talbot (NYSE: POP) which traded up $1.29 to close at $7.05, Great American Financial (NYSE: GFR) which traded up $2.53 to close at $22.65, Millipore Corp (NYSE: MIL) which traded up $5.90 to close at $75.25, NewMil Bancorp (NASDAQ: NMIL) which traded up $10.92 to close at $39.83, NurtiSystem (NASDAQ: NTRI), a company that is in its zone with summer creeping ever so close, the stock traded up $17.31 to close at $68.01, Serologicals (NASDAQ: SERO) which traded up $7.83 to close at $31.15, Zoran Corp (NASDAQ: ZRAN) which traded up $6.50 to close at $29.13 and Indymac Bancorp (NYSE: NDE) which traded up $5.94 to close at $75.99.
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Tid Bits
Caterpillar (NYSE: CAT) ripped through 1st quarter projections with a 48% rise in profits beating the analyst estimate and still the stock of the heavy machinery company was pounded yesterday as it closed at $74.93 down $2.45. But just like Advanced Micro Devices (NYSE: AMD), this company was oversold and for all intents and purposes is still at a discount as it has to potential to go into the double digits this year.
Boeing (NYSE: BA) is not only a company to watch as earnings are on the way but its a stock to own. With major contracts being signed with China as of late its only a matter of time before that relationship grows a lot stronger, one other avenue of growth is Boeing tapping into the other emerging market India. So there are a lot of opportunities for growth as the stock has the potential to be a $100 stock in the next 6 to 12 months.
Amazon.coms (NASDAQ: AMZN) earnings slide down over 35% as they announced 1st quarter earnings of 12 cents per share, compared with $78 million, or 18 cents per share, in the same period a year ago. They painted a colorful picture as they gave some guidance for future quarters but proceed with caution as competition is going to get fierce in 2006/07 and the rising oil prices will drive up their shipping cost and will eat into their earning ability..
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FURIOUS FIVE
This is the third of our Furious Five companies that we see excelling in their industry in 2006. Our third addition to this weeks Furious Five is Power Integrations Inc (NASDAQ: POWI) it trades on the Nasdaq under the symbol POWI.
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We cannot stress enough that investors need to do their due diligence, call the companies, get the information, consult with your investment advisor and if you do not have one consider getting one. Put the same time into investigating these companies as you do when you go to purchase a new television, its only for your protection. When it comes to thinly traded securities stagger your orders or put a limit order in to avoid a run up.
NAMC Newswire Note
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Louis Victor NAMC Newswire 888-463-9237
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Louis Victor is the host of the syndicated podcast show and financial newsletter "Wall Street to Main Street" which is featured on the NAMC Newswire Radio. He has been involved in the financial industry for over two decades, on the retail and investment banking ends. He is also well versed in the advertising and marketing industries, which has given him insight into market trends and unqiue companies that may be under the radar.