The Daily Courier, Forest City, NC, Thursday, April 15, 2010 — 11
Business/finance
THE MARKET IN REVIEW
STOCK EXCHANGE HIGHLIGHTS
u
NYSE
7,728.96 +90.61
GAINERS ($2 OR MORE)
Name Last Chg FredM pfK 2.05 +.38 PhnxCos 3.74 +.66 GATX pf 175.00+24.00 HovnanE 5.28 +.65 GrayTelev 3.50 +.41 DrxSOXBll 53.69 +6.12 Entercom 14.99 +1.66 Pier 1 9.59 +1.02 BeazerHm 5.63 +.58 AldIrish 4.40 +.44
%Chg +22.8 +21.4 +15.9 +14.0 +13.3 +12.9 +12.5 +11.9 +11.5 +11.1
LOSERS ($2 OR MORE)
Name Last Chg MLDJREst104.71 -.92 DrxSOXBr 27.95 -4.16 BkA SP2-159.74 -1.43 W Holding 7.48 -.78 MLSPRt5-102.92 -.25 PrUShtSem13.98 -1.16 DirFBear rs10.90 -.90 CascalNV 7.10 -.57 DirxSCBear 5.89 -.41 PrUPShR2K43.15-2.95
%Chg -16.3 -13.0 -12.8 -9.4 -7.9 -7.7 -7.6 -7.4 -6.5 -6.4
MOST ACTIVE ($1 OR MORE) Name Vol (00) Last Chg Citigrp 9566663 4.93 +.31 BkofAm 2375642 19.40 +.73 AmbacF h 2095712 1.86 +.24 FordM 1511866 13.35 +.56 S&P500ETF1415608121.19+1.36 SPDR Fncl 1206573 17.05 +.43 Pfizer 904842 17.07 -.11 GenElec 798416 19.35 +.40 FannieMae 750582 1.27 +.09 JPMorgCh 683989 47.73 +1.86 Advanced Declined Unchanged Total issues New Highs New Lows Volume
DIARY
2,383 715 97 3,195 609 8 5,735,133,678
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AMEX
1,981.84 +7.83
GAINERS ($2 OR MORE)
Name Last RexahnPh 2.15 MercBcp 3.50 MagHRes 4.65 Lannett 4.94 TrnsatlPt n 3.86 EngySvc un 4.75 NA Pall g 4.89 CheniereEn 5.20 UQM Tech 4.10 EstnLtCap 2.80
Chg +.39 +.63 +.45 +.44 +.32 +.35 +.34 +.33 +.26 +.15
%Chg +22.2 +22.0 +10.7 +9.8 +9.0 +8.0 +7.5 +6.8 +6.6 +5.7
LOSERS ($2 OR MORE)
Name Last CoreMold 4.98 SunLink 2.77 CCA Inds 5.47 Engex 4.56 Augusta g 2.65 PyramidOil 6.98 AdcareH wt 2.65 TrioTch 4.00 IEC Elec n 5.09 SCEd pfB 18.10
Chg -.61 -.34 -.62 -.48 -.11 -.27 -.10 -.15 -.18 -.64
%Chg -10.9 -10.9 -10.1 -9.5 -4.0 -3.7 -3.6 -3.6 -3.4 -3.4
MOST ACTIVE ($1 OR MORE) Name Vol (00) Last Chg RexahnPh 146502 2.15 +.39 AdeonaPh 95456 1.89 +.37 RadientPh 68466 1.30 -.40 EndvrInt 46973 1.56 +.16 Rentech 44223 1.09 +.07 NA Pall g 39003 4.89 +.34 MagHRes 29665 4.65 +.45 BootsCoots 27254 2.95 ... Taseko 25748 6.14 +.25 YM Bio g 25583 1.71 +.05 DIARY
Advanced Declined Unchanged Total issues New Highs New Lows Volume
314 175 41 530 39 2 175,790,685
u
DAILY DOW JONES
NASDAQ
Dow Jones industrials Close: 11,123.11 Change: 103.69 (0.9%)
2,504.86 +38.87
GAINERS ($2 OR MORE)
Name Last DialCpA 11.21 CmstkHm h 2.05 MdwstB pf 3.18 Encorm rs 4.10 TricoMar 3.01 RoylBcPA 3.67 Point.360 2.29 Entegris 5.94 Kulicke 9.37 PFSweb 3.74
Chg +4.69 +.79 +1.11 +1.03 +.72 +.68 +.40 +1.00 +1.51 +.48
%Chg +71.9 +62.7 +53.6 +33.6 +31.4 +22.7 +21.2 +20.2 +19.2 +14.7
LOSERS ($2 OR MORE)
Name Last MolecInP h 2.88 AtlCstFd 3.15 HeritOkB 3.82 LML Pay 2.07 SecNtl lf 2.75 ChinAgri s 19.00 SinoCkg n 23.19 Cinedigm 2.67 WestwdO n 8.00 SonicFdy rs 7.25
Chg -.55 -.50 -.43 -.22 -.29 -1.70 -2.05 -.23 -.68 -.59
%Chg -16.0 -13.7 -10.1 -9.6 -9.5 -8.2 -8.1 -7.9 -7.8 -7.5
MOST ACTIVE ($1 OR MORE)
Name Vol (00) Popular 2047055 SiriusXM h 2024559 Intel 1499300 ETrade 826649 Microsoft 668204 PwShs QQQ610501 Palm Inc 586499 Dell Inc 564143 MicronT 488128 ApldMatl 446384
Advanced Declined Unchanged Total issues New Highs New Lows Volume
Last Chg 3.94 +.44 1.07 +.11 23.52 +.75 1.70 +.02 30.82 +.37 49.91 +.59 5.32 +.16 16.56 +.84 11.30 +.54 14.41 +.61
DIARY
2,158 558 99 2,815 373 8 2,950,608,773
11,160
52-Week High Low
10 DAYS
10,980
11,038.92 4,544.08 408.57 7,661.13 1,984.72 2,467.94 1,199.20 819.03 12,568.91 707.24
10,800
11,200 10,800 10,400
7,791.95 2,883.88 324.39 5,177.30 1,336.87 1,598.93 826.83 517.03 8,441.04 448.93
STOCK MARKET INDEXES Name
Dow Industrials 11,123.11 +103.69 Dow Transportation 4,645.03 +108.37 Dow Utilities 383.98 -.36 NYSE Composite 7,728.96 +90.61 Amex Market Value 1,981.84 +7.83 Nasdaq Composite 2,504.86 +38.87 S&P 500 1,210.65 +13.35 S&P MidCap 831.07 +12.38 Wilshire 5000 12,708.08 +153.84 Russell 2000 722.40 +15.37
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Neil Cotty, who had been interim CFO since Feb. 1, will remain Bank of America’s chief accounting officer and report to Noski. Bank of America is still trying to recover from the recession and integrate its acquisitions of Merrill Lynch and mortgage lender Countrywide Financial Corp. The Merrill Lynch deal has been the most controversial. Bank of America was sharply criticized after it was learned that Merrill Lynch executives were awarded big bonuses just before the deal closed on Jan. 1, 2009. Those bonuses were given although Merrill Lynch suffered much heavier losses than expected during the credit crisis. Plath said that Noski, while not a banking industry insider, does have two things the bank needs: calmness and no connection with Merrill Lynch. “Bank of America needed a guy who has a reputation of being honest and a straight-shooter with shareholders because they’ve got a lot of ruffled feathers,” Plath said. The bank reports its first-quarter earnings on Friday. Bank of America shares rose 61 cents, or 3.3 percent, to $19.28 in afternoon trading Wednesday after rising to a 52-week high of $19.41 earlier.
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+.94 +2.39 -.09 +1.19 +.40 +1.58 +1.12 +1.51 +1.23 +2.17
+6.67 +13.30 -3.53 +7.57 +8.60 +10.39 +8.57 +14.37 +10.04 +15.51
12-mo %Chg
+38.53 +56.12 +15.85 +43.53 +40.73 +53.97 +42.09 +57.04 +46.20 +56.66
PIMCO TotRetIs American Funds GrthAmA m Vanguard TotStIdx Fidelity Contra TOCKS OF OCAL NTEREST American Funds CapIncBuA m American Funds CpWldGrIA m YTD YTD Vanguard 500Inv Name Div Yld PE Last Chg%Chg Name Div Yld PE Last Chg %Chg American Funds IncAmerA m AT&T Inc 1.68 6.4 12 26.24 +.04 -6.4 LeggPlat 1.04 4.7 30 22.14 +.30 +8.5 American Funds InvCoAmA m Vanguard InstIdx Amazon ... ... 71 144.28 +4.12 +7.3 Lowes .36 1.4 22 26.59 +.37 +13.7 Dodge & Cox Stock ArvMerit ... ... ... 15.04 +.02 +34.5 Microsoft .52 1.7 17 30.82 +.37 +1.1 American Funds EurPacGrA m American Funds WAMutInvA m BB&T Cp .60 1.7 29 34.55 +1.04 +36.2 PPG 2.16 3.1 24 69.51 +.18 +18.7 Dodge & Cox IntlStk BkofAm .04 .2 ... 19.40 +.73 +28.8 ParkerHan 1.00 1.4 41 70.54 +.78 +30.9 American Funds NewPerspA m BerkHa A ... ... 23121100.00+245.00 +22.1 ... -4.9 PIMCO TotRetAdm b Cisco ... ... 26 26.88 +.44 +12.3 ProgrssEn 2.48 6.4 13 39.01 American Funds FnInvA m RedHat ... ... 71 32.09 +.93 +3.9 Fidelity DivrIntl d Delhaize 2.01 2.4 ... 85.41 +.98 +11.3 Dell Inc ... ... 23 16.56 +.84 +15.3 RoyalBk g 2.00 ... ... 61.34 +2.00 +14.5 FrankTemp-Franklin Income A m DukeEngy .96 5.9 14 16.21 -.01 -5.8 SaraLee .44 3.1 12 14.20 +.01 +16.6 American Funds BalA m Vanguard TotStIAdm ExxonMbl 1.68 2.4 17 68.61 -.05 +.6 SonicAut ... ... 12 12.59 +.71 +21.2 Vanguard 500Adml FamilyDlr .62 1.6 17 38.97 +.05 +40.0 SonocoP 1.08 3.3 22 32.77 +.80 +12.0 Vanguard Welltn Fidelity GrowCo FifthThird .04 .3 21 14.94 +.61 +53.2 SpectraEn 1.00 4.3 18 23.35 +.20 +13.8 American Funds BondA m FCtzBA 1.20 .6 19 207.55 +2.84 +26.5 SpeedM .40 2.5 ... 16.03 +.34 -9.0 Vanguard TotIntl d GenElec .40 2.1 19 19.35 +.40 +27.9 Timken .36 1.1 ... 31.54 +.50 +33.0 Fidelity LowPriStk d GoldmanS 1.40 .8 9 184.92 +5.67 +9.5 Vanguard InstPlus UPS B 1.88 2.9 30 65.45 +.57 +14.1 T Rowe Price EqtyInc Google ... ... 29 589.00 +2.23 -5.0 KrispKrm ... ... ... 5.04 +.16 +70.8 WalMart 1.21 2.2 15 54.64 -.08 +2.2 Hartford CapAprA m Pioneer PioneerA m Goldman Sachs ShDuGovA m Stock Footnotes: g = Dividends and earnings in Canadian dollars. h = Does not meet continued-listing standards. lf = Late filing with SEC. n = New in past 52 weeks. pf = Preferred. rs = Stock has undergone a reverse stock split of at least 50 Alliance Bernstein GrowIncA m percent within the past year. rt = Right to buy security at a specified price. s = Stock has split by at least 20 percent within the DWS-Scudder REstA m Hartford GrowthL m last year. un = Units. vj = In bankruptcy or receivership. wd = When distributed. wi = When issued. wt = Warrants.
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Mutual Fund Footnotes: b = Fee covering market costs is paid from fund assets. d = Deferred sales charge, or redemption fee. f = front load (sales charges). m = Multiple fees are charged. NA = not available. p = previous day’s net asset value. s = fund split shares during the week. x = fund paid a distribution during the week.Gainers and Losers must be worth at least $2 to be listed in tables at left. Most Actives must be worth at least $1. Volume in hundreds of shares. Source: The Associated Press. Sales figures are unofficial.
Total Assets Obj ($Mlns) NAV
Total Return/Rank Pct Min Init 4-wk 12-mo 5-year Load Invt
CI 125,962 LG 67,825 LB 63,652 LG 58,318 IH 58,013 WS 55,947 LB 50,594 MA 50,104 LB 49,629 LB 47,376 LV 42,708 FB 40,410 LV 39,096 FV 38,943 WS 33,256 CI 32,107 LB 31,990 FG 31,331 CA 30,818 MA 30,432 LB 30,325 LB 29,886 MA 29,486 LG 29,164 CI 27,231 FB 27,194 MB 26,567 LB 26,416 LV 16,648 LB 10,075 LB 4,428 GS 1,503 LV 1,253 SR 469 LG 192
+0.7 +14.5/C +4.6 +42.3/D +5.6 +50.1/B +4.3 +43.9/C +2.1 +31.8/C +4.0 +44.3/D +5.4 +46.9/B +2.4 +38.1/B +4.6 +40.6/E +5.4 +47.1/B +5.7 +57.8/A +4.4 +47.6/B +4.4 +40.1/E +4.7 +60.7/A +4.2 +48.1/C +0.7 +14.3/C +4.7 +45.3/C +4.5 +45.8/D +3.0 +43.8/A +2.9 +32.6/D +5.6 +50.2/A +5.4 +47.1/B +3.5 +34.8/C +5.4 +53.6/A +0.4 +17.1/B +4.6 +51.9/A +5.6 +56.8/C +5.4 +47.2/B +7.3 +53.7/A +4.5 +50.8/A +5.2 +45.1/C 0.0 +3.2/B +4.3 +36.1/E +8.3 +94.2/B +6.2 +46.9/B
11.06 29.41 30.15 62.47 48.97 35.13 111.60 16.12 27.53 110.86 106.00 39.89 26.11 33.98 27.09 11.06 35.15 29.16 2.13 17.11 30.16 111.61 30.35 76.45 11.98 15.16 36.09 110.87 23.33 32.90 38.79 10.36 3.16 16.07 16.54
+7.4/A +5.2/B +3.8/B +6.7/A +4.7/C +7.1/A +2.9/C +4.2/B +3.5/B +3.0/C +1.6/D +8.9/A +2.0/C +6.9/A +7.8/A +7.2/A +6.1/A +4.7/D +5.2/A +3.7/C +3.9/B +3.0/C +6.3/A +8.3/A +3.1/E +6.5/A +6.4/A +3.0/C +3.4/B +6.1/A +3.5/B +4.8/A +0.3/E +4.6/C +3.7/C
NL 5,000,000 5.75 250 NL 3,000 NL 2,500 5.75 250 5.75 250 NL 3,000 5.75 250 5.75 250 NL 5,000,000 NL 2,500 5.75 250 5.75 250 NL 2,500 5.75 250 NL 5,000,000 5.75 250 NL 2,500 4.25 1,000 5.75 250 NL 100,000 NL 100,000 NL 10,000 NL 2,500 3.75 250 NL 3,000 NL 2,500 NL200,000,000 NL 2,500 5.50 2,000 5.75 1,000 1.50 1,000 4.25 2,500 5.75 1,000 4.75 0
CA -Conservative Allocation, CI -Intermediate-Term Bond, ES -Europe Stock, FB -Foreign Large Blend, FG -Foreign LargeGrowth, FV -Foreign Large Value, IH -World Allocation, LB -Large Blend, LG -Large Growth, LV -Large Value, MA -Moderate Allocation, MB -Mid-Cap Blend, MV Mid-Cap Value, SH -Specialty-heath, WS -World Stock, Total Return: Chng in NAV with dividends reinvested. Rank: How fund performed vs. others with same objective: A is in top 20%, E in bottom 20%. Min Init Invt: Minimum $ needed to invest in fund. Source: Morningstar.
BoA’s new CFO coming from outside the bank CHARLOTTE (AP) — Bank of America said Wednesday it named an outsider, former Northrop Grumman executive Charles H. Noski, as its chief financial officer. Bank of America Corp. was expected to bring in leaders from outside as it tries to improve relations with regulators, handle investigations into the bank’s purchase of Merrill Lynch, and restore shareholder morale. “It shows (CEO Brian) Moynihan trying to put his fingerprint on the company and change out some of the senior people,” said FBR Capital Markets analyst Paul Miller. “Noski is not coming in to fix anything, but can he put the story in a better light for investors.” Noski, 57, succeeds Joe Price, who now heads Bank of America’s consumer and small business banking division. That unit includes the lending operations still struggling to recover from the financial crisis and the recession. Price had been CFO since January 2007. Noski will join the Charlotte, N.C.-based bank May 11. He had previously been CFO at the defense contractor Northrop Grumman and before that, was vice chairman and CFO for AT&T. Noski has also been a director at Morgan Stanley and other companies and served as a senior advisor to private equity firm The Blackstone Group. Tony Plath, a finance professor at the University of North Carolina at Charlotte, said Noski has a steep learning curve ahead. “Yes, he has CFO experience, but this is one of the most complicated companies in the world,” Plath said. “Bank of America just isn’t one company. They are a market leader in four or five financial services businesses.” Noski will handle all of the company’s finance responsibilities as well as oversee its corporate treasury and global corporate strategy planning and development.
YTD %Chg %Chg
MUTUAL FUNDS
10,000 9,600
Net Chg
Last
Federal Reserve Chairman Ben Bernanke testifies on Capitol Hill in Washington, Wednesday, April 14, 2010, before the Joint Economic Committee hearing on the economy. Associated Press
Better days here? Economic rebound gains strength WASHINGTON (AP) — Shoppers and businesses are feeling better about the recovery. That was the encouraging message from a trio of economic reports Wednesday — and from Federal Reserve Chairman Ben Bernanke, who told lawmakers that the country’s modest rebound is sustainable. Retail spending rose sharply in March. Consumer inflation remained all but invisible. And businesses boosted their stockpiles in anticipation of higher shopper demand. The improving economy also lifted first-quarter earnings at JPMorgan Chase & Co. That was the latest sign that the biggest banks are gradually putting the financial crisis behind them. Bernanke spoke on the same day that the Fed reported the recovery is spreading to most parts of the country. Merchants are enjoying better sales and factories are boosting production, but companies are still wary of ramping up hiring, the Fed reported. But Bernanke also told Congress that the recovery is not strong enough to shrink the unemployment rate much. Some economists were surprised by the retail sales gains, especially in light of the current 9.7 percent unemployment rate. “Unemployment rates may be high, consumer confidence may be low and job and income gains may be minimal, but that doesn’t seem to be stopping people from shopping,” said Joel Naroff, chief economist at Naroff Economic Advisors. Naroff and others question
whether the spending gain can be sustained. “We still fear it won’t be,” Paul Ashworth, a senior economist at Capital Economics, wrote in a research note. “High unemployment, weak income growth, low confidence, tight credit conditions and the need for debt (reduction) all point to restrained consumption growth over the next couple of years.” Still, better weather and auto incentives brought shoppers out in force last month. It was the latest evidence of a gradually strengthening recovery. Sales surged 1.6 percent, the Commerce Department said, up from February’s revised 0.5 percent gain. That was better than most economists had predicted. Increases were posted across the board. Car dealers, home furnishing stores, building suppliers, sporting goods stores, clothing retailers and general merchandise stores all reported gains. Auto sales surged the most since October. Separately, the government said consumer prices inched up just 0.1 percent in March. And excluding food and energy, prices were unchanged in March. Over the past 12 months, those prices have risen at the slowest pace in six years. Still, households remain under pressure as hourly earnings fell again last month. Businesses also boosted their stockpiles for the second straight month in February. That’s a sign that they expect consumers to keep spending.
Gifts to Treasure
Factories, retailers and wholesalers had slashed inventories during the recession as sales plummeted. Sustained gains in sales may persuade businesses to continue rebuilding their stockpiles. That would stimulate factory production and support the economic recovery. The recovery has begun to benefit the largest banks, such as JPMorgan. It reported Wednesday a $3.3 billion firstquarter profit on solid gains in the financial markets. Its report also signaled some good news on the economy: The dollar amount of its loans in or near default fell. The positive news lifted spirits on Wall Street. The Dow Jones industrial average finished up nearly 1 percent, and other major stock indexes surged even more. Economists closely watch retail sales for signs that consumer spending, which fuels about 70 percent of the economy, is recovering. Shoppers cut back sharply and boosted their savings during the Great Recession. Some appear to be spending more freely now. “Consumers are coming out of their shells despite a very weak labor market,” said Zach Pandl, an economist at Nomura Securities. They have “emerged from the financial crisis with fewer scars than we had feared.” Pandl estimates consumer spending rose by as much as 4 percent in the January-to-March quarter. That would more than double the 1.6 percent rise in last year’s fourth quarter. And it would amount to the biggest quarterly gain in three years.
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