The Red Roadmasterâ€™s US Market Re-cap + Stock Talk â„˘
October 16, 2009
Date Line: Bangkok, Thailand
The DJIA and S&P 500 closed up Thursday to 2009 closing highs.
Re-cap of the US Stock Market Action for the session ending October 15, 2009 The major US stock indices extended their 2009 gains late Thursday's session by overcoming losses that stemmed from a "sell the news" reaction to the Q-3 reports from Goldie and Citi. The DJIA closed up 47.08, or 0.47% at10,062.94, the S&P 500 index rose 4.54, or 0.42%, to close at 1,096.56, and the NAS tallied up + 1.06, or 0.05%, to end the session at 2,173.29. During the day some weakness in the financial sector weighed on the broader market, but late in the day rally fueled by the energy sector helped stem the sector losses and it finished at minus 0.7%. Energy's advance came as refiners surged and Crude Oil and Nat Gas equipment stocks, plus oil and gas driller stocks spiked with a rise by Crude Oil prices, sparked by the news that weekly Crude Oil inventories increased by a smaller-than-expected 334,000 bBls helped send Crude Oil futures prices to new 2009 highs of US$77.97bbl, and settling on the day at US$77.58bbl with a 3.2% gain. The Empire State Manufacturing Index for October came in at 34.57, which topped the 17.25 that was widely expected. Advancing Sectors: Energy (+2.0%), Utilities (+0.9%), Consumer Staples (+0.8%), Telecom (+0.7%), Health Care (+0.6%), Materials (+0.4%), Industrials (+0.3%), Consumer Discretionary (+0.1%) Declining Sectors: Financials (-0.7%) Tech Sector: Unchanged NYSE - Advanced: 1,881 Declined: 1,846 Volume: 1,752,827,943 NASDAQ - Advanced 1,164 Declined: 1,539 Volume: 2,050,454,280 Stock to Watch Today
Abbott Laboratories (ABT)
Abbott Laboratories (ABT) Up-date 1
Last Look: May 12, 2009
October 16, 2009 Paul A. Ebeling, Jnr. Analyst Today, letâ€™s look at Abbott Laboratories (ABT), a US maker of pharmaceuticals and health-care products, from a Technical POV. The overall analysis after Mondayâ€™s (May 11, 2009) market action is Bearish: in the near term Neutral, mid-term Neutral, and long term Bearish. The recent Candle Stick Analysis is: Neutral.
**Chart by: http://www.stockta.com
Latest News: When Companies Beat More Than Just Earnings http://www.cnbc.com/id/33330871/site/14081545?__source=yahoo|headline|quote|text|&par=yahoo
Thursday’s Market Action
There is a DOJI on October 12 and three Gaps open up between May 4, and October 14, 2009 at 42.04/50.24, the near term resistance is NIL, support at 51.34, and the 50 day (EMA) exponential moving average is 47.65. This is. Abbott Laboratories (ABT): Filling baby bottles and soothing aching joints are a habit for Abbott. Abbott Laboratories is one of the US's top health care products makers. The company's pharmaceuticals include HIV treatment Norvir, rheumatoid arthritis therapy Humira, and obesity drug Meridia. Its nutritional products division makes such well-known brands as Similac infant formula and the Ensure line of nutrition supplements. Abbott's medical devices group makes diagnostic systems, including the FreeStyle diabetes care line, and eye surgery and care products. Its animal health division offers wound care, nutritional supplements, and IV supplies. The company sells its products in about 130 countries through affiliates and distributors.
Competitive Landscape The industry is marked by rapid advances in scientific knowledge that produce ever-more effective medicines. Profitability is determined mainly by the ability to discover new drugs. The industry is dominated by the large manufacturers/marketers that manufacture drugs, have large research operations, and also have large clinical testing, marketing, and distribution capabilities. Small companies are mainly research operations or manufacturers of non-prescription products. Because of the high value of the product, average revenue per employee is a very high US$600,000.
Pharmaceutical Manufacture and Sale Industry Forecast The output of US drug manufacturing is forecast to grow at an annual compounded rate of 8% between 2008 and 2013. Data Sourced: December 2008
Abbott Laboratories (HQ) Miles D. White Chairman, Chief Exec. Officer 100 Abbott Park Road Abbott Park, IL 60064-6400 United States Phone: 847-937-6l00 Fax: 847-937-1511 http://www.abbott.com
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