The Dow Lost 16 Points, Nasdaq Gains 1
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The Dow lost 15.54 points today to close at 12,487.02, the Nasdaq added 1.25 points to close at 2,435.49, and the S&P 500 dropped 1.72 points to close at 1,422.18.
Volume was modest with 2.2 billion shares trading on the NYSE and 2.06 billion trading on the Nasdaq.
Advancers topped Decliners by a margin of 19:14 on the NYSE and 18:12 on the Nasdaq.
In Individual stories, Novelis Inc. (NYSE: NVL) gained 23.8% after the company announced it is currently in discussions with various parties that could lead to a potential sale of the Company.
LECG Corporation (NASDAQ: XPRT) fell 23% after announcing fourth quarter 2006 revenues are estimated to be in the range of $88.5 to $89.5 million compared with guidance of $90.0 to $95.0 million given on October 31, 2006. Net income for the quarter is expected to be in the range of $3.4 to $3.9 million or $0.14 to $0.15 per diluted share, compared with guidance of $6.2 to $6.9 million or $0.25 to $0.27 per diluted share. (Q4 EPS consensus is $0.26 and revenue consensus is $91.51 million)
Companies expected to report earnings on Monday are: Cummins (NYSE: CMI), Mattel (NYSE: MAT), Phelps Dodge (NYSE: PD), Schering-Plough (NYSE: SGP), Tyson Foods (NYSE: TSN), and Verizon (NYSE: VZ).
Volume was modest with 2.2 billion shares trading on the NYSE and 2.06 billion trading on the Nasdaq.
Advancers topped Decliners by a margin of 19:14 on the NYSE and 18:12 on the Nasdaq.
In Individual stories, Novelis Inc. (NYSE: NVL) gained 23.8% after the company announced it is currently in discussions with various parties that could lead to a potential sale of the Company.
LECG Corporation (NASDAQ: XPRT) fell 23% after announcing fourth quarter 2006 revenues are estimated to be in the range of $88.5 to $89.5 million compared with guidance of $90.0 to $95.0 million given on October 31, 2006. Net income for the quarter is expected to be in the range of $3.4 to $3.9 million or $0.14 to $0.15 per diluted share, compared with guidance of $6.2 to $6.9 million or $0.25 to $0.27 per diluted share. (Q4 EPS consensus is $0.26 and revenue consensus is $91.51 million)
Companies expected to report earnings on Monday are: Cummins (NYSE: CMI), Mattel (NYSE: MAT), Phelps Dodge (NYSE: PD), Schering-Plough (NYSE: SGP), Tyson Foods (NYSE: TSN), and Verizon (NYSE: VZ).
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