Opening Bell Report


November retail sales were mixed while home foreclosures jumped to an all-time high in the 3rd quarter.  The Dow added 20 points to 13,465 while Nasdaq climbed 10 points to 2676.

On the upside

Transocean (NYSE: RIG) announced the pricing of $5.95 billion in convertible senior notes.

Hoku Scientific (Nasdaq: HOKU) entered into a financing agreement for construcion of a $185 million polysilicon plant.

A possible freeze in the interest rates of subprime loans lifted financial and lending stocks.  Novastar Financial (NYSE: NFI) shares rose.

On the downside

Discount retailer Target (NYSE: TGT) reported disappointing November results.  Sales met analysts' expectations, but a shift in calendar days will mean fewer pre-Christmas shopping days in December.

Sharper Image (Nasdaq: SHRP) results beat expectations, but same-store sales fell in November continuing a year-long trend.

Family Dollar Stores (NYSE: FDO) lowered its earnings outlook for 2008 due to a decline in spending among lower-income consumers.

In the broad market, advancing issues outpaced decliners by a margin of 2 to 1 on both the NYSE and Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 773.

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This page contains a single entry by published on December 6, 2007 7:00 AM.

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