Market Update Close: Spending the day within a narrow trading range that kept the indices surrounding the flat line, the market's majors were troubled by unexpected drawdowns in crude and gasoline supply and stunted by a pair of Dow components. Although the market opened on the upside and was seemingly unfazed by a slight uptick in core CPI, American Express' (AXP 5.09 -0.84) assertion that Wall Street's expectation for 25% earnings growth in Q4 is "far too high" catalyzed a bearish air that General Motors' (GM 21.28 -1.33) 18-year low exacerbated. AXP's announcement perhaps provided investors...
C the Benefits Get your fill of vitamin C, especially when the temperature starts to dip.
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General Health Tip
In Praise of Avocados. If you like avocados but avoid them because they're "fattening," take heart. Avocados' fat isn't the artery-clogging kind. Put 2-3 thin slices on salads and sandwiches to add flavor, and give your heart a healthy dose of monounsaturated fat and vitamin E.
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JESSICA'S DIVA DEMANDS
Jessica Simpson, 25, likes to act clueless, but she can swing her celebrity weight like a pro. According to a studio source, weeks before the press tour for The Dukes of Hazzard began, "we were bombarded with a six-page pamphlet of demands for Jessica from the office of her dad, Joe Simpson." Among Jessica's requests: paid accommodations for her hairstylist and assistant in the same hotel as Jessica; a wardrobe budget estimated in the thousands of dollars; cases of Evian water; and paid private... •JEN FREAKS OVER ANGELINA'S NEW BABY •JULIA STILES, GWYNETH PALTROW AND MORE!
Cheney calls war critics 'dishonest, reprehensible' US Vice President Dick Cheney attacks critics of the Iraq war during a speech to the Frontiers of Freedom Institute 2005 Ronald Reagan Gala in Washington, D.C., November 16, 2005. (Joshua Roberts/Reuters)
9:35 pm PT On The Wires :National Financial Partners (NFP) announces that its board declared a Q4 dividend of $0.15 per share, an increase of 25%... Transaction Network Services(TNS) announces that the Anglia Society, the UK's sixth largest co-operative society, has selected an IP-based solution from TNS to reduce the time it takes to authorize credit card transactions... Progressive Gaming Int'l (PGIC) announces that it will no longer pursue a patent infringement suit against Paltronics... Foot Locker (FL) increases quarterly dividend 20% to $0.09... A. O. Smith (AOS) announces that Terry M. Murphy will join the co as senior vice president and chief financial officer effective January 1, 2006... Sun Life Financial (SLF) announces the filing of a prospectus supplement for an offering in Canada of up to $600 mln principal amount of series A senior unsecured debentures... HCC Insurance Holdings (HCC) advised that anticipated gross claims from Hurricane Wilma are estimated at $30 mln arising from aviation, property and other specialty lines of business. The net loss after reinsurance and including reinsurance reinstatement costs is estimated at $13.0 mln after tax which will reduce Q4 earnings of the by approx $0.12 per diluted share... Overland Storage (OVRL) announces it has been selected by a new tier one OEM customer to supply it with the co's tape library... Enbridge Energy Partners(EEP) announces the pricing of a public offering of 3.0 mln of its Class A Common Units at a public offering price of $46.00 per unit.
9:19 pm PT FDA advisory committee recommends additional study data to support approval of Certican in heart transplant recipients (NVS) 53.40 :Co announces the FDA recommended that more data be provided to substantiate the efficacy and safety of Certican for use as prophylaxis against acute rejection in heart transplant recipients. A majority of the Committee members agreed with the FDA and Novartis that Certican has demonstrated superior efficacy to a comparator in the prevention of acute rejection. Several members of the Committee also recognized the potential benefits Certican has demonstrated on the progression of cardiac allograft vasculopathy. However, the majority suggested that more prospective data on the Certican/cyclosporine combination regimen was needed to determine the optimal dosage regimen in order to further enhance renal safety.
9:12 pm PT Playtex Products sells non-core brands to Cenuco (PYX) 13.00 :Co announces that it has sold its non-core brand assets including Baby Magic, Mr. Bubble, Ogilvie, Binaca, Dorothy Gray, Dentax, Tek, Tussy, Chubs, and Better Off. The brands were sold to Cenuco (ICU), parent co of Lander, a health and beauty care products co. The purchase price is $57 mln in cash. Playtex anticipates that the divestiture of these brands will lower projected sales for 2005 by approximately $6 million, and by approximately $53 million on a fully annualized basis. Additionally, Playtex expects the transaction to be dilutive to the co's net earnings by less than $0.01 per share for Q405.
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