Market Update Close: Breaching the tight range within which they had been confined throughout most of the session, each of the indices headed into the weekend with modest gains. While the Nasdaq clung to such all day, the Dow and S&P spent almost the entire session in the red. While a lower than anticipated 56K rise in October non-farm payrolls (consensus +100K) did not initially stir selling, digestion of the somewhat disappointing data injected a bearish air that left the market on the defensive. Although wage costs are still not of considerable inflationary concern and productivity gains are...
Relaxing Rhythms Music affects your heart rate and breathing, so tune in to relaxation by choosing your mood music carefully.
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General Health Tip
Stop Emotional Eating. It's not always calories, fat or any other diet factor that causes people to become overweight. For many people, the trigger to overeating is stress, and the answer is mastering relaxation techniques.
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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!
Thousands protest Bush in Argentina U.S. President George W. Bush (C), U.S. Secretary of State Condoleezza Rice (L) and National Security Adviser Stephen Hadley (R) listen to Venezuela's President Hugo Chavez at the first plenary session of the Summit of the Americas in Mar del Plata, Argentina, November 4, 2005. (Larry Downing/Reuters)
1:35 pm PT Multi-Fineline beats by $0.05, beats on revs; provides DecQ outlook (MFLX) 29.19 +0.91:Co reports Q4 (Sep) earnings of $0.44 per share, $0.05 better than the $0.39 consensus; revenues rose 55% y/y to $110.9 mln vs the $100.5 mln consensus. "Sales to the company's largest customer during the fourth quarter of fiscal 2005 increased 73 percent over the fourth quarter of 2004, while sales to all other customers declined slightly when compared to the fourth quarter of 2004. This was due in part to unusually strong sales to customers other than the company's largest customer in this same period in 2004. In addition, during the fourth quarter of 2005, M-Flex was in transition with the programs of its second largest handset maker as one program reached end-of-life and three others will ramp up in subsequent quarters. It is our expectation that this handset customer is on track to be nearly ten percent of our total revenues by mid-year of fiscal 2006". Co expects DecQ revenues in the range of $117-125 mln vs the $109 mln consensus.
1:01 pm PT Watts Water Technologies Announces Agreement to Acquire Changsha Valve Works (WTS) 28.13 +0.32:Co announces the signing of a definitive agreement to acquire the assets and business of Changsha Valve Works located in Changsha, China. Changsha Valve Works is a leading manufacturer of large diameter hydraulic actuated butterfly valves for thermo-power and hydro-power plants, water distribution projects and water works projects in China. This acquisition strengthens Watts' position in the fast-growing water market. Changsha Valve Works has annual revs of approx $8 mln.
12:59 pm PT Afternoon Wrap: Impressive performance this week :A relatively quiet/mixed finish to a very impressive week. After spending most of Oct within a choppy, albeit positive range, the averages staged a breakout this week. From the intraday low of the week to the high the Nasdaq 100 paced the way with a gain of 4.7% (edges just above its Aug peak to set a new 10 month intraday high today). The Russell 2000 rallied +4.4%, S&P 400 Mid-Cap +4.3%, Nasdaq Comp +3.7%, S&P 500 +2.1% while the lagged with a run of Dow +1.6%. On the day we have modest losses in small- and mid-cap while the rest of the indices are at steady to slightly higher levels. Sector leadership has been provided by Casino +1.7%, Restaurant +1.4%, Biotech +0.7%, Retail +0.6%, Telecom +0.6%, Drug +0.6%, Healthcare +0.6%. Energy (Oil Service -2.9%, Oil -2.7%, Natural Gas -2.7%, Coal -2.2%) and Steel -1.1% were the weakest groups. comp c
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