VIX 18.08 Put/Call 0.77
Dow 9,958.43
Nas 1,922.98
Oil Service was the highest sector. News that Apache (APA:NYSE) and ExxonMobil (XOM:NYSE) are in a drilling compact should boost drilling stocks. Looks like it could mean up to 20 more rigs put to work over the next year in various onshore and offshore plays. Could be good for drillers like Nabors (NBR:Amex), Patterson (PTEN:Nasdaq), Rowan (RDC:NYSE), Ensco (ESV:NYSE), etc. That has the OSX trading higher as well this morning.
I was reading WSJ said oil capacity at 96-98%.
Drugs lowest sector.
Abbott is scheduled to appear Tuesday before a meeting convened by the National Institutes of Health to discuss a petition by a non-profit group, Essential Innovations, which says Abbott has raised the price of the drug Norvir beyond the reach of many consumers. The group wants the federal government to implement a never-used provision of a 1980 law that would allow the NIH to license to a generic producer the right to make the drug, even though Abbott's Norvir patent is still in force. The law covers companies that have received government aid for their research.
This is a story to watch. If successful, the sector would drop in earnings and genericsmakers would benefit.
BAC Bank of America announces resignation of president Eugene McQuade (81.54 +0.07) Co announces that president Eugene McQuade has announced his intention to resign from the co and the board of directors, effective June 30.
Interesting. Not a retirement.
Altria dumps nearly 9 percent, others slump on two separate legal setbacks.
Here I thought that tobacco settlement was going to solve these lawsuits.
Coca-Cola Co. on Monday unveiled C2, a soft drink with less than half the calories and carbohydrates of the original Coke and an ad campaign pitched at followers of trendy Atkins-style diets.
I like Michelob Ultra. Coke should get a quick boost if it tastes good.
If this market is like 1994, I don't see it. We had 7 rate increases then in the Fed attempt to head off inflation.
Jack |
