Muskogee Phoenix
Thursday, June 3, 2010
DAILY DOW JONES 10,560
Close: 10,249.54 Change: 225.52 (2.2%)
10 DAYS
10,140 9,720
11,600 11,200 10,800 10,400 10,000 9,600
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STOCK EXCHANGE HIGHLIGHTS NYSE
AMEX
GAINERS ($2 OR MORE)
NASDAQ
GAINERS ($2 OR MORE)
GAINERS ($2 OR MORE)
Name
Last Chg %Chg
Name
Last Chg %Chg
Name
Last Chg %Chg
Gerdau g USEC BrasT C n Resolute wt DirxEnBull McMoRn Generac n Hallibrtn CobaltIEn n PlainsEx
11.07 5.79 9.84 2.54 29.05 10.65 11.93 23.68 7.28 21.50
GlblScape AmO&G CCA Inds PyramidOil PionDrill NthnO&G ChinaPhH n GenMoly GranTrra g Metalico
2.08 +.33 +18.9 6.67 +.67 +11.2 5.90 +.50 +9.3 4.41 +.36 +8.9 5.94 +.46 +8.4 14.42 +1.07 +8.0 2.92 +.19 +7.0 3.65 +.24 +7.0 5.34 +.34 +6.8 4.92 +.30 +6.5
Jingwei DivX Encorm rsh JksvlBcFl IsleCapri KandiTech Calavo Broadwind Cyclacel pf Isramco
6.93 8.79 3.45 11.25 10.81 3.91 18.20 2.56 4.40 51.44
+3.90 +.72 +1.20 +.31 +3.26 +1.17 +1.28 +2.53 +.76 +2.16
+54.4 +14.2 +13.9 +13.9 +12.6 +12.3 +12.0 +12.0 +11.7 +11.2
LOSERS ($2 OR MORE)
LOSERS ($2 OR MORE)
Name
Last Chg %Chg
Name
DirxEnBear Chemspec n DrxSOXBr DirEMBr rs GpoRadio DirLatBear DirMCB3x rs PrUPShR2K DirxSCBear AmbacF pfZ
11.85 7.12 32.50 47.68 6.87 42.63 18.62 50.13 6.85 11.73
Versar 3.51 CAMAC n 4.06 Arrhythm 5.19 Barnwell 3.23 SDgo pfA 18.98 Lannett 4.54 PernixTh 3.64 Richmnt g 4.81 CorMedix n 2.60 AlldDefen 2.89
-1.69 -.88 -3.88 -5.52 -.76 -4.21 -1.76 -4.70 -.64 -1.07
-12.5 -11.0 -10.7 -10.4 -10.0 -9.0 -8.6 -8.6 -8.5 -8.4
Last Chg %Chg -.34 -.37 -.32 -.20 -.97 -.22 -.16 -.21 -.11 -.11
-8.8 -8.4 -5.8 -5.8 -4.9 -4.6 -4.2 -4.2 -4.1 -3.7
+2.28 +1.84 +.56 +1.80 +1.52 +.54 +2.45 +.34 +.58 +6.39
Section A, Page 7
For new AT&T users, no more ‘all you can eat’ data
THE MARKET IN REVIEW Dow Jones industrials
Business
+49.0 +26.5 +19.4 +19.0 +16.4 +16.1 +15.6 +15.3 +15.2 +14.2
LOSERS ($2 OR MORE) Name
Last Chg %Chg
ZionO&G wt DJSP un Elecsys CdnSolar SptChalB Amriana CdrsVlly P&F RurbanFn InfoLgx rsh
2.80 -.96 -25.4 8.50 -2.50 -22.7 3.21 -.74 -18.7 10.17 -1.69 -14.2 2.53 -.37 -12.8 4.02 -.58 -12.6 7.35 -.81 -9.9 2.08 -.23 -9.8 5.01 -.54 -9.7 4.59 -.49 -9.6
NEW YORK (AP) — Just in time for the release of a new iPhone, AT&T will stop letting new customers sign up for its unlimited Internet data plan for smart phones and iPads and charge more for users who hog the most bandwidth. AT&T hopes to ease congestion on its network, which has drawn complaints, particularly in big cities. But the approach could confuse customers unfamiliar with how much data it takes to watch a YouTube video or fire up a favorite app. Current subscribers will be able to keep their $30per-month unlimited plans, even if they renew their contracts. But starting Monday, new customers will have to choose one of two new data plans for all smart phones, including iPhones and BlackBerrys. Subscribers who use lit-
tle data — like those who may get dozens of e-mails a day but don’t watch much video — will pay slightly less every month than they do now, while heavy users will be dinged with higher bills. The move takes effect in time for the expected unveiling of Apple’s new iPhone next week. Analysts said they expect other phone companies to follow. With no caps on consumption, data use could swamp wireless networks while revenue for the operators remains flat. Verizon Wireless, the largest wireless carrier and AT&T’s chief rival, had no immediate comment on AT&T’s move. There has been much speculation about Verizon getting to sell its own version of the iPhone, but that prospect still appears distant. One of the new AT&T plans will cost $25 per
month and offer two gigabytes of data per month, which AT&T says will be enough for 98 percent of its smart phone customers. Additional gigabytes will cost $10 each. A second plan will cost $15 per month for 200 megabytes of data, which AT&T says is enough for 65 percent of its smart phone customers. If they go over, they’ll pay another $15 for 200 more megabytes. A gigabyte is enough for hundreds of e-mails and Web pages, but it’s quickly eaten up by Internet video and videoconferencing. The 200 megabytes offered under the $15 plan is enough for more than 1,000 e-mails, hundreds of Web pages and about 20 minutes of streaming video, AT&T says. With the smaller plan and voice service, a smart phone could cost as little as $55 per month before
taxes and add-on fees, down from $70 now. Ralph de la Vega, head of AT&T’s consumer business, said smart phones would become accessible to more people. “Customers are getting a good deal, and if they can understand their usage, they can save some money,” de la Vega said in an interview. Figuring out which plan to choose may not be easy, because many people have only a hazy notion of the size of a gigabyte and how many they use now. By contrast, a minute spent talking on the phone is easy to understand, and many people have learned roughly how many minutes they use every month. The limits will apply only on AT&T’s cellular networks. Data usage over Wi-Fi networks, including AT&T’s public Wi-Fi “hot spots,” will not count toward the limits.
Buffett defends rating agencies for missing crisis
MOST ACTIVE ($1 OR MORE) MOST ACTIVE ($1 OR MORE) MOST ACTIVE ($1 OR MORE) Name
Vol (00) Last Chg
Name
Citigrp S&P500ETF BkofAm iShEMkts BP PLC FordM SPDR Fncl SprintNex GenElec DirFBear rs
5252459 1883104 1222234 990325 867636 851808 766990 682604 610477 600847
JavelinPh NwGold g GoldStr g NovaGld g LibertyAcq KodiakO g Taseko RadientPh GranTrra g GrtBasG g
3.92 110.33 15.89 38.71 37.66 11.85 14.82 4.99 16.35 14.60
+.07 +2.80 +.46 +1.31 +1.14 +.44 +.45 +.23 +.37 -1.32
Vol (00) Last Chg 26873 23327 21143 20533 19135 18588 17665 17612 16917 16779
1.52 6.41 4.18 7.21 9.87 3.27 5.19 1.31 5.34 1.76
-.08 +.12 ... +.19 -.03 +.19 +.18 +.01 +.34 +.09
Name
Vol (00) Last Chg
SiriusXM PwShs QQQ Microsoft Intel Cisco MicronT Tellabs Dell Inc Oracle Amgen
755617 699027 627320 597278 444762 423579 317672 289460 277392 244905
1.00 -.01 46.25 +1.07 26.46 +.57 21.81 +.63 23.35 +.35 9.18 +.52 8.06 -.17 13.12 +.03 22.64 +.44 56.09 +5.33
STOCKS OF LOCAL INTEREST YTD Div Yld PE Last Chg %chg
Name
Ex
AMR AT&T Inc AlcatelLuc Allstate Altria AEP AutoZone AvisBudg BP PLC BkofAm BlockHR Chevron Cisco Citigrp CocaCl ConocPhil CooperTire Corning Dell Inc Dillards DirFBear rs DrxFBull s DirxSCBear Dover ExxonMbl FordM FortuneBr Gannett GenElec GerberSci Gerdau g Goodrich Goodyear Hallibrtn HewlettP HonwllIntl iShChina25 iShEMkts iShR2K IDEX Intel IBM JPMorgCh KimbClk LVSands Level3
NY ... NY 1.68 NY ... NY .80 NY 1.40 NY 1.68 NY ... NY ... NY 3.36 NY .04 NY .60 NY 2.88 Nasd ... NY ... NY 1.76 NY 2.20 NY .42 NY .20 Nasd ... NY .16 NY ... NY .15 NY ... NY 1.04 NY 1.76 NY ... NY .76 NY .16 NY .40 NY ... NY ... NY 1.08 NY ... NY .36 NY .32 NY 1.21 NY .55 NY .58 NY .75 NY .60 Nasd .63 NY 2.60 NY .20 NY 2.64 NY ... Nasd ...
... 6.8 ... 2.6 6.9 5.3 ... ... 8.9 .3 3.7 3.9 ... ... 3.4 4.2 2.2 1.2 ... .6 ... .6 ... 2.3 2.9 ... 1.6 1.1 2.4 ... ... 1.6 ... 1.5 .7 2.8 1.4 1.5 1.1 1.9 2.9 2.0 .5 4.3 ... ...
... 11 ... 13 10 11 14 82 8 76 10 11 20 98 18 11 13 9 16 18 ... ... ... 20 14 6 24 7 17 ... ... 16 ... 22 13 15 ... ... ... 19 20 12 15 13 ... ...
8.20 24.78 2.60 30.22 20.38 31.85 192.65 11.49 37.66 15.89 16.14 74.13 23.35 3.92 52.41 52.49 19.11 16.83 13.12 27.29 14.60 24.42 6.85 45.16 60.77 11.85 48.16 14.80 16.35 5.95 11.07 68.97 11.84 23.68 47.27 42.93 39.53 38.71 66.07 30.78 21.81 127.41 39.55 61.10 24.25 1.28
+.63 +.45 +.07 +.56 +.26 +.65 +1.19 +.25 +1.14 +.46 +.31 +1.84 +.35 +.07 +1.12 +2.16 +.83 +.43 +.03 -.20 -1.32 +1.82 -.64 +1.44 +1.52 +.44 +1.47 +.30 +.37 +.06 +3.90 +1.60 +.44 +2.53 +1.69 +1.03 +1.05 +1.31 +1.83 +.90 +.63 +3.07 +1.01 +.64 +1.23 +.02
+6.1 -11.6 -21.7 +.6 +3.8 -8.5 +21.9 -12.4 -35.0 +5.5 -28.6 -3.7 -2.5 +18.4 -8.1 +2.8 -4.7 -12.8 -8.6 +47.9 -24.9 -1.2 -30.5 +8.5 -10.9 +18.5 +11.5 -.3 +8.1 +17.8 +34.2 +7.3 -16.0 -21.3 -8.2 +9.5 -6.5 -6.7 +5.8 -1.2 +6.9 -2.7 -5.0 -4.1 +62.3 -16.3
YTD Div Yld PE Last Chg %chg
Name
Ex
LaPac Lowes McDnlds MicronT Microsoft Mohawk NOilVarco NokiaCp OGE Engy OcciPet ONEOK Oracle OwensIll ParkDrl Penney PepsiCo Pfizer PhilipMor PwShs QQQ PrUShS&P Prudentl RadioShk Ryder S&P500ETF SearsHldgs SiriusXM SprintNex StageStrs SPDR Fncl StarwdHtl Tellabs TenetHlth Tenneco TerraNitro ThermoFis Transocn UBS AG UnionPac US NGsFd WalMart WellsFargo WendyArby Weyerh WmsCos
NY ... NY .44 NY 2.20 Nasd ... Nasd .52 NY ... NY .40 NY .56 NY 1.45 NY 1.52 NY 1.76 Nasd .20 NY ... NY ... NY .80 NY 1.92 NY .72 NY 2.32 Nasd .21 NY ... NY .70 NY .25 NY 1.00 NY 2.21 Nasd ... Nasd ... NY ... NY .20 NY .20 NY .20 Nasd .08 NY ... NY ... NY 5.10 NY ... NY ... NY ... NY 1.32 NY ... NY 1.21 NY .20 NY .06 NY .20 NY .50
... 1.8 3.2 ... 2.0 ... 1.1 5.5 4.0 1.9 3.9 .9 ... ... 2.9 3.0 4.7 5.1 .5 ... 1.2 1.1 2.2 2.0 ... ... ... 1.4 1.3 .4 1.0 ... ... 7.5 ... ... ... 1.8 ... 2.3 .7 1.3 .5 2.6
... 20 16 57 14 29 10 ... 13 18 15 20 9 ... 23 16 9 14 ... ... 10 13 36 ... 42 ... ... 17 ... 41 21 30 ... 12 23 5 ... 18 ... 14 12 27 ... 31
8.17 24.43 67.77 9.18 26.46 55.20 35.36 10.15 36.53 81.85 44.76 22.64 30.39 4.39 27.14 63.46 15.20 45.05 46.25 33.70 58.95 21.82 44.50 110.33 84.36 1.00 4.99 13.80 14.82 45.63 8.06 5.09 23.12 67.66 51.92 48.35 13.40 72.58 7.55 51.72 29.18 4.51 42.45 19.49
+.37 +.14 +1.41 +.52 +.57 +1.32 +1.46 +.13 +.96 +1.78 +1.93 +.44 +1.55 +.15 +.57 +1.18 +.21 +1.08 +1.07 -1.84 +2.23 +.81 +1.03 +2.80 +1.34 -.01 +.23 +.49 +.45 +.39 -.17 +.37 +1.48 -1.29 +.98 -1.69 +.40 +2.27 +.35 +.80 +.95 +.07 +1.09 +.60
+17.0 +4.4 +8.5 -13.1 -13.2 +16.0 -19.8 -21.0 -1.0 +.6 +.4 -7.7 -7.5 -11.3 +2.0 +4.4 -16.4 -6.5 +1.1 -3.9 +18.5 +11.9 +8.1 -1.0 +1.1 +66.7 +36.3 +11.7 +2.9 +24.8 +41.9 -5.6 +30.4 -35.0 +8.9 -41.6 -13.6 +13.6 -25.1 -3.2 +8.1 -3.8 -1.6 -7.5
AGRICULTURE FUTURES Open
High
Low
Settle Chg
CORN 5,000 bu minimum- cents per bushel Jul 10 Sep 10 Dec 10 Mar 11 May 11 Jul 11 Sep 11
349.25 360.50 370 385 394 402.25 402.50
357.50 367.75 378.50 391.25 399.75 408.25 405
347.75 357.75 369 382 392.25 399.75 400
348.50 358.75 369.75 383.25 392.25 400.75 400.25
-5.50 -5.25 -5.50 -5 -4.75 -4.50 -3
SOYBEANS 5,000 bu minimum- cents per bushel Jul 10 Aug 10 Sep 10 Nov 10 Jan 11 Mar 11 May 11
933 921.25 909.50 904 912.75 922.50 927.25
936.75 925.50 913.50 908 917.75 926.25 932
930.50 918.50 906.75 901 911 920.25 926.25
932.50 920.25 909 903.50 913.50 922.25 927.75
+.50 -.50 +.50 +.75 +1 +1 +1
WHEAT 5,000 bu minimum- cents per bushel Jul 10 Sep 10 Dec 10 Mar 11 May 11 Jul 11 Sep 11
442 463.75 494.25 524.50 542.25 560.25 577.50
454.50 471.75 502.25 531.25 545.75 566.50 581
442 459.75 491.25 521.75 540 558.50 576.25
442.50 460.25 491.50 522 540.25 560.25 577.50
-8.25 -8 -7.25 -6.25 -5.50 -2 -1.75
CATTLE 40,000 lbs.- cents per lb.
Jun 10 Aug 10 Oct 10 Dec 10 Feb 11 Apr 11 Jun 11
Open
High
Low
Settle Chg
91.97 90.77 92.12 93.50 94.40 95.52 92.25
92.20 90.97 92.40 93.67 94.90 96.12 92.95
90.65 89.47 90.95 92.35 94.40 95.52 92.25
92.05 90.75 92.12 93.50 94.82 96.07 92.95
+1.25 +1.13 +.97 +.80 +.72 +.85 +.70
80.82 82.00 82.70 75.25 72.30 72.70
81.32 82.17 83.02 75.60 72.60 72.87
-.08 -.58 -.63 -.27 -.20 -.23
HOGS-Lean 40,000 lbs.- cents per lb. Jun 10 Jul 10 Aug 10 Oct 10 Dec 10 Feb 11
81.72 82.90 83.55 75.95 72.40 72.70
81.80 83.00 83.62 76.17 72.95 73.05
MONEY RATES Prime Rate Discount Rate Federal Funds Rate Treasuries 3-month 6-month 5-year 10-year 30-year
Last
Pvs Week
3.25 0.75 .00-.25
3.25 0.75 .00-.25
0.15 0.22 2.12 3.33 4.24
0.17 0.23 2.05 3.21 4.11
Tables show seven most current contracts for each future. Grains traded on Chicago Board of Trade; livestock on Chicago Mercantile Exchange; and cotton on New York Cotton Exchange.
MUTUAL FUNDS Name
Obj
PIMCO TotRetIs American Funds GrthAmA m Vanguard TotStIdx American Funds CapIncBuA m American Funds CpWldGrIA m Fidelity Contra American Funds IncAmerA m American Funds InvCoAmA m Vanguard 500Inv Vanguard InstIdxI American Funds EurPacGrA m American Funds WAMutInvA m Dodge & Cox Stock Dodge & Cox IntlStk American Funds NewPerspA m PIMCO TotRetAdm b
CI LG LB IH WS LG MA LB LB LB FB LV LV FV WS CI
Total Assets ($Mlns) NAV 128,736 67,975 61,334 57,634 55,402 54,199 50,350 49,825 46,774 45,318 39,521 39,349 39,123 34,147 32,886 32,666
11.09 26.55 27.42 45.18 30.74 57.96 15.06 24.83 101.52 100.86 34.69 23.93 94.73 29.31 24.08 11.09
Total Return/Rank 4-wk 12-mo 5-year -0.1 -7.4 -7.4 -5.7 -9.1 -5.4 -5.5 -7.8 -7.2 -7.2 -8.8 -7.4 -8.4 -10.2 -7.7 -0.1
+12.2/C +13.5/E +20.4/A +9.2/D +8.3/D +19.3/B +17.0/A +13.1/E +18.6/B +18.8/B +7.1/B +15.1/D +20.4/A +12.1/A +13.1/B +11.9/C
+7.1/A +2.0/B +1.0/B +2.8/C +4.0/B +4.1/A +2.5/B +0.9/B +0.2/C +0.3/C +5.5/A -0.3/C -1.1/D +3.6/A +4.8/A +6.8/A
Pct Min Init Load Invt NL1,000,000 5.75 250 NL 3,000 5.75 250 5.75 250 NL 2,500 5.75 250 5.75 250 NL 3,000 NL5,000,000 5.75 250 5.75 250 NL 2,500 NL 2,500 5.75 250 NL1,000,000
CA -Conservative Allocation, CI -Intermediate-Term Bond, ES -Europe Stock, FB -Foreign Large Blend, FG -Foreign LargeGrowth, FV -Foreign Large Value, IH -World Allocation, LB -Large Blend, LG -Large Growth, LV -Large Value, MA -Moderate Allocation, MB -Mid-Cap Blend, MV - Mid-Cap Value, SH -Specialty-heath, WS -World Stock, Total Return: Chng in NAV with dividends reinvested. Rank: How fund performed vs. others with same objective: A is in top 20%, E in bottom 20%. Min Init Invt: Minimum $ needed to invest in fund. Source: Morningstar. Stock Footnotes: g = Dividends and earnings in Canadian dollars. h = Does not meet continued-listing standards. lf = Late filing with SEC. n = New in past 52 weeks. pf = Preferred. rs = Stock has undergone a reverse stock split of at least 50 percent within the past year. rt = Right to buy security at a specified price. s = Stock has split by at least 20 percent within the last year. un = Units. vj = In bankruptcy or receivership. wd = When distributed. wi = When issued. wt = Warrants. Mutual Fund Footnotes: b = Fee covering market costs is paid from fund assets. d = Deferred sales charge, or redemption fee. f = front load (sales charges). m = Multiple fees are charged. NA = not available. p = previous day’s net asset value. s = fund split shares during the week. x = fund paid a distribution during the week.Gainers and Losers must be worth at least $2 to be listed in tables at left. Most Actives must be worth at least $1. Volume in hundreds of shares. Source: The Associated Press. Sales figures are unofficial.
NEW YORK (AP) — Billionaire investor Warren Buffett on Wednesday defended credit rating agencies that gave overly positive grades to mortgage-related investments before the housing bust. He said the agencies were among many who missed warnings signs of the crisis. “They made the wrong call,” Buffett acknowledged. But he said he counted himself among those who failed to foresee the collapse of the housing bubble. Buffett called it the “greatest bubble” he had ever seen. “The entire American public was caught up in a belief that housing prices could not fall dramatically,” Buffett told a congressionally chartered panel investigating the financial crisis. Had he known how bad it would get, Buffett said he would have sold his company’s stake in rating agency Moody’s Corp. Buffett’s investment firm is Moody’s largest shareholder. He testified before the Financial Crisis Inquiry Commission alongside Moody’s CEO Raymond McDaniel. The FCIC is a bipartisan group created by Congress to examine a range of issues surrounding the financial crisis.
Rating agencies have been criticized for giving high ratings to complex investments backed by risky mortgages. When homeowners defaulted, the agencies downgraded billions of dollars of investments at once. That helped spark the financial crisis. Lawmakers have accused the industry of having a conflict of interest because the agencies are paid by the banks whose investments they rate. Congress is considering new rules for the industry as part of the broader financial regulatory overhaul. Rep. Barney Frank’s, DMass., legislation would get rid of laws and regulations that require busi-
nesses to obtain credit ratings. His proposal would make many business transactions less reliant on rating agencies’ involvement. In addition, it would force credit raters to register with the Securities and Exchange Commission and allow investors to sue them for assigning recklessly high ratings. Sen. Al Franken, DMinn., wants to let a new regulatory board choose the rating agencies that analyze each bank deal. His proposal was included in the Senate bill. House and Senate negotiators still must reconcile differences between the two financial overhauls. McDaniel told the panel
that “Moody’s is certainly not satisfied with the performance of these ratings” and is taking steps to improve its rating process. Still, McDaniel said in written testimony that investors should use ratings as a tool, “not a buy, sell or hold recommendation.” Despite his company’s stake in Moody’s, Buffett said he doesn’t rely on credit ratings when making investment decisions. He makes his own judgments on companies. “What we hope for is mis-rated securities because that would give us a chance to make a profit if we disagree with the ratings agencies,” Buffett told the panel.
SandRidge increases offer for Arena OKLAHOMA CITY (AP) — SandRidge Energy Inc. says it is increasing its offer to buy Tulsa-based Arena Resources Inc. The companies announced the new offer on Wednesday. Oklahoma City-based SandRidge now says it will boost its cash offer for Arena shares to $4.50 each, along with about 4.8 shares of SandRidge common stock. The original $1.6 billion deal, announced in April, included an offer of $2.50 per share. Under the new deal, Arena can solicit other offers until July 1. If Arena accepts another proposal, the termination fee for its deal with SandRidge will be reduced from $50 million to $39 million. Tim Rochford, Arena’s chairman and co-founder, says the amended agreement should allow Arena shareholders “to receive maximum consideration for their shares.” SandRidge Chairman and CEO Tom Ward also expressed optimism about the amended proposal. Stockholders must approve the deal at July 16 meetings. 51704