CHICAGO TRIBUNE Ô BUSINESS Ô SECTION 3 Ô WEDNESDAY, NOVEMBER 14, 2007 9 YOUR MONEY CALL TELLME NETWORKS AT 800-555-TELL (8355) for updated stock quotes. Say “stocks” when GO TO chicagotribune.com/stocks for comprehensive stock data—including prompted, then say your stock’s name or type the ticker symbol using your phone’s keypad. historical trends, earnings, rating of management effectiveness and latest news. S U B P R I M E FA L LO U T Tuesday’s market roundup Market watch Market movers T-bill rates’ INDEX CHANGE/ CLOSE +319.54 DJIA 13,307.09 +89.52 NASDAQ 2673.65 +41.87 S&P 500 1481.05 Apple Daily closes $200 drop signals 13,400 2700 1480 Mon. close: Mon. close: Mon. close: TUESDAY’S 13,300 12,987.55 2670 2584.13 1470 1439.18 175 INTRADAY $18.33 (5-minute 13,200 2640 1460 8.5% credit fears 150 intervals) 13,100 2610 1450 Shares of 13,000 2580 1440 Tuesday: $169.96 Goldman 125 Sachs Group By William Sluis Tribune staff reporter 12900 2550 1430 Inc. climbed to 9 10 11 N 1 2 3 9 10 11 N 1 2 3 9 10 11 N 1 2 3 100“S” SEPT. “O” OCT. “N” NOV. $233.04. The While Wall Street was hailing huge gains HIGH • LOW 13,319.45 • 12,975.11 2673.65 • 2613.37 1481.37 • 1441.35 nation’s biggest 2007 Tuesday, with the Dow Jones industrial aver- securities firm Source: Bloomberg Chicago Tribune age soaring nearly 320 points, a glum group by market stood to the side, worrying about dangers in 3-month trends SINCE value doesn’t plan to take the credit markets. As stocks recovered from four days of AUG. 13 DJIA Nasdaq S&P 500 AUG. 13: DJIA: Apple stock jumps any significant losses, interest rates for short-term Treasury 12 % write-downs on debt fell to the lowest levels since August, 8 +0.53% on talks with China mortgage- when global markets were roiled by worries of Nasdaq: related assets, a credit crunch. The rate for six-month Treas- 4 +5.17% Shares of Apple Inc. rose its CEO said. ury debt fell to the lowest level in more than the most in more than a year two years. 0 S&P 500: Tuesday after China Mobile Analysts said such low rates, far beneath +1.94% Ltd., the world’s biggest wire- the targets set by the Federal Reserve, indi- -4 less operator, said it’s in talks cate credit worries remain and could mean to sell the iPhone. further rate cuts by the Fed. -8 Apple’s surge helped the 17 24 31 7 14 21 28 5 12 19 26 2 9 $1.45 “Despite the amazing rally in the stock mar- Nasdaq composite index post -12 AUG. SEPT. OCT. NOV. 40.8% ket, this indicates that there still is a lot of ner- its biggest gain in four years. vousness out there,” said Chicago investment The gauge jumped 89.52 points, Shares of manager William Hummer. or 3.5 percent, to 2673.65. E-Trade Fi- The problem stems from the inability to sell > > > Look for a listing of the 600 largest mutual funds in Saturday’s Business section Apple, rebounding after four nancial Corp. securities related to debts, especially those days of declines, added $16.20, jumped to tied to subprime mortgages, a situation that Most active stocks NYSE (N), Nasdaq (Q) gainers and losers or 10.5 percent, to $169.96, the $5.00. The could take months to resolve, said Hummer, of New York Stock Exchange NASDAQ stock market Top 20 gainers % Top 20 losers % most since July 2006. online bro- STOCK CLOSE CHG STOCK XCH CLOSE CHG STOCK XCH CLOSE CHG Wayne Hummer Investments. STOCK CLOSE CHG An agreement would give kerage, whose “These assets aren’t worthless, but they Citigrp C 35.90 +2.33 PwShs QQQQ 50.74 +2.01 ETrade ETFC Q 5.00 +40.8 AkeenaS n AKNS Q 5.50 -24.7 Apple access to a market with shares plunged still aren’t finding buyers, as investors freeze EMC Cp EMC 19.72 +0.89 ETrade ETFC 5.00 +1.45 ETrade un ETFCP Q 8.12 +35.3 PokerTek PTEK Q 6.18 -22.1 523 million subscribers, more 59 percent FordM F 8.00 +0.13 Microsoft MSFT 34.46 +1.19 Constar CNST Q 3.16 +31.1 QuebWrld IQW N 4.18 -19.8 than the combined population Monday, is out certain elements of risk and seek the safe- GenElec GE 39.21 +0.96 SiriusS SIRI 3.63 +0.22 TriadGty TGIC Q 9.27 +30.0 CTI Inds CTIB Q 3.47 -19.2 ty of short-term Treasuries,” he said. “These BkofAm BAC 46.27 +2.29 Cisco CSCO 30.14 +1.03 of the European Union. “highly un- GigaMed GIGM Q 21.10 +28.4 PranaBio PRAN Q 2.15 -18.9 low rates are unhinged from other rates and WalMart WMT 45.97 +2.65 Intel INTC 26.14 +0.85 E-House n EJ N 27.44 +27.4 Encorium ENCO Q 2.17 -18.7 “It would be a big boost for likely” to de- serve as a barometer of global fear.” Pfizer PFE 23.55 +0.53 Apple Inc AAPL 169.96+16.20 Xerium XRM N 5.85 +23.2 FstBcMiss FBMS Q 17.90 -18.6 Apple to be in China,” said Tif- clare bank- In the face of intense credit worries, some JPMorgCh JPM 45.05 +2.66 Oracle ORCL 20.52 +1.08 Hill Intl wt HINTW Q 6.10 +22.5 IncrdMail MAIL Q 6.50 -16.7 fany Feng, an analyst with Gu- ruptcy and investors crowd into short-term Treasuries, HomeDp HD 29.12 +0.66 RschMot s RIMM 112.55 +9.95 Navios wt NM/WS N 11.16 +22.0 FoodTech VIFL Q 2.70 -15.9 otai Junan Securities Ltd. in would attract Mylan MYL 14.35 -0.68 Comcast s CMCSA 19.92 +0.98 Bidz.com n BIDZ Q 17.80 +21.9 FrankCred FCMC Q 2.50 -15.3 seeking refuge. CntwdFn CFC 13.72 +0.53 Yahoo YHOO 26.10 +1.32 Hong Kong. several poten- NashF NAFC Q 40.73 +21.5 Nastech NSTK Q 4.87 -15.2 ExxonMbl XOM 86.88 +2.34 AdobeSy ADBE 40.86 -1.33 Insight NSIT Q 21.10 +20.8 DynacqHlt DYII Q 4.63 -14.3 The iPhone could help China tial buyers ‘Deeper, darker, scarier’ CVRD s RIO 35.26 +2.41 Level3 LVLT 3.05 +0.16 Hill Intl un HINTU Q 23.21 +19.6 EDAP TMS EDAP Q 4.86 -13.2 Mobile lure higher-income under a worst- Unease over the credit crunch deepened on iShEmMkt EEM 155.35+10.25 RF MicD RFMD 6.30 +0.33 CleanDsl n CDTI Q 17.00 +19.3 GeoPharm GORX Q 3.15 -12.5 users, after the carrier added case scenario, Tuesday when BlackRock Inc. Chief Execu- MerrillLyn MER 56.95 +3.76 Dell Inc DELL 28.21 +1.04 EncoreEn n ENP N 20.00 +19.3 SmartBl un SMBLUQ 17.00 -12.3 record customers in Septem- BMO Capital tive Laurence Fink, who helped create the AT&T Inc T 39.85 +1.20 Qualcom QCOM 39.16 +1.87 AmbasIntl AMIE Q 17.67 +18.9 etrials un ETWCU Q 3.50 -11.8 ber by focusing on rural areas Markets said. WellsFargo WFC 33.89 +1.54 ApldMatl AMAT 18.61 +0.36 SilcLtd SILC Q 14.38 +18.9 IstaPh ISTA Q 5.59 -11.7 mortgage-backed securities market, said Corning GLW 23.54 +2.14 eBay EBAY 33.23 +0.34 and cutting prices. The carrier DianaShip DSX N 33.25 +18.6 AlliancB ABVA Q 7.45 -11.6 credit losses that have already cost banks and FannieMae FNM 49.20 +2.14 Nvidia s NVDA 32.68 +2.65 CashSys CKNN Q 5.50 +18.5 Channell CHNL Q 2.43 -11.6 already has an agreement to securities firms $45 billion will steepen. Wachovia WB 43.74 +3.11 BEA Sys lf BEAS 16.89 +0.31 PerfectW n PWRD Q 27.83 +18.5 BOE Fncl BSXT Q 24.10 -11.4 sell Research In Motion Ltd.’s “It’s going to get a lot worse,” Fink, 55, said BlackBerry handsets. in a presentation to investors in New York. “Our customers like this “Many institutions don’t understand what Of local interest 15 most widely held* Top 25 mutual funds YTD kind of fashionable product,” $0.87 the credit crunch is going to do to earnings 25 largest Illinois and northwest Indiana STOCK CLOSE CHG FUND NAV CHG. % RTN said China Mobile Chairman 11.4% and their balance sheet.” companies, arranged alphabetically and Wang Jianzhou, referring to ranked by market capitalization AT&T Inc T 39.85 +1.20 American Funds: GrowAmerA m 36.75 +0.86 +11.8 On Monday, Tony James, president of Black- STOCK CLOSE CHG AlcatelLuc ALU 8.34 +0.31 American Funds: CpWldGrIA m 48.73 +1.28 +18.4 the iPod. Orbitz World- stone Group, told the Financial Times, “the BkofAm BAC 46.27 +2.29 American Funds: CapIncBuA m 66.54 +1.26 +11.8 Jill Tan, an Apple spokes- wide Inc. stock mortgage black hole is, I think, worse than Abbott Laboratories ABT 55.11 +0.44 Cisco CSCO 30.14 +1.03 Fidelity: Contra 76.15 +2.10 +18.0 woman in Hong Kong, declined advanced to anyone saw. Deeper, darker, scarier.” Allstate ALL 54.66 +1.48 Citigrp C 35.90 +2.33 American Funds: InvCoAmA m 35.32 +0.79 +6.9 to comment. The company will $8.50. Late Aon AOC 47.40 +1.62 Disney DIS 33.01 +0.99 American Funds: WAMutInvA m 36.26 +0.90 +5.5 Because some debt securities products have begin selling the iPhone in Monday, the ArchDan ADM 37.37 +1.27 ExxonMbl XOM 86.88 +2.34 American Funds: IncAmerA m 20.78 +0.33 +5.4 been so numerous and complicated, “inves- Baxter Intl. BAX 58.21 +1.12 GenElec GE 39.21 +0.96 Dodge & Cox: Stock 153.20 +4.39 +1.7 Asia next year, she said. Chicago-based tors didn’t have a good understanding of what Boeing BA 93.70 +0.84 HewlettP HPQ 49.50 +1.96 Vanguard: 500 136.71 +3.91 +6.0 The iPod went on sale in the Internet travel they were investing in,” said Madelyn Anton- CME Grp CME 647.50 +14.70 Intel INTC 26.14 +0.85 American Funds: EurPacGrA m 55.95 +1.56 +20.2 U.S. in June. Last week, Apple agency posted cic, who does risk management at Lehman CNA Financial CNA 35.44 +1.20 IBM IBM 105.27 +3.82 PIMCO: TotRetIs 10.60 -0.02 +6.8 began selling the iPhone a 20 percent Brothers. Caterpillar CAT 71.07 +1.47 JohnJn JNJ 67.31 +1.00 Fidelity: DivrIntl 43.31 +0.83 +17.2 through partners in Britain increase in Deere DE 145.87 +4.03 Microsoft MSFT 34.46 +1.19 Dodge & Cox: IntlStk 49.01 +1.50 +12.3 Deutsche Bank AG said Monday that such Discover n DFS 19.00 +0.99 Pfizer PFE 23.55 +0.53 American Funds: NewPerspA m 37.25 +0.97 +17.4 and Germany. The device goes third-quarter losses may reach $400 billion as Wall Street’s R.R. Donnelley RRD 38.77 -0.34 ProctGam PG 71.57 +0.80 Vanguard: TotStIdx 35.79 +0.99 +6.2 on sale in France this month. revenue. largest banks and brokers write down $130 bil- Equity Residential EQR 39.35 +1.67 Vanguard: InstIdx 135.69 +3.89 +6.1 “China Mobile wants to sell lion. Lehman Brothers Holdings Inc. last Exelon EXC 79.23 +0.52 Treasury yields Fidelity: Magellan 99.61 +3.06 +17.6 the iPhone and BlackBerry Fortune Brands FO 81.00 +1.34 DURATION YEST. PREV. American Funds: FundmInvA m 44.75 +1.08 +12.9 week predicted losses would reach $250 billion handsets for the same reason, General Growth Prop GGP 49.90 +2.95 3-month disc 3.43 3.17 American Funds: BalA m 19.98 +0.35 +7.1 over the next five years. and that’s to get people to Illinois Tool Works ITW 55.70 +0.87 6-month disc 3.63 3.52 Fidelity: GrowCo 82.72 +2.56 +18.7 Certain structured investment vehicles, Kraft KFT 33.33 +0.62 2-year 3.53 3.41 Vanguard: 500Adml 136.73 +3.91 +6.1 spend more money,” Feng said. which also invest in mortgage-backed securi- McDnlds MCD 57.10 +0.06 10-year 4.25 4.22 Fidelity: LowPriStk 43.50 +1.13 +5.0 Until heading down last $1.32 ties, have defaulted on debt, forcing managers Motorola MOT 16.89 +0.50 30-year 4.60 4.60 FrankTemp-Frank: Income A m 2.66 +0.01 +5.0 week, tech stocks had offset 5.3% including Bank of America Corp. and Legg Northern Trust NTRS 80.21 +3.33 Vanguard: WndsrII 36.21 +0.92 +5.3 losses by shares in the housing Mason Inc. to prop up their money-market Sara Lee SLE 16.00 +0.33 Interest rates Fidelity: EqInc 58.82 +1.69 +3.3 and financial-services indus- Yahoo Inc. SearsHldgs SHLD 125.98 +3.32 Prime Rate 7.50 funds in recent days to cushion them from Walgreen WAG 39.10 +0.66 FOOTNOTES: b - fee covering market costs paid from fund assets; d - de- tries. But they regained their stock rose to Discount Rate Primary 5.00 ferred sales charge or redemption fee; f - front load (sales charges); m - multi- possible losses. Wm. Wrigley Jr. WWY 62.07 +1.34 Fed Funds close 4.56 ple fees charged, usually marketing fee and either sales or redemption fee; luster Tuesday. $26.10. The NA - not available; p - previous day’s net asset value; s - fund split shares Such efforts to assist money market funds Money Mkt 30-day avg 4.79 during week; x - fund paid distribution during week Yahoo Inc., owner of the Internet giant are very unusual, because money market in- State’s biggest employers, not based most popular U.S. Web site, in- had its stock struments, often called commercial paper, in Illinois or northwest Indiana creased $1.32, or 5.3 percent, to rating raised to normally are described as “sleep-tight mon- AMR AMR 23.20 +1.88 Futures Metals $26.10. CIBC raised its recom- “sector out- MONTH OPEN HIGH LOW SETTLE CHG. PREV CLOSE ey,” equivalent to the safety of cash. AT&T Inc T 39.85 +1.20 mendation on the shares to perform” from “The fallout is spreading wherever sub- JPMorgCh JPM 45.05 +2.66 WHEAT (CBOT) 5,000 bu min- cents per bushel Gold 803.50 804.25 “sector outperformer” from “sector per- prime mortgages have been bought,” said Pe- Safeway SWY 31.89 +1.17 Dec 750.50 765 745.50 748 -13 Silver 14.590 14.510 “sector performer.” It cited its former” by a Supvalu SVU 39.37 +1.68 CORN (CBOT) 5,000 bu min- cents per bushel Platinum 1437.00 1392.00 ter Cohan, president of a consulting firm in 21 percent drop over the previ- CIBC World Target TGT 59.60 +2.97 Dec 376.75 382 374 374.75 -4.25 Marlborough, Mass. “I think hedge funds will UPS B UPS 74.00 +1.35 ous five days and the rising val- Markets ana- get hit, but their disclosure will be hard to dis- WalMart WMT 45.97 +2.65 SOYBEANS (CBOT) 5,000 bu min- cents per bushel Nov 1044 1049 1031.50 1044.25+11.50 Foreign exchange ue of Yahoo’s stakes in compa- lyst. cern,” he said. “Same thing for pension Currency against U.S. dollar nies including Alibaba.com FOOTNOTES: cld–issue called for redemption; d–new SOYBEAN OIL (CBOT) 60,000 lbs- cents per lb COUNTRY (Currency) VS. $ funds.” 52-week low; ec–formerly listed on Amex’s Emerging Dec 44.25 44.95 44.11 44.23 -.23 Ltd., operator of China’s larg- Company Marketplace; g–dividends, earnings in Canadi- Australia (Dollar) 1.1210 est online trading site for com- an dollars; h–does not meet continued-listing standards; SOYBEAN MEAL (CBOT) 100 tons- $ per ton 2 million mortgages to reset lf–late filing with SEC; n–new issue in last year, 52-week high, low calculated from start date; pf–preferred stock Dec 285.40 286.90 280.00 285.00 +4.90 Brazil (Real) Britain (Pound) 1.7555 .4837 panies. Problems in the mortgage market cannot be issue; pr– preferences; pp–holder owes installments of LIGHT SWEET CRUDE (NYMX) 1,000 bbl.- $ per bbl. Canada (Dollar) .9640 The Bloomberg Silicon Val- purchase price; rs–reverse stock split, decreasing out- resolved quickly, said Peter Morici, a profes- standing shares by at least 50 percent in past year; rt– Dec 90.57 94.70 90.13 91.17 -3.45 China (Yuan) 7.4344 ley index of 32 stocks increased sor at the University of Maryland. right to buy security at specified price; s–stock split, in- Euro (Euro) .6851 3.6 percent, the highest per- creasing outstanding shares by at least 20 percent in past NATURAL GAS (NYMX) 10,000 mm btu’s, $ per mm btu India (Rupee) 39.225 “Over the next 18 months, 2 million adjust- year; wi–trades settled when stock is issued; wd–when distributed; wt–warrant, allowing purchase; u–new 52- Dec 8.001 8.123 7.882 7.949 -.012 Japan (Yen) 110.69 centage gain since Oct. 28, able-rate mortgages will reset to higher inter- week high; un–unit, including more than one security; v–trading halted; vj–in bankruptcy, receivership or be- NY HARBOR GAS (NYMX) 42,000 gallons- $ per gallon Mexico (Peso) 10.8690 2003. est rates, and many homeowners cannot af- ing reorganized under bankruptcy Dec 2.3130 2.4129 2.3040 2.3167 -.0998 Poland (Zloty) 2.49 —Bloomberg News -$1.33 ford the payments,” he said. “Without viable * List reflects stocks held by the largest number of accounts at Charles Schwab & Co. Inc. as of Sept. 30. The list will be updated quarterly beginning in January. 3.1% refinancing options, many homes will go on the market, and the recent decline in home Shares of prices could become a rout. The negative con- SMART INVESTING Adobe Sys- sequences for consumer spending and unem- tems Inc. fell An artistic approach to market pressures ployment are obvious.” to $40.86. Late In Tuesday’s auction, the Treasury Depart- Monday, CEO ment auctioned $20 billion in three-month Bruce Chizen bills at a discount rate of 3.43 percent, down unexpectedly from 3.55 percent last week. An additional $19 billion in six-month bills was auctioned at a Gauguin would have Whether artwork or a home, a possession is worth only what Sotheby’s Holdings Inc. has been getting its own dose of resigned, and the firm pro- discount rate of 3.625 percent, down from 3.78 percent last week. understood value of someone is willing to pay you for it. financial reality. The auction house had a net moted Presi- dent and Chief The Fed’s overnight target for short-term piece in eye of buyer Whatever the market, even loss of $20.9 million in the third Operating lending remains at 4.5 percent, after a pair of modest-budget individuals quarter, though that is better Officer Shanta- I rate cuts that began when the credit markets mpressionist artist Paul should buy something they than the loss of $30.7 million a nu Narayen to began having problems. The Fed’s latest move Gauguin would have under- truly like, because they may year earlier. President and replace him. to reduce its short-term target came on Hal- stood. Andrew Leckey wind up holding it a long time. Chief Executive Bill Ruprecht loween, less than two weeks ago. He began his professional life In art, that holds true even if said, “We remain positive for The three-month Treasury bill rate was the as a stockbroker at the Paris tian women bathing was below you thoroughly researched the the remainder of the year.” lowest since the bills averaged 2.85 percent on Stock Exchange. While attend- Sotheby’s presale estimate of artist, importance of the art, After gaining 69 percent last Aug. 20, at the height of the global credit crisis. ing art classes at night as a $40 million to $60 million. At authenticity and price. It holds year and rising much of this $3.90 The six-month rate was the lowest since these hobby, he shelled out his hard- the auction, only 56 of 76 pieces true whether you bought it at a year, the volatile stock has been 15.2% bills averaged 3.57 percent on Sept. 6, 2005. earned francs to buy paintings from various artists found buy- fair, a gallery or online. hit hard recently. In 2002, it Investment manager Hummer said evi- by Manet, Monet, Renoir and ers. Some works by Van Gogh, Gauguin understood finan- dropped 46 percent but rose 52 Shares of Bob dence of fear in credit markets poses no imme- others. Picasso and Monet went unsold, cial reality and paper profit. An percent the next year. At the Evans Farms diate danger to the economy, unless the wor- Gauguin had his ups and and prices of pieces that did sell 1882 stock market crash that current reduced price, Sothe- Inc. surged to ries spread to consumers. “We will know after downs in the stock market, so it often were 25 percent or more decimated his finances prompt- by’s stock receives two “buy” $29.60. The the holidays whether the credit crunch has probably would not have below expectations. ed him to try to support his and three “hold” recommenda- restaurant curbed spending, which would be a threat to shocked him to find out that Reduced prices and fewer family by painting. tions from Wall Street analysts, owner reported the economic expansion,” he said. the $39.2 million price tag for sales have prompted despair He eventually left his family according to Thomson Finan- third-quarter his oil on canvas painting “Te over a potential downturn in and sold a number of his paint- cial. earnings, ex- Tribune news services contributed to this re- Poipoi (The Morning)” that the art market. ings at auction to obtain money Gauguin might have consid- cluding some port. recently sold at a Sotheby’s Experts point out that even to travel to Tahiti. There he ered this a buying opportunity items, of 43 email@example.com auction in New York was a fabulously wealthy art collec- painted some of his most fa- for aggressive investors. cents a share, disappointment. tors, individuals or corpora- mous works, such as the “Two topping esti- Bill Barnhart, whose column appears Tuesday The sale price of the colorful tions, feel the chill of the sub- Tahitian Women” and “Where Andrew Leckey is a Tribune mates by 4 through Friday, is on assignment. painting depicting two Tahi- prime loan and credit debacle. Do We Come From?” Media Services columnist. cents a share.
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