Intel (INTC) +3.91%
Semiconductors got a boost from Goldman Sachs Group saying the group will continue to outperform the S&P 500 Index and profits are likely to start improving, now that the companies have pared back inventory.
Arch Coal (ACI) +4.50% and Peabody Energy Corp (BTU) +7.62%
Coal producers rallied as China considering new stimulus measures. China gets 80 percent of its electricity from coal.
Caterpillar (CAT) +13.22% and Jacobs Engineering Group (JEC) +8.72%
Caterpillar and Jacobs jumped after Transportation Secretary Ray LaHood said there are an ‘enormous number’ of highway jobs coming.
Some of Caterpillar’s gain can be attributed to anticipation of a new stimulus plan in China.
General Electric (GE) -4.56%
GE dropped for the fourth straight day, driven down by selling by sovereign wealth funds anticipating a downgrade of the company’s AAA credit rating, according to PIMCO’s Bill Gross. GE said claims that it needs to raise capital in the near term are “pure speculation.”
Lockheed Martin (LMT)
LMT won a 10-year contract worth up to $5 billion to supply U.S. military commandos with logistics support, a contract that L-3 Communications Holdings (LLL) held for more than 20 years and considered among its most prestigious lines of business.
I will have more on Lockheed and the defense industry tomorrow.
Quick Hits
- More Than 8 Million U.S. Mortgage Holders Are Under Water as Prices Tumble
- Berkshire Hathaway Credit Swaps Rise to Record, Imply ‘Junk’
- Short-Sale Rule Undermined by SEC Data After Bernanke Urges Review
- Trading Tax to Fund U.S. Bailout Would ‘Decimate’ Markets, NYSE Chief Says
- Defense Firms Look to Fill Gaps as U.S. Policy Shifts
Peter Lazaroff, Junior Analyst
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