The broader indices have ticked off their intraday lows in the past half hour, though they remain notably lower on the day. Dow -60.67, Nasdaq -16.36, S&P 500 -6.41. NYSE Adv/Dec 1167/1900, Nasdaq Adv/Dec 943/1856.

The semiconductor and networking sectors dropped off during the mid-morning and are now down 1.2% and 1.5%, respectively. Energy stocks remain weak as well, led by a 1.5% decline in the oil service space.

The housing sector ticked higher through the 10 o'clock hour and has kept to a range near its highs lately. Friday's advance more than makes up for the decline posted the day before, with the sector now up 1.1%. Though SanDisk (SNDK) is still supporting the space with an 11% advance, the disk drive sector has given up most of its early gains and is now only modestly higher on the day.

Gillette (G) has broken to a new 52-week high on news of its $57 billion deal to be acquired by Procter & Gamble (PG). MicroStrategy (MSTR) has jumped to a new peak on earnings news, while Bausch & Lomb (BOL) is adding to Thursday's earnings-inspired rally, adding to its high.

Once again, earnings news is sending a number of stocks to new 52-week lows, including Sanmina-SCI (SANM), LookSmart (LOOK) and Millipore (MIL). JDS Uniphase (JDSU) is extending its nadir, adding to a downtrend that has lasted since the beginning of the year.


American Healthways Inc. Continues To Lose Ground [AMHC]

1/28/2005 11:54:25 AM American Healthways Inc. (AMHC) has been moving to the downside for the last hour and is now trading lower by 0.64 at $29.81.

American Healthways Inc. has been heading lower for the last 6 sessions and is now trading at a 3-month low.

Polo Ralph Lauren Corp. (RL) has climbed above Friday's range in the last 10 minutes and is now higher by 0.38 at $39.38.

Polo Ralph Lauren Corp. has been heading higher for the last 2 sessions after rebounding off of support.

Gold Fields Limited (GFI), a South African gold mining company commented on the waiver of condition by Harmony Gold Mining Limited (HMY) for its offer, whereby it required acceptances in excess of 50 per cent.

The board of directors of Gold Fields welcomed the waiver by Harmony in its bid as an acknowledgement that there is no prospect that they will acquire majority control of Gold Fields. Their offer had under valued Gold Fields and resulted in massive value destruction for the shareholders of both companies.

The board also warned the shareholders of both companies that there can be no certainty for some time as to what shareholding, if any, Harmony will come to hold in Gold Fields.

Gold Fields' board noted that the waiver of 50 per cent condition by Harmony clearly indicated that it is prepared to settle for a minority stake in Gold Fields rather than complete take over it originally envisaged.

GFI is currently trading at $11.25 losing 9 cents on a volume of 214,700 shares. HMY is trading at $8.19 up 4 cents on a volume of 697,700 shares.

Yum! Brands Inc. (YUM) announced today that its Board of Directors has authorized the repurchase of shares of the company's outstanding common stock up to an additional $500 million over the next 12 months. In May 2004, the Board authorized the repurchase of shares up to $300 million, which is expected to be completed during the first half of 2005.

Brown Shoe Company (BWS) climbed to the upside in the first hour of Friday's session and has risen further in the last 30 minutes. The stock is now up 0.82 at $28.87.

Brown Shoe Company has been heading higher for the last 2 sessions and is now challenging its 50-day moving average. The stock may encounter resistance around $30.00.

Anteon International Corp. (ANT) moved to the downside in the later half of Friday morning and has slipped lower in the last few minutes. The stock is now down 0.64 at $34.07.

Anteon International Corp. has been on the decline for nearly a month and is now trading at a 4 1/2 month low. The stock has also dropped below its 200-day moving average.

Macromedia Inc. (MACR) moved to the downside at the open of Friday's session and has fallen lower in the last 40 minutes. The stock is now lower by 0.64 at $32.65.

Macromedia Inc. pulled back from the highs of the year on Thursday and may find support around $31.25.

Travelzoo Inc. (TZOO) gapped open higher Friday morning, but has since moved in a range. The stock has fallen lower in the last 10 minutes and is now down 1.21 at $54.60.

Travelzoo Inc. has dropped below a 4-session range and is now trading at over a 3-month low.

Frontline Ltd. (FRO) spiked to the upside around 10:00 this morning and has risen higher in the last 10 minutes. The stock is now up 1.20 at $48.15.

Frontline Ltd. is challenging the upper end of a one-month range.

eCost.com Inc. (ECST) gapped down and moved lower at the open of Friday's session and has fallen further in the last few mintues. The stock is now down 1.09 at $11.46.

eCost.com Inc. is testing the lower end of a 2 1/2 week range.

Sina Corp. (SINA) has been moving to the downside for the last 45 minutes and is now lower by 1.57 at $25.08. Volume has begun to increase in the last 10 minutes.

Sina Corp. has dropped below a one-week range and is now trading at a 4-month low.

Vasco Data Security International (VDSI) moved slightly to the upside at the open of Thursday's session and has risen higher in the last few minutes on increased volume. The stock is now up 0.31 at $7.51.

Vasco Data Security International has risen above a week and a half long range and is now trading at a new high for the year.

XL Capital Ltd. (XL) has been gradually declining for the last hour and is now down 0.93 at $74.32. Volume has begun to increase in the last 10 minutes.

XL Capital Ltd. has fallen below a one-week range and is now trading at a 9-week low.

Coventry Health Care Inc. (CVH) revealed that it has acqired First Health Group Corp. Each outstanding share of First Health common stock was converted into a right to receive $9.375 cash and 0.1791 shares of Coventry common stock.

Related to the merger, Coventry said it is issuing about 16.5 million shares of its common stock to former First Health stockholders.

Airgas To Raise Prices On Packaged And Bulk Gases And Other Products To Maintain Its Profit Margins - Update [ARG]

1/28/2005 12:43:12 PM Friday afternoon, Airgas Inc. (ARG), a distributor of industrial, medical and specialty gases, revealed that its regional companies and operating units would increase prices on packaged and bulk gases and other products and services, effective February 28, or as contracts permit.

Airgas said that the prices would be increased by 6%-10% for packaged industrial, specialty and bulk gases, 10%-15% for helium, 12%-15% for acetylene, and 7%-8% for carbon dioxide.

Further, the company also noted that it would raise cylinder and bulk tank rental rates and pricing for hardgoods and safety products and services.

The company said that the decision was influenced by steadily rising costs, operating costs in fill plants and other facilities, costs for gas products and higher steel prices.

Peter McCausland, Chairman and CEO, said, "These pricing actions are needed so that we can maintain our profit margins, which will support these kinds of investments to add value to our customers."

ARG is currently trading at $23.40, up $0.12