CNBC's O'Brien: Chip Rally Saving Dow Today
CNBC’s Bob O’Brien talked with Michelle Caruso-Cabrera about his stock winners and losers for the day so far. Some poor December retail sales numbers and less-than-stellar economic data caused sharp losses in the Dow, but a semiconductor rally is sparking a comeback. O’Brien says Intel is leading the pack.
The Santa Clara, Calif., chipmaker is up 4% today. Bank of America released a report increasing its fourth-quarter estimates for the company to 27 cents per share.
Boeing also is doing a good job of lifting the Dow. The company confirmed today that 2006 was a record year in terms of order and delivery numbers, which were 729 and 103, respectively. Boeing has taken full advantage Airbus’ recent troubles.
Also, AvalonBay Communities is up on news that it will replace Symbol Technologies on the S&P 500 once Motorola acquires it.
On the downside, Advanced Medical Optics continues to suffer after a dismal year in 2006. The stock has sunk to a new 52-week low after cautioning that the U.S. Food and Drug Administration is asking questions that could delay one of its upcoming products.