Stock Market Snapshot: Dec. 4, 2006
By Jeffrey Yorke
Monday, December 4 2006
Monday, December 4 2006
Published on AllBusiness.com
The three major indexes managed to finish Monday (Dec. 4) in positive territory despite the monumental news from Pfizer Inc. that it is pulling the plug on development of cholesterol drug torcetrapib because of deaths and cardiovascular problems among people taking the drug during clinical trials. Until news of the deaths spread through the pharmaceutical and financial communities on Saturday, the drug was considered one of Pfizer's most promising therapies. Still, the Dow finished up by 89.72 points, to 12,283.85, NASDAQ increased 35.18, to 2,448.39, and the S&P 500 was up 12.41, to 1,409.12.
There was joy in Radioland as 22 issues on the Radio & Records Index finished in the green column, seven in red and Spanish Broadcasting System unchanged at $4.23.
Cumulus led winners with a 44-cent increase, to $10.59; Westwood One picked up 21 cents, to $6.78; Entravision gained 20 cents, to $7.57; and Harris increased 89 cents, to $43.47. Radio One rose 13 cents, to $6.55.
Interep led losers with a 2-cent drop, to 35 cents a share while Salem slipped 30 cents, to $11.43.Sirius Satellite Radio drifted by 8 cents, to $4.17 a share, FastChannel Network dropped 17 cents, to $11.44, and Regent lost 2 cents, to $3.02.
There was joy in Radioland as 22 issues on the Radio & Records Index finished in the green column, seven in red and Spanish Broadcasting System unchanged at $4.23.
Cumulus led winners with a 44-cent increase, to $10.59; Westwood One picked up 21 cents, to $6.78; Entravision gained 20 cents, to $7.57; and Harris increased 89 cents, to $43.47. Radio One rose 13 cents, to $6.55.
Interep led losers with a 2-cent drop, to 35 cents a share while Salem slipped 30 cents, to $11.43.Sirius Satellite Radio drifted by 8 cents, to $4.17 a share, FastChannel Network dropped 17 cents, to $11.44, and Regent lost 2 cents, to $3.02.
