Mid-Day Report

The markets surged during the midday in anticipation of brisk sales Black Friday. The Dow leaped 121 points to 12,920 while Nasdaq soared 23 points to 2585.

On the upside

E-Trade (Nasdaq: ETFC) gave up some of its earlier gains but continued to trade up over take-over speculation.

Shares of Apple (Nasdaq: AAPL) rose in anticipation of brisk sales on Black Friday.

J. P. Morgan's (NYSE: JPM) JPMorgan Asset Management Infrastructure Investments and Colonial First State Global Asset Management of Commonwealth Bank of Australia purchased United Utilities' electricity distribution assets.

On the downside

Shares of McClatchy (NYSE: MNI) continued to fall over concerns that the housing slump will adversely affect advertising revenue.

Although City Telecom (Nasdaq: CTEL) reversed year ago losses to report a profit for fiscal 2007 as margins expanded and subscriptions increased, the stock price fell.

SatCon Technology (Nasdaq: SATC) reported a loss for the quarter.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 8 points to 748.

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