IBD's Top 10 - Thursday

• Investor's Business Daily
• On 6:49 pm EST, Thursday November 5, 2009

Stocks Rise, But Volume Down

1 They opened strong and finished at Thu.'s highs, fueled by better-than-expected economic data and upbeat comments from tech bellwether Cisco (NasdaqGS:CSCO - News). The Nasdaq shot up 2.4%, the S&P 500 1.9% and the NYSE composite 1.7%. The Dow rose 2.1% to back above 10,000. But volume fell across the board. Gold rose, oil fell.

Retail And Labor Reports Strong

2 Oct. same-store sales rose 2.2% vs. a year earlier, the best since April '08. Luxury chains did well, but teen stores slumped. Jobless claims fell 20,000 last week to 512,000, a 10-month low. Productivity rose at a 9.5% annual rate in Q3. Firms are squeezing costs, but efficient operations will find hiring profitable. Fri.'s jobs report will show further payroll cuts.

AMA, AARP Back Dem Health Bill

3 After the big endorsements, House Dem leaders predicted Sat. passage for their $1.2 tril overhaul. Pres. Obama said, "We are closer to passing this reform than ever before." The 40-mil member AARP promised to run ads and contact activists in support. Abortion and labor provisions remain hurdles for the bill, which is unlikely to win any GOP support.

Tea Party Protests Health Plans

4 Thousands of anti-gov't activists demonstrated in front of Capitol Hill, protesting Democratic plans for a major expansion of gov't health care programs and spending. Tea partyers helped spook lawmakers during Aug. town hall meetings and contributed to key GOP election wins Tue. Republican lawmakers urged the crowd to keep the pressure on.

House OKs Housing, Jobless Aid

5 The House voted overwhelmingly to extend the $8,000 first-time homebuyer tax credit from Nov. 30 to deals signed by April 30 -- and create a $6,500 credit for buyers who've owned their current home for at least 5 years. The bill also would extend jobless benefits by up to 20 weeks. Lawmakers are worried that removing stimulus could hurt the fragile recovery.

More Charges In Galleon Case

6 Authorities filed criminal charges vs. 14 people, including a lawyer at a top firm, in a widening $53 mil insider trading case that has already snared one of the nation's richest men. A total of 20 people have been charged in the case first disclosed in Oct. with the arrest of Galleon founder and hedge fund operator Raj Rajaratnam and 5 others.

U.N. Pulls Back In Afghanistan

7 The int'l organization will send 600 of its 1,100 foreign staff out of the country or into secure compounds after last week's deadly Taliban attack on a U.N. guest house. It's a setback for Western efforts to stabilize the nation. The U.N. said int'l support will wane unless the Afghan gov't cracks down on corruption fueling the insurgency.

Climate Talk Goals Scaled Back

8 With the U.S. still struggling to agree on sharp cuts in greenhouse gases or how to fund them, European officials said they are striving for a political deal that would let the U.S. and other rich nations make commitments that aren't legally binding. A Senate panel OK'd a cap-and-trade bill Thu. as GOP members boycotted; it likely couldn't pass the full Senate in its current form.

CVS Falls On Big Lost Contracts

9 The drugstore chain's Q3 EPS rose 8.3% to 65 cents ex items, topping views by a penny. Revenue rose 18% to $24.6 bil, above views; pharmacy service revenue rose 23%. But CVS Caremark (NYSE:CVS - News) announced more multibillion-dollar contract losses in its pharmacy benefits management business. The unit's chief will retire. CVS shares tumbled 20%.

Hyatt Hotels Rises 12% In Debut

10 Shares of the hotel chain rose to 28 after it priced its $950 mil IPO at $25 a pop. Low occupancy and rates during the recession have slammed the industry. But Hyatt's solid debut is a positive. The IPO's proceeds won't go to Hyatt, but instead mostly to the Pritzker family, which will still own about two-thirds of Hyatt's shares. Also, Ancestry.com rose 5% to 14.20 in its debut.

Buzz up!