- DJIA 12,392.66 (+420.41; +3.51%)
- S&P500 1,330.74 (+54.14; +4.24%)
- NASDAQ 2,268.26 (+91.25; +4.19%)
- 10YR-TBond 3.451% (+0.137%)
Jerry Yang of Yahoo! Inc. (NASDAQ: YHOO) managed to see shares of the lagging Internet search and content rise some 7% to $27.66 after it issued reaffirmed guidance, although this is more likely an effort to stave off that Microsoft Corporation (NASDAQ: MSFT) acquisition than anything.
Most financials led the rally sharply, with Lehman Brothers Holdings, Inc. (NYSE: LEH) also beating estimates. The Bear Stearns Companies, Inc. (NYSE: BSC) was a giant winner with shares rising over 20% to $5.91 on a myriad of rumors about its pending mercy buyout, although at one point shares were as high as $8.00. Also Thornburg Mortgage, Inc. (NYSE: TMA) rose a sharp 27% to $2.87 after filing an open registration to raise capital.
GameStop Corp. (NYSE: GME) gave strong guidance out to January, 2010, after beating earnings, but its shares rose only 3.3% to $48.55. After seeing the news, this might actually be a disappointment today based on the news.
Sunrise Assisted Living, Inc. (NYSE: SRZ) fell a sharp 14% to $19.59 after missed an extended deadline to file its annual report, and that is after it already noted some items were being taken down before. Delays after restatements are generally a no-no for Wall Street.
Tonight we are getting the pricing of the highly awaited IPO from Visa, Inc., in what may be the largest IPO ever. Traders have been looking at member banks and owners as back door trades into that IPO, and the same can be said for traders in MasterCard Incorporated (NYSE: MA).
As a reminder, options expire this week and Friday the stock market will be closed for Good Friday.
Most financials led the rally sharply, with Lehman Brothers Holdings, Inc. (NYSE: LEH) also beating estimates. The Bear Stearns Companies, Inc. (NYSE: BSC) was a giant winner with shares rising over 20% to $5.91 on a myriad of rumors about its pending mercy buyout, although at one point shares were as high as $8.00. Also Thornburg Mortgage, Inc. (NYSE: TMA) rose a sharp 27% to $2.87 after filing an open registration to raise capital.
GameStop Corp. (NYSE: GME) gave strong guidance out to January, 2010, after beating earnings, but its shares rose only 3.3% to $48.55. After seeing the news, this might actually be a disappointment today based on the news.
Sunrise Assisted Living, Inc. (NYSE: SRZ) fell a sharp 14% to $19.59 after missed an extended deadline to file its annual report, and that is after it already noted some items were being taken down before. Delays after restatements are generally a no-no for Wall Street.
Tonight we are getting the pricing of the highly awaited IPO from Visa, Inc., in what may be the largest IPO ever. Traders have been looking at member banks and owners as back door trades into that IPO, and the same can be said for traders in MasterCard Incorporated (NYSE: MA).
As a reminder, options expire this week and Friday the stock market will be closed for Good Friday.
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