Closing Bell: End of day buyers again mask mixed day

Posted May 28th 2008 4:12PM by Jon Ogg
Filed under: Expedia Inc (EXPE), Dow Chemical (DOW), Polo Ralph Lauren'A' (RL)

We saw another late day move save the markets today from looking like just one more mixed post-holiday trading session. The highly volatile durable goods orders came in at -0.5% for April, based partly on severe declines in aircrafts and autos. Any reprieve in oil was just that, some reprieve but no cure. We also saw the 10-Year Treasury cross back above that 4.00% threshold again. FOMC governor Mishkin also announced that he would retire in August, although this was non-moving for the market. Below are the unofficial closing bell levels:

DJIA 12,594.84 (+46.49)
S&P500 1391.01 (+5.66)
NASDAQ 2486.70 (+5.46)
52-WEEK LOWS
TOP 10 ANALYST CALLS

Akeena Solar Inc. (NASDAQ: AKNS) saw a monster volume spike early on after boutique research firm Kaufman Bros. initiated coverage on the speculative solar stock with a Buy rating. More interesting than the research call itself was the overall level of volume right at the open that saw follow-on interest throughout the day as shares were up nearly 16% at $6.83 in the final minutes today.

American Eagle Outfitters (NYSE: AEO) saw a 9% rise by the final minutes of the trading day to $18.79 after its earnings came in above some expectations.

Dow Chemical Co. (NYSE: DOW) shares were up almost 1% at $40.60 in the final minutes today after the chemical maker said it was going to raise its prices on all product groups by up to 20% starting on June 1.

Expedia Inc. (NASDAQ: EXPE) saw a 7% share rise to $23.37 by the final minutes of the trading day as rumors circulated that Barry Diller was considering taking it private.

KeyCorp (NYSE: KEY) saw shares down over 11% at $19.45 in the final minutes today after the company increased its loan loss forecasts.

Polo Ralph Lauren Corp. (NYSE: RL) shares were up 11% in the final minutes today at $68.57. The company beat earnings expectations and guided in-line for the year ahead.

Tags: AEO, AKNS, DOW, EXPE, inthenews, KEY, RL