Today was a mixed day in the news, despite the rally we saw in the equity markets. Some was related to a surge in the dollar causing a relatively small drop in oil prices after hints of the Saudis boosting production. The Labor Department reported that the inflation index, the Consumer Price Index, rose by +0.6% in May, just above the +0.5% economists were looking for. The core-CPI, an ex-food and ex-energy basis, showed only a gain of +0.2% that matched expectations. Too bad that no one can go without energy or food. Perhaps the more shocking number came out of the housing sector where there were reports that May's foreclosure rates were up 48% compared to last year's reading. Below are the unofficial closing bell levels for major index levels:]
DJIA: 12307.67 up 166.09
NASDAQ 2,454.50 up 50.15
S&P 500: 1,360.12
52-WEEK LOWS
TOP 10 ANALYST CALLS
Capstone Turbine Corporation (NASDAQ: CPST) was one the more active movers after its earnings, but the real boost came from the realization that its backlog was actually understated and even better than an already strong report. Shares were up in the final minutes today.
The Coca-Cola Company (NYSE: KO) shares were hit today after Coca Cola Hellenic Bottling (NYSE: CCH), which Coke owns more than 20% of, revised its 2008 earnings growth estimate to 5% to 8% on weak volumes, well below the 12% to 15% previously forecast.
Fifth Third Bancorp (NASDAQ: FITB) was the bank blow-up of the day on a BMO Capital report calling for it to cut the dividend and having the need to raise capital. Shares were down in the final minutes of the day.
Lehman Brothers Holdings, Inc. (NYSE: LEH) actually managed to post gains today after a dismal week after it raised capital, pre-released earnings, and canned both its CFO and COO from the company. Shares were up in the final minutes of the day.









