Closing Bell: DJIA barely holds 12,000... chips dip

Posted Jun 18th 2008 4:14PM by Jon Ogg
Filed under: After the Bell, Earnings Reports, FedEx Corp (FDX), AMR Corp (AMR)

How would one describe today other than as a real disappointment? The DJIA broke 12,000 for the first time since March and the pressure here makes one wonder if that magic psychological level will hold. Oil was up over $136/barrel late in the day over strikes in Nigeria and lower inventories.

Here are today's unofficial closing levels:

DJIA 12036.38 (-123.92)
S&P500 1338.71 (-12.22)
NASDAQ 2429.71 (-28.02)
10YR T-Note 4.154% (-0.071%)
52-WEEK LOWS
Top 10 Analyst Calls

AMR Corp. (NYSE: AMR) saw another drop of almost 5% by the final minutes, down to $5.42, after the company presented its estimates on fuel use, costs and hedges today at a Merrill Lynch Global Transportation Conference.

FedEx Corporation (NYSE: FDX) was trading down over 2% at $82.32 in today's final minutes after the company missed earnings and lowered guidance this morning.

Fifth Third Bancorp (NASDAQ: FITB) was the financial disappointment of the day after the company decided to come clean and announce it was raising some $2 Billion in capital and slashing its dividend. Shares were down 22% at $9.83 in the final minutes of the day.

Panera Bread Co. (NASDAQ: PNRA) was a standout gainer as shares were up over 5% at $47.96 in today's final minutes after the company raised guidance this morning.

Tags: amr, fdx, ftib, inthenews, pnra