Closing bell: Bulls prevail as oil barrels cheapen

Posted Jun 19th 2008 4:22PM by Jon Ogg
Filed under: After the Bell, Major Movement, Earnings Reports, Deals, XM Satellite Radio (XMSR), Sirius Satellite Radio (SIRI)

Stocks were up today, but less than you might imagine after a large drop of more than $4.00 on oil in late-day prices. So much for Goldman Sachs' raising oil target again today, as well as lifting the oil services sector and upping price targets for some of the sector's stocks .

Here are today's unofficial closing bell index levels:

DJIA 12062.93 (+33.87)
S&P500 1342.86 (+5.05)
NASDAQ 2462.07 (+32.36)
10YR T-NOTE 4.199% (+0.045%)
52-Week Lows
Top 10 Analyst Calls

Evergreen Solar Inc. (NASDAQ: ESLR) was one of the huge winners today with shares up over 20% at $12.33 in today's final minutes. The company announced a huge second round contract that added significantly to its backlog.

Huntsman Corporation (NYSE: HUN) imploded after its private equity buyout was officially notified as "being killed" by the buyers, and shares were down 38% at $12.79 at the end of the day. Mark that as an all-time low.

Pier 1 Imports Inc. (NYSE: PIR) was a horrible loser today after the company missed earnings and gave guidance that requires faith in management's ability to execute. Shares were down some 19% at $5.01 in the final minutes.

SandRidge Energy, Inc. (NYSE: SD) was down over 5% at $64.66 in late day trading with energy prices going lower. There was highly unusual options trading in this one that has never been seen before.

Sirius Satellite Radio Holdings Inc. (NASDAQ: SIRI) and XM Satellite Radio Holdings Inc. (NASDAQ: XMSR) were hit horribly to 52-week lows after a key Goldman Sachs price target cut. Shares were down 12% and 17% respectively in today's final minutes of trading.

Tags: eslr, hun, inthenews, pir, sd, siri, xmsr