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Closing Bell: Bulls drinking with bears out on a kitchen pass

Posted Jul 3rd 2008 1:10PM by Jon OggJon Ogg RSS Feed
Filed under: Abbott Laboratories (ABT)

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Today was a good end to a strange trading week, while many shares had light volume with today's half-day trading session. Non-Farm payrolls declined worse than expected to 62,000, and May was revised higher to 62,000 jobs lost as well. The ISM non-Manufacturing came in again under 50 at a very weak 48.2, signaling growth isn't back to being close to the table. The dollar traders were probably less than thankful after the European Central Bank raised its overnight rates and as oil neared $146.00 per barrel intra-day. These are today's unofficial closing bell levels:
We actually handed an award to analysts for a tie in the Worst Analyst Calls of the Week. They were that late.

Abbott Labs (NYSE: ABT) saw a rise of almost 1% to $54.75 after the FDA approved its XIENCE drug eluting stent.

NVIDIA (NASDAQ: NVDA) saw a horrific drop after the company's earnings warnings. This is what happens when your new product fails enough that it increased the severity. Shares were down 30% at $12.49 at the close.

Penn National Gaming (NASDAQ: PENN) actually rose despite the merger finally being called off. We knew this was coming. Shares closed up 3.7% at $29.66 today.

Have a great weekend, and remember markets are closed Friday in observance of the July 4 holiday.

Jon C. Ogg

Tags: ABT, market close, MarketClose, NVDA, PENN

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Last updated: November 26, 2009: 01:40 AM

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