Closing Bell: Bulls stay strong despite oil's rise
Below are today's unofficial closing bell levels:
DJIA 11,583.93 (+186.37)
S&P500 1284.19 (+21.00)
NASDAQ 2329.72 (+10.10)
10YR T-Note 4.048% (+0.004%)
52-Week Lows
Top Analyst Upgrades
Top Analyst Downgrades
Comcast Corp. (NASDAQ: CMCSA) posted EPS a tad light, but many used EBITDA in their analysis. Shares rose throughout the day and were up over 5% at $20.20 in today's final minutes.
Electronic Arts Inc. (NASDAQ: ERTS) fell after it posted a loss of 42 cents per share on $609 million in revenues vs. estimates of $639.8 million and a loss of 33 cents per share. Guidance was deemed light or inline at best, and shareholders decided to use the valuation analysis to tank the stock despite a solid game lineup. Shares were down over 7% at $44.00 in today's final minutes.
Garmin Ltd. (NASDAQ: GRMN) looked ugly as a can of worms. The GPS leader posted 93 cents EPS vs. $1.00 estimates and sees $3.86 EPS vs $4.00 estimates. It's also delaying its GPS geek phone. Shares hit new 52-week lows and were down 22% at $35.12 in today's final minutes.
MetLife Inc. (NYSE: MET) is pretty amazing when you consider the news. The company missed earnings and lowered 2008 guidance after saying it suffered investment losses and saw catastrophic losses above plan. We don't know if Snoopy can cover all the claims at once. Still shares managed to get back to being down only 2.3% at $51.56 in today's final minutes after looking down 10% early.
Wyeth (NYSE: WYE) was the drug blowup after its highly awaited Alzheimer's data showed some promise but failed to meet preset goals and endpoints. Wall Street killed this stock on a disappointment, but some bulls didn't get the drop. They need only look at the drop of over 12% to $39.60 by today's final minutes to understand.
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