New to the Mac? Check out TUAW's Mac 101

AOL Money & Finance

Closing bell: Bears win, non-recession GDP fails to impress

More

You could have tossed a coin today and come up with the same predictions for if the market was going to close up or down. The 1.9% GDP report was lighter than the 2.2% estimates, but despite feeling like a recession, it isn't formally a recession. Equities headed south as did oil prices by more than $2.00 per barrel. Investors chose to focus on the bad data today and take profits. The bears came roaring back by the close.

Here are today's unofficial closing bell levels:

DJIA 11373.38 (-212.91)
S&P500 1266.96 (-17.30)
NASDAQ 2325.55 (-4.17)
10YR T-NOTE 3.979% (-0.069%)
KEY ANALYST DOWNGRADES

Akamai Technologies Inc.
(NASDAQ: AKAM) was today's big loser in tech, media, telecom. The company beat estimates last night but guidance was a few percentage points light and the investment community still demands growth here. Shares were down by 26% to a new 52-week low at $23.10 in the final minutes.


Exxon Mobil Inc. (NYSE: XOM) was one of the ill omens this morning for trading. Imagine making well over $10 billion in earnings on way over $100 billion in revenues (in a quarter rather than a lifetime) and seeing your stock FALL! Yep, shares were down over 4% in today's final minutes at $80.74.

First Solar Inc. (NASDAQ: FSLR) blew the doors off the house with $0.85 EPS vs. $0.58 estimates and raised guidance. Shares are up 6% pre-market and were up 10% last night, but by today's final minutes we saw only a 0.6% gain to $286.50.

ImClone Systems Inc. (NASDAQ: IMCL) rose sharply as Bristol-Myers sent Carl Icahn (chairman) a letter with an offer to acquire the company for some $60.00 per share. Investors are hoping a higher bid is ultimately made as shares were up in the final minutes by 37% at $63.81.

Motorola Inc. (NYSE: MOT) announced that it essentially broke even versus loss expectations and it also sees break-even to $0.02 EPS next quarter vs. $0.01 estimates. It also sees 2008 finishing up at $0.06 to $0.08 EPS from operations vs. estimates of about $0.02. In short, things are just less crummy than everyone who threw in the towel thought. Shares rose over 12% to $8.63 in the final minutes. Don't worry if you really dislike it though, because the cell phone unit break-off may take a year, and investors still don't seem to like the company.
Symbol Lookup
IndexesChangePrice
DJIA-223.328,280.74
NASDAQ-49.201,796.52
S&P 500-26.91896.42

Last updated: July 05, 2009: 09:08 PM

BloggingStocks Exclusives

Hot Stocks

DailyFinance Headlines

Latest from BloggingBuyouts

TheFlyOnTheWall.com Headlines

BioHealth Investor Headlines

WalletPop Headlines

My Portfolios

Track your stocks here!

Find out why more people track their portfolios on AOL Money & Finance then anywhere else.

BloggingStocks Partners

More from AOL Money & Finance

WalletPop Headlines