Closing Bell: Another day, another dollar loss for the Dow


Today felt like a mini-me version of yesterday's 180-point DJIA sell-off. Again, thin volume persisted. Perhaps the oil traders got an upper hand on some weather forecasting models, putting Tropical Storm Fay back into the Gulf of Mexico with a very promising 25% chance of happening. This would put the oil infrastructure at risk. A super-high PPI report put wholesale inflation up 1.2% (double estimates) at the highest level since late 2006.

Below are the unofficial closing bell levels:
DJIA 11,348.47 (-130.92)
S&P500 1,266.86 (-11.74)
NASDAQ 2,383.52 (-33.46)
10YR T-Note 3.842% (+0.026%)
52-WEEK LOWS
Top Analyst Calls

Home Depot Inc. (NYSE: HD) showed a 24% decline in earnings with results at $0.71 EPS on a 5.4% drop in revenues to $21 billion. Estimates were $0.61 EPS and $20.6 billion. The home repair supplies and hardware retail beast shares were actually down almost 4% at $25.95 in today's final minutes after the sellers overpowered the bulls at the open.

Lehman Brothers Holdings Inc. (NYSE: LEH) felt the wrath of traders after reports that it would also sell a stake in its Neuberger Berman money management unit and on reports that CEO Dick Fuld was passing down some responsibilities to his #2. Shares were down 13% in today's final minutes.


Staples Inc. (NASDAQ: SPLS) had a rough day with shares ending down 4% at $23.60 in today's final minutes of trading after it confirmed that business and consumer slowing is also affecting its sales. The office supplies retailer sees 2008 sales growth in low-single digits and now sees flat earnings growth before a large charge related to its acquisition of Corporate Express. For Q2 it actually sees a drop of 15% to earnings on a 3% sales rise. Will it break under $20?

Xinhua Finance Media Ltd. (NASDAQ: XFML) was up almost 6% at $2.88 in today's final minutes. The company beat earnings expectations and raised expectations for 2008. The company posted $0.10 EPS on $48.9 million in sales versus $0.07 EPS and $49.6 million in revenues. It now sees 2008 EPS at $0.33 to $0.35 versus prior targets of $0.31 to $0.33.
Symbol Lookup
IndexesChangePrice
DJIA+47.4512,848.68
NASDAQ+17.662,921.54
S&P 500+5.961,348.60

Last updated: February 13, 2012: 12:53 PM

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