Today was a nice finish for a volatile weak. Ben Bernanke talked down the economy and talked down inflation, making Wall Street push out the chances of a rate hike further and further out. Oil fell over $3.00 as US-Russian tensions are at least a tad less and after the US Dollar gained ground today. Today's unofficial closing bell levels are as follows:
DJIA 11,619.35 +1.65%
S&P500 1,292.05 +1.12%
NASDAQ 2,424.71 +1.44%
10YR T-Note 3.867% +.029
52-Week Low Club
Top analyst upgrades
Top analyst downgrades
Akamai Technologies Inc. (NASDAQ: AKAM) was a very unusual stock today. We saw major call option trading activity in the stock, making some wonder if this stock was in play. Shares were up in today's final minutes.
Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) took a downgrade from Moody's today. Shares were up on the day before these downgrades hit.
Lehman Brothers Holdings Inc. (NYSE: LEH) shares rose a sharp after Ladenberg Thalmann's Dick Bove said he believes that a hostile buyout is headed the way of Lehman as a buyer could essentially get the entire firm for the value of Neuberger Berman asset management firm.
Zumiez Inc. (NASDAQ: ZUMZ) was pretty impressive today after the skateboard and snowboard apparel retailer for youths showed a disappointing outlook for the second half of 2008 and even forecast a drop in same-store sales for the second half of 2008. Shares actually went up.
Douglas A. McIntyre is an editor at 247wallst.com.
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