Closing Bell: Record oil gain adds salt to bailout wounds; MS, MSFT higher; AAPL lower

Posted Sep 22nd 2008 4:11PM by Jon Ogg
Filed under: After the Bell, Deals, Microsoft (MSFT), Apple Inc (AAPL), Market Matters, Morgan Stanley (MS)

Covering the market close has led to two outcomes: being a financial stock specialist or being a Bedlam patient off the anti-psychotics. Monday was nothing short of another disappointment. Today's markets were headed south after the $700 billion bailout plan received more add-ons (and criticism), but the tone of massively higher costs combined with a sudden $20.00 a barrel gain in oil led the markets further and further south. Interestingly enough, alternative energy stocks failed to follow oil higher at all. As the bailout received criticism, financial stocks tanked.

These are today's unofficial closing bell levels:
DJIA 11,016.09 -372.35 -3.27%
NASDAQ 2,179.94 -93.96 -4.13%
S&P500 1,207.75 -47.33 -3.77%
10YR T-Bond 3.824% (+0.055%)
52-week lows
Top Analyst Upgrades & Downgrades

Apple Inc. (NASDAQ: AAPL) was a loser today after Morgan Stanley cut its estimates for the high-flying tech stock. Shares were down almost 6% at $132.66 in today's final minutes.

Morgan Stanley (NYSE: MS) was a winner today now that Mitsubishi UFJ will take a 10% to 20% stake in the company via a venture and capital infusion. Shares were up 2.5% at $27.83 in the minutes before the close.

CarMax Inc. (NYSE: KMX) saw a harsh day after the used auto seller posted earnings that were both under expectations and way under last year's levels. Shares were down 9% at $15.01 in today's final minutes.

Microsoft Corp. (NASDAQ: MSFT) was one of the few winners today with shares up 2.5% at $25.77 after the company said it would buy back up to $40 billion in common stock. It also increased its dividend, secured AAA ratings from S&P and Moody's, and said it would issue up to $6 billion in various debt instruments from time to time.

Tags: aapl, KMX, mitsubishi ufj, MitsubishiUfj, ms, msft

Print this

Reader Comments (Page 1 of 1)

9-22-2008 @ 5:57PM

gslv said...

The Leftists of the Bilderberg Group are at it again manipulating oil prices. The environmentalists want it over $200, based on their false CO2 theory.

9-22-2008 @ 6:34PM

Jennifer said...

In this time of corporate greed, Why hasn't anyone asked about the TRILLIONS of dollars in Off Shore Accounts!

I believe the USA should INSIST on opening these accounts that are illegal and hiding TRILLIONS OF DOLLARS to evade US taxes.

We should be able to look at these accounts and seize that money to be able to put that money back into the US economy!

I bet there will be accounts from the highest US elected officials, judges, senate and congress and also most of these corporate SEO's that have Raped our US Finance system!

This would ease the burden on the middle class tax payers!