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Today was another one of those days where it was hard to tell if the market was up. The market gapped up and then posted a great morning rally, and then proceeded to give back most of the gains from noon until late in the afternoon. Housing was dismal, producer prices were down, and Bernanke and Paulson testified about the TARP usage. Below are today's unofficial closing bell levels:
Anheuser-Busch Companies Inc. (NYSE: BUD) is no more..... The merger was completed today with InBev and the stock will now be European listed and be called Anheuser-Busch InBev. Shareholders of common stock receive $70.00 per share in cash as part of this $52 billion merger.
Corning Inc. (NYSE: GLW) gave disappointing LCD panel guidance which was "below" the $1.1 to $1.2 billion in revenues previously offered and "at the low end of below" the $0.20 to $0.28 EPS range previously offered just a few weeks ago. Shares were down 7% right before the the close.
First Solar, Inc. (NASDAQ: FSLR) had a rough day after negative comments on green investing by Jim Cramer last night on CNBC's Mad Money. But the stock was given a very positive research call this morning by JPMorgan while other green stocks were given a thumbs down. No one cared. Shares were down almost 5% right before the the close, but well off the lows.
Hewlett-Packard Company (NYSE: HPQ) issued preliminary guidance for its fourth quarter-end in October with revenues of roughly $33.6 billion and $1.03 non-GAAP EPS. Thomson Reuters (First Call) had estimates at $33.09 billion in revenues and $1.00 EPS. More importantly, it also gave guidance out to 2009. Shares were up almost 12% right before the the close.
Home Depot, Inc. (NYSE: HD) posted earnings at $0.45 EPS vs. $0.38 estimates. While it warned of soft sales and earnings like its rival did yesterday, shares were up for most of the trading day. Unfortunately, shares had dipped slightly into negative territory toward the end of the day. Shares were up almost 1% right before the the close.
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
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Reader Comments (Page 1 of 1)
11-18-2008 @ 10:09PM
Jessy Scholl said...
The BUD sellout isn't final yet. InBev still has to sell its Pabst division, and that will be a dealbreaker. The source is FOX News which reported that information yesterday.