There are no major economic numbers today and interestingly enough the quadruple witching date for options expiration seemed to have very little impact and create very little volatility. Even the huge drop in oil down to under $34.00 per barrel had no real impact. Even if you watched the market tick by tick, you still wouldn't have any great feel for where the market bias closed. Here are today's unofficial closing bell levels:
Dow 8,573.29 -31.70 (-0.37%)
S&P 500 886.68 +1.40 (0.16%)
Nasdaq 1,564.32 +11.95 (0.77%)
Top Upgrades & Downgrades (BKD, SNH, AMZN, AAUK, CENX, EBAY, PRGS)
52-Week Lows
Research in Motion Ltd. (NASDAQ: RIMM) earnings and guidance came in very lackluster, but not quite as bad as expected after it warned in the last two or three weeks. Shares were actually up about 10% late in the day at $42.75 as bottom fishers came in.
General Motors Corporation (NYSE: GM) was up 10% late in the day, but well off its previous highs. President Bush said the White House was including the autos in the TARP to get a short-term loan through March to stay afloat through the first 60-days of the Obama administration. This is more of a bandage than a cure, but autos were up.
Oracle Corporation (NASDAQ: ORCL) was up 7% late in the day at $17.80 after Larry Ellison and friends met earnings and guided in-line with estimates. Revenues were negatively affected as the November currency changes were greater than any other quarter.
Monsanto Company (NYSE: MON) was up earlier but failed to run because of a potash earnings warnings from a competitor today. The company was given a positive article in Business Week's "Inside Wall Street" on the assumption that farmers will continue to pay premiums for its enhanced crop seeds despite near term issues.
Palm, Inc. (NASDAQ: PALM) lost over $500 million but shares were up over 10% at $2.47. The news expectations are so bad that it seems much is priced in.
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