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ISM non-manufacturing and housing numbers were reported today and they remained weak, but the weakness was arguably not as bad as many were bracing for. Shares stayed up most of the day, although feelings were mixed despite the FOMC minutes showing something worse than a normal recession. Here are today's closing bell levels:
Apple Inc. (NASDAQ: AAPL) fell almost 2% after the loved company announced price cuts to much of the iTunes offerings at Macworld today. It also seems that the large format Macbook with a 17" screen at nearly $2,700 may be a bit off the mark now that the nostalgia of thrift is full into the spirit of consumers.
General Electric Co. (NYSE: GE) managed to post gains today after the company announced that GECC would sell $4 billion in bonds with a spread of 400 basis points. The difference between this sale and the last one yesterday is that these carry no government backing.
Logitech International SA (NASDAQ: LOGI) was down over 5% late in the day with shares at $15.22 after the company lowered guidance. Technically, it withdrew guidance, but the comments laid it all out. Interestingly enough, traders may be looking for value here.
Wells Fargo & Co. (NYSE: WFC) saw a drop of almost 2% late in the day, although not on any news from the company. Moody's cut its debt ratings on the banking giant on a post-Wachovia merger.
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