The market was weak just about all day, but an Obama speech on his broad and general economic plans gave some pause to the selling and allowed at least a NASDAQ recovery and the broad markets were not as bad as before. Despite atrocious retail numbers, there were several theme-oriented retailers who saw same-store sales gains, which helped their stocks. This was also the second consecutive week where weekly jobless claims came in less than expected and under the 500,000 mark. There was a flood of downgrades from Wall Street analysts this morning. Here are today's unofficial closing bell levels:- DJIA: -27.08 (8,742.62)
- S&P500: +3.08 (909.73)
- NASDAQ: +17.95 (1,617)
Whole Foods Markets Inc. (NASDAQ: WFMI) rose sharply after activist Ron Burkle's Yucaipa Cos. investment arm took a 7% stake in the high-end and organic grocer. Shares were up over 20% at $12.19 late in the day.
Wal-Mart Stores Inc. (NYSE: WMT) was nearly the Grinch that stole Christmas. The company gave poor December numbers that ultimately lowered its net earnings guidance due to consumers shifting to lower-end items. Shares were down over 7% at $51.26 late in the day, but that was well off of lows.
Schlumberger Limited (NYSE: SLB) did not just get hit with the two-day selling in oil. Layoffs are coming to its workforce. Shares were down 1.5% at $44.89 late in the day.
Sun Microsystems Inc. (NASDAQ: JAVA) was pounded after Goldman Sachs cut it to a SELL rating. Shares were down 10% at $4.58 late in the day.
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