Today was just one of those strange days where the markets fell throughout the day on no real market moving news. There was a low news-flow and there was a lack of any meaningful cause and effect. This is supposed to be the kick-off to the earnings season, although that doesn't come on with much major force until next week. Here are today's unofficial closing bell levels:
Seagate Technology (NYSE: STX) was a horrible stock today with the company replacing the CEO and announcing it was going to slash 10% of its U.S. workforce later this month. Shares were down 16% late in the day at $4.72.
Morgan Stanley (NYSE: MS) and Citigroup Inc. (NYSE: C) both fell on news that the firms were about to launch a joint venture. Smith Barney, according to sources, could become a joint venture 51% owned by Morgan Stanley. Morgan Stanley was down almost 5% at $18.20 and Citigroup was down almost 20% at $5.43 late in the day.
Genentech (NYSE: DNA) was essentially unchanged despite reports that Roche is committed to its acquisition and is considering a raised bid of $95.00 per share in cash to secure a deal approval. Shares were up 0.5% late in the day at $86.75.
Alcoa Inc. (NYSE: AA) fell 7% to $10.02 late in the day ahead of earnings upon the realization that its earnings guidance was going to be at the mercy of the aluminum markets.
Harley-Davidson, Inc. (NYSE: HOG) was down over 12% to $14.07 late in the day after Goldman Sachs cut its rating down to a SELL from an already caution Neutral rating.
Why is gold making a new high, trading at $1,118.00 per ounce?
Chasing Value: Ten stocks for 2010 -- Part 1 
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Reader Comments (Page 1 of 1)
1-12-2009 @ 8:13PM
NICK said...
I'm no expert but have been alot more correct than slugs like Crammer. Remember Crammer said get in their and buy one stock after another, what a joke this guy is, lap dog to the CEO of GE.