Just as we were getting used to write about how bad trading has been, today came around and was positive throughout. The housing data from existing home sales sent the markets up, despite mostly dismal news from the industrials. Bank stocks had yet another up day. Here are today's unofficial closing bell levels:
Top Analyst Downgrades
Caterpillar Inc. (NYSE: CAT) was a huge drag today after it missed earnings, warned ahead, and said it is firing about 20% of its workforce. Shares were down 9% at $32.44 late in the day, but they had been under the prior 52-week low of $31.95 earlier in the day.
Exxon Mobil Corp. (NYSE: XOM) was noted positively as the top oil company to own in Barron's over the weekend in an article calling the sector as "Big Oil's A Buy." Shares were up almost 1% at $78.63 late in the day.
Halliburton Company (NYSE: HAL) was up over 3% late in the day at $18.92 after showing that not all is bad at big oil service companies. The oil field services giant posted earnings at $0.87 EPS vs $0.73 estimates.
Barclays plc (NYSE: BCS) was the biggest winner today in financial stocks and helped to lead the banking sector. The UK-based banking giant said it is not seeking new any further capital and even said that its profits are going to be above analyst expectations. Shares were up over 60% at $4.97 right before the close.
Berkshire Hathaway Inc. (NYSE: BRK.A), conversely, was talked down in this weekend's Barron's as financial stocks are dragging down the results of the conglomerate run by the Oracle of Omaha. Shares were down about 1.5% at $85,011.00 late in the day.
Entrepreneur's Journal: Putting together a solid sales contract
The week in preview: Earnings from Walmart, Macy's, and other retailers
Six top trades for the rest of 2009
