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Closing Bell: Merger Mania fails to wake buyers (BAC, C, GE, DNA, GERN, HGSI, WFC)

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We had the possibility of three or four big mergers today and no major macroeconomic news to rock us down other than added overseas selling. But a general lack of enthusiasm and additional selling from the public kept today from chasing the late Friday stock market gains. Even a slighty less pessimistic Nouriel Roubini, a.k.a. "Dr. Doom," failed to inspire any contrarian thoughts. Despite this, there were many winning stocks and sectors.

Here are today's unofficial closing bell levels:

Dow 6,523.48 -103.46 (-1.56%)
S&P 500 676.53 -6.85 (-1.00%)
Nasdaq 1,268.64 -25.21 (-1.95%)
Top Analyst Calls

Bank of America Corporation
(NYSE: BAC) was up after Barron's reported that this was no Citigroup Inc. (NYSE: C), and that it could rise substantially from here. B of A also has an FDIC-backed bond issue being sold today to bolster capital. B of A shares were up 15% to $3.62 and Citi shares were flat at $1.03 right before the close.

General Electric Company (NYSE: GE) rose further on word that it was selling more government backed debt. This one was up almost 5% to $7.38 right before the close.

Genentech Inc. (NYSE: DNA) rose on reports that the company is close to accepting a $95.00 buyout offer from Roche to get the board to go along with the multi-billion acquisition of the world's largest biotech company. This stock was up 2% to $92.68 right before the close.

Geron Corporation (NASDAQ: GERN) was a huge winner in the land of stem cell research today. Shares were up 17% to $4.56 late in the day, which was actually well off of pre-market highs. President Obama signed an executive order which will lift the ban on embryonic stem cell research. Just keep in mind that this should have been a known event.

Human Genome Sciences Inc. (NASDAQ: HGSI) was a major disappointment today and the worst performing stock of the day. Shares were down a sharp 62% at $0.63 late in the day. The company originally reported that its Hepatitis C trials met the primary goals of the study. But further analysis showed that the results were not worth more than anything already out. Shares were down 63% at $0.62 before the end of the day.

Wells Fargo & Company (NYSE: WFC) rose sharply after Warren Buffett talked the stock up on a CNBC interview today. Here Buffett said how the operations were running well and will be very profitable through time. This one was up 15% at $9.93 right before the close.
Symbol Lookup
IndexesChangePrice
DJIA+30.6910,464.40
NASDAQ+6.872,176.05
S&P 500+4.981,110.63

Last updated: November 25, 2009: 05:59 PM

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