Today was a massive day, and not just for the stock market. The FOMC might as well just be turning on the printing presses for all the capital it is going to inject to banks with its $1 Trillion (plus) purchase of securities. The massive rally right after the FOMC announcement came well off of highs, but the excitement is there. The tame CPI is of no impact here in that sense. Here are today's unofficial closing bell levels:
Dow 7,486.58 +90.88 (1.23%)
S&P 500 794.35 +16.23 (2.09%)
Nasdaq 1,491.22 +29.11 (1.99%)
Top Analyst Upgrades
Top Analyst Downgrades
The big story of the day was Sun Microsystems Inc. (NASDAQ: JAVA). It turns out that International Business Machines Corp. (NYSE: IBM) is in talks to buy the troubled high-end server maker. The price is said to be north of $10.00 and this took shares up over 80% to $9.04 before the close on well over 10-times normal volume.
General Electric Company (NYSE: GE) was up another 2% as tomorrow marks the expected capital and commercial portfolio "unzipping of the fly" by GE's management. Shares were up 2.5% at $10.25 right before the close.
American International Group, Inc. (NYSE: AIG) was a big winner today. It turns out that much of the bonuses paid out, at least according to CEO Liddy, had been communicated to oversight officials before they were paid out. Shares were up 40% at $1.34 right before the close.
Adobe Systems Inc. (NASDAQ: ADBE) rose sharply on its earnings report. This was surprising when you consider that the company had just updated guidance two weeks ago. Shares wer eup over 11% at $21.30 right before the close.
Direxion Financial Bull 3X Shares (NYSE: FAS): turns out it may not need that speculated reverse split after all, which we thought might come. The company's media relations contact even said it was a possibility as well. The triple-leverage financial ETF was up a sharp 27% to $7.15 right at the end of the day.
Google's plan for netbook PCs moves higher into the clouds
So long peak oil, here comes peak uranium
Black Friday expected to be strong, no promises for Christmas
Reader Comments (Page 1 of 1)
3-18-2009 @ 6:04PM
marshall said...
Instead of bailing out banks and insurance cos Maybe the govt should buy stocks A couple of million shares of a co. should send it up