Closing Bell: Directionless market, but directed stocks (BA, CAL, COF, FRE, WFC, OSTK)

The Boeing Company (NYSE: BA) managed to do better than expected, although many were cautious here. The aerospace and defense player posted $0.86 EPS vs $0.91 and $16.5 billion in revenues vs $16.7 billion estimates; and it said that the commercial airplane market is facing unprecedented challenges based upon the current economy. Shares were up over 3% at $37.90 shortly before the close.

Capital One Financial Corporation (NYSE: COF) showed dismal numbers last night when it said that it expected its credit card losses to possibly exceed 10%. Ouch. Shares were down only about 1% shortly before the close, yet they had been down 10%.

Continental Airlines Inc. (NYSE: CAL) posted a loss at -$1.07 EPS on revenues of $3 billion. The estimates were -$1.19 EPS and $2.98 billion in revenues. Traffic was down some 11%. Shares were down about 7% at $13.93 shortly before the close.

Freddie Mac (NYSE: FRE) shares fell down after its interim CFO committed suicide. This is troubling when you consider that the SEC has been inquiring at the GSE and the buck always stops with the CFO. Shares were down almost 6% at $0.82 shortly before the close.

Wells Fargo & Company (NYSE: WFC) reported net income of $3.05 billion, with a net income applicable to common shares of $2.38 billion. This translated to $0.56 EPS, compared to estimates at $0.41 EPS and $19.37 billion in revenues. Shares were up over 5% at $19.83 shortly before the close.

Overstock.com, Inc. (Nasdaq: OSTK) posted an 8% decline in revenue of $187.4M and a net loss at -$0.09 EPS. There was not an accurate pool of estimates for a comparison. But this does represent an $0.11 improvement compared to the -$0.20 EPS in the same period a year ago. Shares were up over 8% at $12.30 shortly before the close.