Today was an up day to start that rapidly went south. But then late in the day we had a speech from Alan Greenspan which helped out after he said the financial markets are improving and that housing is close to bottoming out. Here were the unofficial closing bell levels:
Dow 8,469.11 +50.34 (0.60%)
S&P 500 908.35 -0.89 (-0.10%)
Nasdaq 1,715.92 -15.32 (-0.88%)
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Bank of America Corp. (NYSE: BAC) sold something to the tune of 13.5 billion shares of China Construction Bank to a group of investors for a figure of $7.3 billion. Shares still fell with the banking sector and because the bank is still selling common stock. Shares fell 5% to $12.27.
Dell Inc. (NASDAQ: DELL) rose because of planned user-friendly application changes that it plans to make to its lineup of Netbooks, which it has starting at $299 per unit. As it wants market share back, its shares rose almost 2% to $11.21 in today's session.
Ford Motor Company (NYSE: F) fell on the effect of it planning to 300 million shares of common stock, but this does still juice up its capital. Shares were down 17% to $5.01 today.
General Motors Corp. (NYSE: GM) was at its lowest levels since 1933 as executives sold out of most to all of their company stock. Shares were down 20% at $1.15 today.
MBIA Inc. (NYSE: MBI) was up huge early on because of reported earnings. This was up 15% early on, but investors broke down the data to account for the mark to market gains and sold the hell out of the gain. Shares closed down almost 12% at $6.14 after being as high as $7.90 this morning.
STEC Inc. (NASDAQ: STEC) was the winner of the day based upon earnings. Last night the small memory component company beat earnings and raised guidance. Shares were up over 30% at $13.60 on the day.
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