AOL Money & Finance

Closing Bell: Profit taking to hibernating bulls (ANF, AXP, BBI, DRYS, NKE, YHOO)

Posted May 15th 2009 4:00PM by Jon OggJon Ogg RSS Feed
Filed under: Yahoo! (YHOO), Blockbuster Inc 'A' (BBI), American Express (AXP), NIKE, Inc'B' (NKE), Abercrombie and Fitch (ANF)

More

Not all weeks can end on an a positive note, and this week was just one of those weeks. Maybe the bulls went into hibernation, or maybe it was all just profit taking. The DJIA closed out last week at 8,574.65, so the drop to 8,273.50 shows what sort of week it was. Inflation is still tame and the Empire Manufacturing data was actually close to positive.

Here were today's unofficial closing bell numbers:

Dow 8,273.50 -57.82 (-0.69%)
S&P 500 883.37 -9.70 (-1.09%)
Nasdaq 1,680.14 -9.07 (-0.54%)

Top Analyst Calls

Abercrombie & Fitch (NYSE: ANF) traded lower on earnings, or lack thereof. This was on the report of a -$0.31 EPS loss as sales fell by 24% to $612.1 million. It is also reviewing its Reuhl unit. Shares were down 4.6% to $25.99 late in the day.

American Express Company (NYSE: AXP) crossed the double-digit mark on charge-offs that other lenders have started to see. Shares were down 2.9% to $24.00 late in the day. AmEx still has better credit metrics than most.

Blockbuster Inc. (NYSE: BBI) was a disaster. It posted $0.19 EPS before items on about a 20% drop in revenues to $1.12 billion. But the company still sees sliding sales ahead. Shares were down 28% at $0.81 late in the day.

DryShips Inc. (NASDAQ: DRYS) was up big today after getting a waiver from lenders in its credit pact. Shares would have been up more, but the notion that it can sell shares into the open market kept a little lid on it after such a huge drop this last week. Shares were up over 12% at $6.86 ahead of the close on over 100 million shares.

Nike Inc. (NYSE: NKE) is close to reporting that it will cut its workforce by 5% or 1,750 jobs. That is hardly a sign of anything solid in its business by any means. Shares were down 2% at $49.95 late in the day.

Yahoo! Inc. (NASDAQ: YHOO) was one of the few winners today after Jim Cramer had a total change in his views. He has decided to be positive on it after years of being negative. Shares were up over 1.1% at $14.95 late in the day.

Tags: american express, AmericanExpress, credit card, CreditCard, DRYS, featured, jim cramer, JimCramer, nike, reuhl

Symbol Lookup
IndexesChangePrice
DJIA-14.2810,318.16
NASDAQ-10.782,146.04
S&P 500-3.521,091.38

Last updated: November 22, 2009: 08:22 PM

BloggingStocks Exclusives

Hot Stocks

DailyFinance Headlines

Latest from BloggingBuyouts

TheFlyOnTheWall.com Headlines

BioHealth Investor Headlines

WalletPop Headlines

My Portfolios

Track your stocks here!

Find out why more people track their portfolios on AOL Money & Finance then anywhere else.

  • My Portfolio
  • Create a New Portfolio

BloggingStocks Partners

More from AOL Money & Finance

WalletPop Headlines