A late day rally based on imbalance orders and on the Treasury's PPIP winners made a wishy-washy day even that more confusing. The market started out with a slight upside bid, but it never could find its footing. This is probably due to continued earnings jitters ahead of earnings season. Continued oil inventory data and continued worries about regulating the commodities markets were based around how much speculators can really control.
Here were the unofficial closing bell levels:
Dow 8,184.68 +21.08 (0.26%)
S&P 500 880.29 -0.74 (-0.08%)
Nasdaq 1,749.09 +2.92 (0.17%)
Top Upgrades and Downgrades
Amgen Inc. (NASDAQ: AMGN) soared on very positive test results. Shares were up 14% at $59.50 late in the trading session.
Family Dollar Stores Inc. (NYSE: FDO) had an uptick of large proportions. The dollar-store chain posted a 35% gain in earnings. Shares were up 12% at $31.15 in the final hour of trading today.
First Solar, Inc. (NASDAQ: FSLR) finally caught a bid from traders today. An analyst upgrade to Buy at ThinkEquity drove the price higher after five consecutive losing days. Shares were up 2.6% at $148.53 late in the day.
General Electric Company (NYSE: GE) was hit today because of what almost feels like a rogue analyst call with a $2.00 price target. The problem in just calling the guy crazy is that this analyst called for a short sale when GE was north of $30.00. GE shares were down almost 3.5% at $10.63 late in the trading day.
YRC Worldwide Inc. (NASDAQ: YRCW) was today's 52-week low loser. We saw a noted volume increase and shares were down 21% and just under the $1.00 level today as it seeks possible debt exchanges.
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