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This was one of those days where profit takers had the markets soft all morning, but strong pending home sales rallied the stock market and trumped an inverted spending and income figure. A revision for a lower hurricane season helped insurers. Here were today's unofficial closing bell levels:
Dow 9,315.51 +28.95 (0.31%)
S&P 500 1,004.86 +2.23 (0.22%)
Nasdaq 2,008.80 +0.19 (0.01%)
Top Analyst Upgrades/Downgrades
The Allstate Corporation (NYSE: ALL) was one of the insurance winners based on a lower guidance for hurricane season. Its shares were up 2.2% at $27.95 late in the day.
Eastman Kodak Company (NYSE: EK) was the mystery volume mover today as some hopes are out there for a deal of some sort or for some internal change. Shares were up over 23% at $4.03 late in the day.
General Electric Company (NYSE: GE) has reached a settlement with the SEC regarding four accounting matters in 2002 and 2003. Despite a cost claim of $200 million, the company only has to pay $50 million to the SEC as a settlement and does not have admit or deny any wrongdoing. Shares had been down all morning but were up 0.15% late in the trading session.
PepsiCo, Inc. (NYSE: PEP) finally managed to secure accepted buyout offers at a higher price of more than $7 billion for the stakes in its bottlers that it did not own. Its shares were up almost 5% at $59.00 shortly before the close.
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