Today was one of those Monday trading session that had no real direction and no real data to digest on a macro basis. So traders decided to lighten up after the big runs we have seen, particularly after four weeks of the markets rallying. There is also probably a sense of locking in some gains in case the two day FOMC meeting this week starts to take on a less free-money tone. Here were today's unofficial closing bell levels:DJIA: 9337.18(-0.34%)
S&P500: 1005.89 (-0.46%)
NASDAQ:1992.24(-0.40%)
Top Analyst Calls:
LogMeIn Inc. (NASDAQ: LOGM) saw its quiet period end after its July 1 IPO date. Most analysts gave it a positive outlook and favorable rating, yet shares were down over 6% at $16.80 very late in the trading session.
AMR Corp. (NYSE: AMR) was weak all day. The parent of American Airlines may have more regulatory reviews as it and British Air will have to face a review over the Oneworld Alliance in antitrust matters at a joint hearing next month. Shares were down 4% at $5.71 in the final minutes of the day.
Chevron Corp. (NYSE: CVX) said the local government of Western Australia state has approved a project called the Gorgon liquefied natural gas project that has been pending for some time. As oil was up marginally but the mood was profit taking, shares were down 0.7% at $68.97 in the final minutes of trading.
Freddie Mac (NYSE: FRE) was a huge winner after the company reported a loss. But the real win was after it said it did not need more government financial assistance. For now, at any rate. Shares were up 98% at $1.47 late in the day. Fannie Mae (NYSE: FNM) rose in conjunction with Freddie Mac as the two companies are considered the evil twins. Its shares were up 45% at $0.96 late in the session.
Microsoft Corp. (NASDAQ: MSFT) was lower after selling its Razorfish digital advertising firm to Publicis in cash and stock. Shares were down 0.6% at $23.41 in the final minutes of trading.
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