Closing Bell: Bears win decisive victory, sort of (AET, AFL, AEZS, FSLR, LOW)


Today's weakness was due to two issues. First was a much needed pullback after a monster run-up in the markets. Second was a weak Asian market turnout that spilled over to the west on concerns that maybe the recent gains did not add up to as high as share prices had gone. The stronger NY Fed District manufacturing data was merely a footnote. The bears might claim a decisive victory because there were no major rallies, but keep in mind that this is a summer Monday with light trading desks.

Here were today's unofficial closing bell levels:

Dow 9,135.34 -186.06 (-2.00%)
S&P 500 979.72 -24.37 (-2.43%)
Nasdaq 1,930.84 -54.68 (-2.75%)

Top 10 Analyst Calls

Aetna Inc. (NYSE: AET) shares were up today on word that the Obama administration might be closer to allowing changes in healthcare that do not include a public health insurance option. Shares were up 4.5% at $29.59 ahead of the closing bell.

AFLAC Inc. (NYSE: AFL) gave back some 4.9% at $39.74 late in the day despite some very unusual call options trading for dividend capture trades.

AEterna Zentaris Inc. (NASDAQ: AEZS) was the biotech blow-up of the day. This one said that a Phase III study showed no clear differences in overall efficacy. Shares were down some 61% at $1.09 ahead of the closing bell.

E*TRADE Financial (NASDAQ: ETFC) was down after weekend reports that regulators have suspended their consideration of an application from the company that would allow routing more of the online broker's trades through Citadel Investment Group's market-making operation. Shares actually came back to positive though, and the stock was up 1.5% at $1.37 right before the closing bell.

First Solar, Inc. (NASDAQ: FSLR) was the daily bomber in solar stocks. Barron's noted that this one had aggressive accounting that made up for much of its gains, and this sent shares down. The stock was down over 5% at $134.20 late in the trading session.

Lowe's Companies Inc. (NYSE: LOW) was a disappointment as the home improvement and hardware giant posted $0.51 EPS vs. $0.54 estimates. Revenues were light as well, and same store sales were a disappointment. Shares were actually well above lows at the end of the day, but the stock was still down over 10% at $20.40 right before the close.
Symbol Lookup
IndexesChangePrice
DJIA+70.2712,871.50
NASDAQ+21.992,925.87
S&P 500+6.881,349.52

Last updated: February 13, 2012: 01:11 PM

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