The economic numbers are getting better, and every time the bears call an overbought market the market just gets even more overbought. Even some of the bulls are surprised at how there has been no pullback. The housing prices and consumer confidence reflect this data. Here are today's unofficial closing bell levels:
Dow 9,539.21 +29.93 (0.31%)
S&P 500 1,028.00 +2.43 (0.24%)
Nasdaq 2,024.23 +6.25 (0.31%)
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Human Genome Sciences Inc. (NASDAQ: HGSI) was up again, partly on takeover interest. While shares were up yesterday, the stock was up over 11% at $19.15 late this afternoon ahead of the closing bell.
Bank of America Corp. (NYSE: BAC) was higher after noting that it did not mislead investors about the payment of Merrill Lynch bonuses before the firms merged, and after the SEC defended its $33 million settlement that a judge has held up by saying that the fine was fair and reasonable. Shares were up 2% at $17.71 late in the afternoon before the closing bell.
Goldman Sachs Group (NYSE: GS) rose despite reports that FINRA and the SEC are asking the firm to provide more data on what have been called "trading huddles" where the firm has gotten together with preferred clients. Shares were up 1.3% at $164.70 ahead of the closing bell.
Corinthian Colleges Inc. (NASDAQ: COCO) was up after beating earnings: $0.31 EPS vs. $0.24 estimates and gave revenues up 29% to $353.5 million versus estimates of $342.9 million. Its raised guidance was the real cheer after announcing continued gains in student numbers. This one was up 6.5% at $18.47 shortly before the closing bell.
Retailers can't wait for Black Friday, open Thursday
Tiffany's serves up solid quarterly earnings
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Reader Comments (Page 1 of 1)
8-28-2009 @ 7:18PM
bob schick said...
love when bears, greedy, stupid bears, skilled at making money at the expense of others, fight the market
how can something be oversold when it was going to be nationalized to zero stock value (I guess the Post Office was going to run AIG and BAC and C)
don't wake up and smell the roses bears; keep fighting the market; good bear!