Closing Bell: Good things really can go wrong ... (AIG, F, MOS, RIMM, WMT)

Posted Sep 1st 2009 4:00PM by Jon Ogg
Filed under: Wal-Mart (WMT), Ford Motor (F), Research in Motion (RIMM), Amer Intl Group (AIG)

So you finally get to see some growth figures from the ISM and then the market sells off again. We have enjoyed a heck of a run-up and now trading desks are lightening up to boot as we get closer to the 3-day weekend. Today was such a poor result on the market internals that even all the defensive stocks were dropping. Even inverse-leverage ETF's were getting traction again. Bill Gross's bleak outlook probably only added insult to injury today.

Here are today's unofficial closing bell levels:

Dow 9,310.60 -185.68 (-1.96%)
S&P 500 998.04 -22.58 (-2.21%)
Nasdaq 1,968.89 -40.17 (-2.00%)

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American International Group, Inc. (NYSE: AIG) saw a day-two dump. This was on the heels of a Bernstein downgrade with a $10 stock target still intact. AIG shares were down another 20% at $36.11 right before the close. That marks almost a $20 pullback from Friday morning's highs.

Ford Motor Company (NYSE: F) posted a 21% gain in auto sales for August, yet Ford shares were down almost 5% at $7.23 ahead of the closing bell.

The Mosaic Company (NYSE: MOS) was one of the few materials stocks that traded higher. The fertilizer and potash player was seeing unusual call options activity today and shares were up 2% at $49.45 right before the closing bell.

Research In Motion Ltd. (NASDAQ: RIMM) was one of the few technology winners as it was given a nice analyst upgrade today. Shares were up almost 1% at $73.77 right before the close.

Wal-Mart Stores Inc. (NYSE: WMT) was the only one of the 30 DJIA components which was still higher right before the close. Shares were up 0.2% at $51.00 in today's final minutes.

Tags: auto sales, AutoSales, bill gross, BillGross, ETF, ISM, MOS