Closing Bell: The close of the week that wouldn't end (AAPL, ARRY, FNM, TIVO)

Posted Sep 4th 2009 4:00PM by Jon Ogg
Filed under: Apple Inc (AAPL), Federal Natl Mtge (FNM)

Well, 9.7% unemployment did not create a ridiculous trading volume day, even though it felt as though the entire trading universe awaited the 4:00 closing bell for the long weekend.

Here are today's unofficial closing bell levels:

Dow 9,440.66 +96.05 (1.03%)
S&P 500 1,016.32 +13.08 (1.30%)
Nasdaq 2,018.78 +35.58 (1.79%)

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Apple Inc. (NASDAQ: AAPL) was another rising stock. Persistent chatter was out that it had secured a deal to launch the Beatles... FINALLY, after years of it not being available. One more thing to chew bubble gum to. Shares were up some 2% at over $170.00 late in the day.

Array BioPharma Inc. (NASDAQ: ARRY) was the daily biotech catastrophe after its experimental rheumatoid arthritis treatment study failed to meet its endpoints and found to be not more effective than the placebo. Shares were down 25% at $2.90 late in the trading session.

Fannie Mae (NYSE: FNM) rose after it received notice yesterday from the New York Stock Exchange that it has regained compliance with the NYSE's minimum price standard of the $1.00 rule. Shares were up almost 7% at $1.76 later in the trading session.

TiVo Inc. (NASDAQ: TIVO) was a big winner after reports that it won its court case over play-pause technology against Echostar and Dish. Tivo was up late in the trading day.

Tags: ARRY, beatles, featured, rheumatoid arthritis, RheumatoidArthritis, TIVO