Today was one of those days where many traders looked like and acted like they wanted to just lock in gains after what was the first full week for many traders in about three weeks. Yet shares stayed strong. Options expiration dates and a S&P rebalance brought in some added volatility and money managers are now scared to tell their clients that they are not all-in on stocks. So while markets were up most of the day, the real closing bell with all of today's events was something that felt as though it would be down to the wire. Here were today's unofficial closing bell levels:
Dow 9,819.52 +35.60 (0.36%)
S&P 500 1,068.26 +2.77 (0.26%)
Nasdaq 2,132.86 +6.11 (0.29%)
Top Analyst Upgrades
Top Analyst Downgrades
Top Day Trader Stocks
Arena Pharmaceuticals Inc. (NASDAQ: ARNA) saw very unusual trading as the stock gapped down and them rose to very positive on word that its BLOSSOM trial met all primary efficacy and the safety endpoints with highly significant weight loss and was not associated with depression or suicidal ideation. Shares were up 13% at $5.55 late in the trading day.
AMR Corporation (NYSE: AMR) had an active day on word that it teamed with British Airway and Qantas Airways over a joint offer of assistance to the financially troubled Japan Airlines on the heels of AMR's big capital raise. Shares were down 0.5% at $8.75 late in the afternoon.
Palm, Inc. (NASDAQ: PALM) was literally all over the place. Its earnings were a score, but the 16 million share secondary announcement and the lack of specific data on Palm Pre smartphone sales irked everyone. Shares were down by over 4% at $13.80 late in the day.
SIRIUS XM Radio Inc. (NASDAQ: SIRI) was down all day on a NASDAQ warning over its share price. Shares were down 4% at $0.66 late in the afternoon, although trading volume was very light considering the drop and considering the news.
VIVUS Inc. (NASDAQ: VVUS) showed that not all secondary offerings are bad for shareholders. The company raised almost $100 million in a share sale and shares were up over 7% at $11.40 late in the trading session.
Have a great weekend. Rosh Hashana starts at sundown, and as a reminder Japanese markets are closed from Monday to Wednesday for a holiday.
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