Closing Bell: Sudden euphoria, take 18 (C, DNDN, LOW, ORCL, SII)

Citigroup Inc. (NYSE: C) was almost unbelievable as it rose with the whacky junk financial stocks. Singapore's sovereign wealth fund cut its stake in Citi from 9% down to below 5%, realizing a $1.6 billion profit. Citi shares were down over 4% at $20.99 late in the trading day.

Dendreon Corp. (NASDAQ: DNDN) was down late in the day. This might fly against logic since Leerink Swann gave it an outperform rating and a $40.00 target, but this is after an almost 25% rise over the last week. Shares were down 1% at $29.13 late in the day.

Lowe's Companies Inc. (NYSE: LOW) fell today despite reaffirming its full fiscal 2009 profit and sales guidance. The home improvement company still expects earnings of $1.13 to $1.21 per share compared to Thomson Reuters estimates of $1.20 per share. The company also said that it may write off up to $100 million in the second half of the year. Shares were down 4.3% at $21.00 late in the trading day.

Oracle Corp. (NASDAQ: ORCL) was lower but off lows after reports said that Sun Microsystems was losing $100 million per month while the E.U. tries to figure out of the deal will be anti-competitive. Shares were down 0.3% at $21.50 late in the trading day.

Smith International Inc. (NYSE: SII) was up big on elevated options trading. There may be some hope that a merger is coming as there has been consolidation in the oil services space.