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Closing Bell: The Yo-Yo market (ENER, ITT, F, GS, UNH, RA, FIG)

Posted Oct 13th 2009 4:00PM by Jon OggJon Ogg RSS Feed
Filed under: Ford Motor (F), Goldman Sachs Group (GS)

Today was another trading day bare of major economic data. Shares were all over the place today with the indexes not giving any clear direction at any point of the day. It was not until right before the close that you had a real feel for whether we would close up or down today.

Here are the unofficial closing bell levels:

Dow 9,874.31 -11.49 (-0.12%)
S&P 500 1,073.56 -2.63 (-0.24%)
Nasdaq 2,140.22 +1.08 (0.05%)

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Energy Conversion Devices, Inc. (NASDAQ: ENER) sold off as yesterday's buyout rumors failed to materialize anything solid. Shares were down 5.75% at $11.78 ahead of the closing bell. This is also one of the key trader stocks that has not rallied at all with the market.

ITT Corporation (NYSE: ITT) was up today on talk that it may finally have a buyer. Shares were up 3.3% at $53.12 ahead of the closing bell.

Ford Motor Company (NYSE: F) was still up late in the day, but well off of highs. The US-auto maker was under a recall of 4.5 million vehicles over a faulty speed switch. Shares were up 0.8% at $7.68 ahead of the closing bell.

Goldman Sachs Group Inc. (NYSE: GS) was downgraded by Meredith Whitney ahead of Thursday's earnings report. Shares were down 1.5% at $187.35 ahead of the closing bell. That is surprising considering that her upgrade was worth nearly 3-times that.

UnitedHealth Group, Inc. (NASDAQ: UNH) was down on reports that Olympia Snowe is the one Republican on the panel voting in favor of a healthcare bill today. Despite no public options and despite her leaving an out for a vote in favor, UnitedHealth was down about 3.8% at $24.27 ahead of the closing bell.

RailAmerica Inc. (NYSE: RA) was a flop of an IPO. It priced at $15.00, at the low end of the range, and was a Fortress Investment Group LLC (NYSE: FIG) re-IPO that it took private in 2007. As the market is shunning these deals, shares were down at $13.87 ahead of the close.

Tags: ENER, energy conversion devices, EnergyConversionDevices, FIG, ITT, itt corporation, IttCorporation, RA, rail america, RailAmerica, UNH, unitedhealthgroup

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Last updated: November 25, 2009: 06:56 PM

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