Despite some very tame inflation reports, the housing data was deemed as a disappointment. Investors used today's early strength to sell stocks to lock in profits or to take at least some money off the table. Of the five DJIA components which reported earnings, the pre-earnings gains were astounding on most of them. Here were today's unofficial closing bell levels:
Dow 10,041.48 -50.71 (-0.50%)
S&P 500 1,091.07 -6.84 (-0.62%)
Nasdaq 2,163.47 -12.85 (-0.59%)
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Wendy's/Arby's Group, Inc. (NYSE: WEN) was hit hard today on an analyst downgrade over at UBS and as BofA/ML started coverage with a Neutral rating. Shares were down more than 6% at $4.32 late in the trading day.
ZST Digital Networks, Inc. (NASDAQ: ZSTN) was a low-float IPO which priced at $8.00 today and began trading. While shares hit as high as $8.44 at one point in the afternoon, the stock hit a low of $7.75 today and was back down close to $8.00 about 20 minutes before the closing bell. This one has just entered a troubled IPO market for the time being.
Fannie Mae (NYSE: FNM) probably feels as though yesterday's KBW downgrade was adding insult to injury. But the call for a zero value did major damage, particularly as KBW is one of the most esteemed boutique or specialty firms in the financial sector. Shares were down over 4% at $1.09 late in the trading session.
Apple Inc. (NASDAQ: AAPL) rose after blowing out earnings last night, but as noticed earlier, its all-time highs were acting as major resistance today. Shares were up almost 5% at $199.18 late in the day, but well under the $201.75 intra-day high.
Caterpillar Inc. (NYSE: CAT) also hit new 52-week highs after blowing out earnings this morning ($0.64 EPS vs. $0.06 estimates), but that was under the $61,28 high of the day. This one had already seen a monster run up from June 30 and from March 9, so much of the return in earnings was already anticipated by traders.
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Before the bell: Futures higher ahead of housing, jobless data
Reader Comments (Page 1 of 1)
10-20-2009 @ 6:16PM
Beltway Greg said...
Folks got hosed again today on Apple. Stole your shares didn't they.