Today was all about much better than expected GDP reports. The lackluster jobless claims failed to even make a ripple after the GDP marked an unofficial end of the recession. The market absorbed over $500 million in secondary offerings like it was a stick of butter being put on a giant baked potato. Here were today's unofficial closing bell levels:
Dow 9,960.54 +197.85 (2.03%)
S&P 500 1,065.81 +23.18 (2.22%)
Nasdaq 2,097.55 +37.94 (1.84%)
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Procter & Gamble (NYSE: PG) was a runner along with the market today. The company posted a 1% drop in profit to $3.35 billion with $1.06 EPS. Sales were off 6% to $19.8 billion, but the earnings were above estimates and revenues were in-line, mostly. Shares were up 3.9% at $59.47 late in the day.
Human Genome Sciences, Inc. (NASDAQ: HGSI) was a screamer to new 52-week highs today on a JPMorgan upgrade ahead of key lupus drug study data next week. There was also very strong options trading in the name. Shares were up 13% at $20.38 late in the day but hit a 52-week high of $20.62.
First Solar Inc. (NASDAQ: FSLR) was hit hard enough today that that you'd think the market was back to market-crash watch. This stock was down 15% at $128.00 late in the trading day before the closing bell.
American Superconductor Corporation (NASDAQ: AMSC) was one of today's top percentage gainers after beating earnings and raising guidance. Shares were up a sharp 23% at $25.60 late in the trading session.
Transcept Pharmaceuticals, Inc. (NASDAQ: TSPT) was today's biggest loser after its experimental sleep drug was denied approval and more data was requested that will require more tests. This is a normally very low volume stock that is now near its old cash value, but was down over 48% at $5.91 late in the trading day.
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