AOL Money & Finance

Closing Bell: FOMC help & no help ( CMSCA, GRMN, PHM, JAVA, TWX)

More

Today was an odd trading day considering that the FOMC meeting seemed to command far less media time than in the past, but that was because no real changes in its stance were expected. And the FOMC made the pledge to keep rates low for extended periods.

There was also a mixed picture on ADP and Challenger jobs data ahead of tomorrow's weekly jobless claims and ahead of Friday's key unemployment data. Gold continued its run along with higher oil on weekly inventory data.

Here were the unofficial closing bell levels:

Dow 9,862.44 +90.53 (0.93%)
S&P 500 1,046.50 +1.09 (0.10%)
Nasdaq 2,055.52 -1.80 (-0.09%)

Top Day Trader Alerts
Top 10 Analyst Calls
Top Market Rumors

Comcast Corporation (NASDAQ: CMCSA) managed to beat earnings at $0.28 vs $0.25 estimates, but shares slid on subscriber metrics this morning and as revenue was in-line with estimates. No news was released on any deal with GE over NBC Universal. Shares were down 3% at $14.02.

Garmin Ltd. (NASDAQ: GRMN) was the disappointment of the day after it beat earnings estimates on the week after the Google Navigation launch. The company posted $1.02 EPS and $781 million in revenues with improved margins. Shares gapped higher but short sellers won as shares went down 14% to $26.69.

Sun Microsystems Inc. (NASDAQ: JAVA) may have another road block in the Oracle buyout as the EU is apparently listing formal objections. That is not an outright blockage and the shares did recovery handily off last night's lows when th stock was down almost 10%. Shares were off less than 1% at $8.32.

Pulte Homes Inc. (NYSE: PHM) was a huge surprise despite that the housing recovery might not be in the numbers yet. Its earnings were -$1.15 EPS rather than -0.89 estimates. Revenue was down 30% to $1.09 billion, also under the estimates of $1.23B as housing continues its transition toward more stable market conditions as lower prices and historically low mortgage rates are helping to support homebuyer demand. It also noted that challenges remain. Shares were up 4% at $9.60.

Time Warner Inc. (NYSE: TWX) was up and down throughout the day after the media giant beat its earnings projections. The company reported $0.61 EPS on $7.13 billion in revenues versus estimates of $0.53 EPS $7.08B. The company sees 2009 EPS around $2.05 or better versus consensus of $2.03. Shares were down 0.2% at $30.09.

Add your comments

Please keep your comments relevant to this blog entry. Email addresses are never displayed, but they are required to confirm your comments.

When you enter your name and email address, you'll be sent a link to confirm your comment, and a password. To leave another comment, just use that password.

To create a live link, simply type the URL (including http://) or email address and we will make it a live link for you. You can put up to 3 URLs in your comments. Line breaks and paragraphs are automatically converted — no need to use <p> or <br /> tags.

Symbol Lookup
IndexesChangePrice
DJIA-188.5610,275.84
NASDAQ-45.852,130.20
S&P 500-23.951,086.68

Last updated: November 27, 2009: 09:50 AM

BloggingStocks Exclusives

Hot Stocks

DailyFinance Headlines

Latest from BloggingBuyouts

TheFlyOnTheWall.com Headlines

BioHealth Investor Headlines

WalletPop Headlines

My Portfolios

Track your stocks here!

Find out why more people track their portfolios on AOL Money & Finance then anywhere else.

BloggingStocks Partners

More from AOL Money & Finance

WalletPop Headlines