This was a strange day with a half-participation as bonds and many government offices were closed due to this being the Veterans Day holiday. Stocks were up all day and this works out to be six straight days of a rally in the DJIA. We had no economic news to digest and here are today's unofficial closing bell levels:Dow: 10,291.10 +44.13 (0.43%)
S &P: 1,098.52, +5.51 (0.50%)
Nasdaq: 2,166.90, +15.82 (0.74%)
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AIG (AIG) could have a key vacancy open at the firm. Its new CEO Benmosche has expressed to its board of directors that he may step down over frustration of working under the government and over salary restrictions. This would not be welcome as he is deemed one of the few who can run that show. A late day memo from the company said he is committed and the press is over pay for those at the company. Shares were 'only' down 0.7% at $37.30 right before the close.
Regeneron Pharmaceuticals Inc. (REGN) rose sharply on a multi-year pact expansion where Sonofi-Aventis increased its commitment. While it depends upon conditions, this is almost a $1 billion total pact that will be broken up annually from now to 2017. Shares were up almost 20% at $18.83 right before the close.
Macy's Inc. (M) had a narrower loss in the last quarter of $35 million, or -$0.08 EPS; but outside of items its earnings were -$0.03 EPS. Revenues were down over 3% to $5.28 billion. Thomson Reuters had estimates at -$0.07 EPS and $5.25 billion in revenues. It raised guidance, but the guidance was under estimates and there are valuation concerns. Shares were down over 7% at $17.92 late right before the close.
Motorola (MOT) is seeking buyers for its Home & Networks division according to WSJ today. Shares were already up 200% from lows of the last year, but shares were down 1.3% at $8.73 right before the close.
Palm (PALM) rose today because of a benefit from a key analyst call. Shares were up over 8% at $11.96.
Research-in-Motion (RIMM) was a partial winner today after Wal-Mart announced it would offer out $100 gift certificates to its store for those who signed up for two-year contracts and bought a Blackberry model. Shares were up almost 2% at $64.79 ahead of the close.
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