Closing Bell: No economic help today (CBST, AMZN, ABK, BAC, HUN, DD, STEM, STI)


The weekly jobless claims set the tone for a positive day, but the Obama speech comments today may have set the tone for a slightly worse unemployment reading tomorrow. Harsh comments against Ben Bernanke at his reconfirmation hearing also dominated the news today. We also saw a very weak ISM services number. Everything led investors to take profits before tomorrow's key unemployment data.

Here were today's unofficial closing bell levels:

Dow 10,437.64 -15.04 (-0.14%)
S&P 500 1,099.92 -9.32 (-0.84%)
Nasdaq 2,173.14 -11.89 (-0.54%)

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Key analyst upgrades

Cubist Pharmaceuticals (CBST) was winner despite caution from it halting a stop-bleeding trial enrollment over safety concerns. But an analyst upgrade soothed the fears here. Shares were up over 3% at $17.85 at the end of the day.

Amazon.com, Inc. (AMZN) had a volatile day after Cramer touted it with a $214 target. But a reality check look on the forward valuations, from yours truly, may have highlighted at least some of the cautions out there for this one after it has risen 50% in six weeks. Shares were down 0.75% at $141.18 right before the close.

Ambac Financial (ABK) managed to hold on to the gains after an S&P corporate credit rating upgrade, despite the rating still being deep-junk at "CC" and not promising. Shares were up almost 10% at $0.89 before the close.

Bank of America (BAC) remained positive today despite the potentially large dilution heading the way of holders. This is from the securities sale that will be used to repay the TARP immediately, and the pricing may be this evening. Shares were up 0.7% at $15.76 before the close.

Huntsman Corporation (HUN) was up on buyout rumors, with DuPont as the 'rumored buyer.' Shares were up over 3% at $10.26 late in the day, but shares had been up almost 10% earlier in the day.

StemCells Inc. (
STEM) had no news but gave back much of yesterday's gains from the NIH stem cell line approvals. Shares were off by 12% at $1.31 late in the trading day on 10-times normal volume.

SunTrust Banks (STI) took it on the chin as shares dropped 4% at $22.35 before the closing bell. Meredith Whitney issued a sell rating on the company.

Jon Ogg is a partner and editor of 24/7 Wall St.
Symbol Lookup
IndexesChangePrice
DJIA+28.6112,912.56
NASDAQ+12.502,928.36
S&P 500+3.801,353.76

Last updated: February 09, 2012: 02:05 PM

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