Despite higher inflation data this morning and poor jobs data were overlooked. It wasn't even really based on earnings that the rally came on. Leading indicators and what appears to be European market intervention helped today. Even a false-terror scare from a deliberate plane crash in Austin into an IRS building was short-lived.Here were today's unofficial closing bell levels:
Dow 10,392.90 +83.66 (0.81%)
S&P 500 1,106.75 +7.24 (0.66%)
Nasdaq 2,241.71 +15.42 (0.69%)
Daimler AG (DAI) gave a detailed outlook for 2010, but on top of a loss it is slashing its dividend. The ADR was punished today with a drop of 4.7% at $42.91. The beatings continue at Toyota Motor Company (TM) as its shares were down 0.8% at $73.51 right before the close on added concerns of regulatory crackdowns as it now deals with Corolla steering issues.
SIRIUS XM (SIRI) ran yet again after the stock broke above the $1.00 mark yesterday. Shares were up 7.5% at $1.13 right before the closing bell.
Microsoft Corporation (MSFT) and Yahoo Inc. (YHOO) announced that its long pending search pact has been approved by the Department of Justice in the U.S. and been approved by the European Commission. Mr. Softie was up 1.3% at $28.96 and Yahoo! was up 0.5% at $15.52 right before the close.
Wal-Mart Stores, Inc. (WMT) beat earnings at $1.17 EPS vs. $1.12 estimates from Thomson Reuters, but that is where the good news stopped. Revenues were light, guidance was light again, and same store sales are running soft at best. Shares were down 1.1% at $53.47 late in the day, but that is up from lows of $52.91 today.
Xenoport, Inc. (NASDAQ: XNPT) was the worst performer of the day after the FDA denied approval of its Restless Leg Syndrome drug with GlaxSmithkline (NYSE: GSK). Xenoport shares were down 65% at $6.69 late in the day... today is a 52-week low.
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