Closing Bell: Another Wishy-Washy Day of Trading (MCO, MHP, CVX, ITMN, AIG, C, MU)

Posted Mar 10th 2010 4:00PM by Jon Ogg
Filed under: Citigroup Inc. (C), Chevron Corp (CVX), Amer Intl Group (AIG)

Today's market was described as another wishy-washy day where no directional feel was present because of fluctuations from positive to negative. The closing bell being positive or negative was something that was not certain until the end of the trading day. Unemployment rose in 30 states, but this was a January figure. The notion that February's deficit was a record hardly had any significant dent.

The unofficial closing bell levels were as follows:

Dow 10,565.67 +1.29 (0.01%)
S&P 500 1,145.57 +5.13 (0.45%)
Nasdaq 2,357.90 +17.22 (0.74%)

Top Analyst Calls

Chevron Corporation (CVX) was a drag on the market today on an analyst downgrade. Shares were down 0.7% at $73.78 late in the trading day.

Moody's Corporation (MCO) and The McGraw-Hill Companies, Inc. (MHP) were sued by the Connecticut Attorney General over faulty ratings agency ratings today. Moody's was down 1.2% at $27.20 and McGraw Hill was down 0.9% at $34.98 late in the trading day.

InterMune Inc. (ITMN) was the second best biotech, but technically it was the best because this company will continue on its own. Shares were up over 60% today after the FDA panel backed its lung drug.

American International Group, Inc. (AIG) had another solid trading day as shares were up over 8% at $35.50 before the closing bell.

Citigroup, Inc. (C) was up 3.4% at $3.95 late in today's trading on reports of a property unit sale and after its $2 billion preferred trust series was oversubscribed.

Micron Technology, Inc. (MU) shares were trading higher all day after a drop in short selling on the stock and as an analyst sees recovery in chips continuing. Shares were up almost 5% at $9.87 late in the trading day.

Tags: mcgraw-hill, micron technology, moodys