Closing Bell: A Jobs and Trade Deficit Victory (AIG, C, TEAR, SNV, CLNE)

Posted Mar 11th 2010 4:20PM by Jon Ogg
Filed under: Citigroup Inc. (C), Amer Intl Group (AIG)

A final hour of a rally put the market back in positive territory. But overall this was yet another day where the real close was not clear until the final minutes. The trade deficit was a non-event and the weekly jobless claims were a very slight improvement by 6,000 to 462,000 for the week. Even Senator Dodd going alone on a financial reform bill didn't hurt the markets.

Here were today's unofficial closing bell levels:

Dow 10,611.84 +44.51 (0.42%)
S&P 500 1,150.23 +4.62 (0.40%)
Nasdaq 2,368.46 +9.51 (0.40%)

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American International Group, Inc. (AIG) caught a good old case of trader exhaustion. Shares gapped up and were up another 5% this morning but that did not hold. In the final minutes of the day Mr. Benmosche and friends saw AIG down 1.3% at $35.77 on 41 million shares.

Citigroup Inc. (C) held its own on reports that it is potentially going to raise billions via continued asset sales. Shares were up 4% at $4.12 on over 1 billion shares.

OccuLogix Inc. (TEAR) was up all day after it announced that TLCVision Corporation will be incorporating the TearLab Osmolarity System in eight of its surgery centers. Shares had been up 45% earlier on but the stock was up 20% at $3.35 in the last minutes of the day.

Synovus Financial Corp. (SNV) rose all day based upon profitability and increased its outlook for credit conditions. Shares were up 11% at $3.22.

Clean Energy Fuels Corp. (CLNE) was up with T. Boone Pickens cheering the way. Northland Securities upgrading it after posted narrower losses and has hopes for more nat-gas converted autos. Shares were up 15% at $22.34 late in the day.

Tags: benmosche, occulogix, synovus financial, SynovusFinancial, t. boone pickens, tlcvision