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Markets can't run up every day forever. Eight of Nine days in a row turned out to be enough and the bears at least got to have one small winning day. We had no real economic news today and profit taking and concerns about Greece took more of the stage than an ongoing bull market which was getting long in the tooth. Here were today's unofficial closing bell levels:
Dow 10,741.98 -37.19 (-0.35%)
S&P 500 1,159.90 -5.92 (-0.51%)
Nasdaq 2,374.41 -16.87 (-0.71%)
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AP Pharma Inc. (APPA) was hit extremely hard today after the FDA complete response letter failed to back its anti-nausea chemotherapy drug. Shares closed down 41% at $1.21 on about 50-times normal volume.
Netlist Inc. (NLST) announced a secondary offering that was raised in size and this new float added pressure to the stock. Shares closed down 5.6% at $3.99, although not on as much trading volume as might have been expected during its exponential run-up.
Aetna, Inc. (AET) gave guidance that was very favorable, particularly when you consider that the healthcare vote is this weekend. Shares closed unofficially up 3.5% at $34.40 today.
Palm, Inc. (PALM) was the biggest loser after a poor earnings report, poor guidance, and poor phone metrics. This one closed down unofficially at $4.00 for a 29% drop on the day. Mark that a new year low close and it even hit a low of $3.96 after an analyst said its true value was ZERO.
IDT Corp. (IDT) has been the subject of various rumors this week and the company said it refuses to comment on market rumors. The stock closed up 14% at $7.50 on the day.
Netlist Inc. (NLST) announced a secondary offering that was raised in size and this new float added pressure to the stock. Shares closed down 5.6% at $3.99, although not on as much trading volume as might have been expected during its exponential run-up.
Aetna, Inc. (AET) gave guidance that was very favorable, particularly when you consider that the healthcare vote is this weekend. Shares closed unofficially up 3.5% at $34.40 today.
Palm, Inc. (PALM) was the biggest loser after a poor earnings report, poor guidance, and poor phone metrics. This one closed down unofficially at $4.00 for a 29% drop on the day. Mark that a new year low close and it even hit a low of $3.96 after an analyst said its true value was ZERO.
IDT Corp. (IDT) has been the subject of various rumors this week and the company said it refuses to comment on market rumors. The stock closed up 14% at $7.50 on the day.
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