Closing Bell: The Bulls Start Taking Cover (AIG, ACAS, CAL, GRMN, ITMN, MPEL)

Posted May 5th 2010 4:20PM by Jon Ogg
Filed under: Amer Intl Group (AIG), Contl Airlines'B' (CAL), Garmin Ltd (GRMN)

Protests and riots in Greece continued as the country's financial situation remained on the edge of the abyss. It seems that even a $144 billion aid package isn't going to be enough to calm the skeptics.

Here were today's closing bell levels:

Dow 10,866.83 -59.94 (-0.55%)
S&P 500 1,165.87 -7.73 (-0.66%)
Nasdaq 2,402.29 -21.96 (-0.91%)

Top Analyst Calls

American International Group, Inc. (AIG) was down only about 1% today at $37.83 right before the close after UK regulators said that they wanted more information before approving a huge stock offering from Prudential plc to buy AIG's Asian assets.

American Capital, Ltd. (ACAS) beat earnings and disclosed that its net asset value was $8.98, versus $8.29 a year ago, and versus the $6.09 close yesterday. Shares were up 4% at $6.32 right before the close.

Continental Airlines, Inc. (CAL) was down about 3% at $19.88 after an even worse day yesterday before the closing bell as investors decided that the airline mergers create a lower franchise value.

Garmin Ltd. (GRMN) was lower after a disappointing quarterly report. This might have you wondering if there should have been a warning before this. Shares were down 10% at $33.87 right before the closing bell.

InterMune Inc. (ITMN) was the day's biggest loser after the FDA denied its lung drug another trial. Shares were down 75% at $11.27 right before the close, although the stock was as low as $9.00 last night.

Melco Crown Entertainment Limited (MPEL) was down 9% at $4.14 right before the close. You can thank a Goldman Sachs sell rating for this one.

Tags: ACAS, AIG, airlines, american capital, CAL, gps, GRMN, intermune, ITMN, melco crown entertainment, MPEL