Closing Bell: When Bulls Eat Crow (BIDU, GOOG, C, MU, POT, BA)


Was today added concern over the G-20 causing longer-term slower growth? Or was it failing consumer confidence? It started out as the G-20, and then it was added to by the latter. The markets saw significant selling pressure, and the biggest concern now is that Friday's unemployment and non-Farm payrolls data will be even worse than expected.

Here were today's unofficial closing bell levels:

DJIA
S&P
NASDAQ

Winners on a Bad Day

Baidu, Inc. (BIDU) was a real pig of an internet stock. The stock was down about 9% at $67.75 right before the close on news that Google, Inc. (GOOG) is trying to modify some of its China policies. The problem with this is that the market made gains nearly impossible. Google was down over 4% at $452.00 in the final minutes before the market closed.

Citigroup, Inc. (C) trading was briefly halted as its stock had a trade error report, triggering a downward halt momentarily. The damage was done, with or without a likely Fin-Reg passage this week. Shares were down 7% at $3.72 right before the closing bell.

Micron Technology, Inc. (MU) shares took it right on the chin despite a good enough earnings report on the surface. Shares were down over 13% at $8.66 right before the closing bell.

Potash Corp. of Saskatchewan, Inc. (POT) was lower after a research downgrade. Shares were down 4.4% at $87.78 right before the closing bell.

The Boeing Company (BA) looks to be the biggest loser of the DJIA components today. With a Middle East order of Dreamliner jets now reportedly coming under question due to the aircraft leasing markets, this is hardly a shock. Boeing was down 6.5% at $62.95 right before the closing bell.

And no closing bell would be complete without a BP plc (BP) update. It was one of the very few winners. Shares were up 2.3% right before the close. Maybe Hayward really will leave....
Symbol Lookup
IndexesChangePrice
DJIA-80.4115,307.17
NASDAQ-38.823,463.30
S&P 500-13.811,655.35

Last updated: May 22, 2013: 08:12 PM

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