Despite another negative housing market reading and despite a Moody's downgrade of Ireland, U.S. stocks managed to hold on to the gains after a poor 261 point loss on Friday. Today's gains were a welcome sign considering that the huge drop on Friday could have set a reversal of fortune after so many days of gains. Here were today's unofficial closing bell levels:
Dow 10,154.43 +56.53 (0.56%)
S&P 500 1,071.25 +6.37 (0.60%)
Nasdaq 2,198.23 +19.18 (0.88%)
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Apollo Group Inc. (APOL) was another mystery gainer today. There is still a circulating hope that Washington D.C. reform in the for-profit education sector will not be as bad as some originally feared. Shares were up over 5% at $48.00 right before the closing bell.
BP plc (BP) saw profit taking hit the ADR today after more government pressure, and after the well cap has had some leaking but not a free flowing oil spill. The ADR was down almost 4% at $35.66 shortly before the close.
SandRidge Energy, Inc. (SD) did not get a warm reception for its first trading day since its Arena Resources buyout finally closed. This is one that had been touted last week as a safety net with limited downside by Jim Cramer. Shares were down 3.5% at $6.35 right before the closing bell.
The Bank of Ireland (IRE) was weak today after Moody's cut the rating of Ireland by one notch to Aa2. Shares were down 3.1% at $3.48 right before the closing bell.
VIVUS Inc. (VVUS) had another bad day after last week's FDA decision recommending against Qnexa for weight loss. Interestingly enough, there were one-sided speculative Call Option bets made today in case the company gets its controversial pill approved. Shares were down 8% at $4.98 right before the closing bell.
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