Closing Bell: When a Loss Is a Loss (MT, MSO, CPKI, DJSP, APL, EK)

Posted Jul 28th 2010 4:30PM by Jon Ogg
Filed under: Eastman Kodak (EK), Calif Pizza Kitchen (CPKI)

Yesterday was a mixed day, and today was just a down day. Durable goods were a disappointment in negative territory. Earnings were mixed. The negative bias of the Fed's Beige Book coincides with the sell-off at 2:00 PM but this still just brings in the notion that there is going to be a slow recovery, rather than any massive double-dip recession.

Here are today's unofficial closing bell levels:

Dow Jones 10,497.88 -39.81 (-0.38%)
S&P 500 1,106.13 -7.71 (-0.69%)
Nasdaq 2,264.56 -23.69 (-1.04%)

ArcelorMittal (MT) was lower all day after the largest steel producer warned with earnings that it is not seeing a second-half demand increase. Not even from China. Shares were down 3% at $31.05 right before the closing bell.

Martha Stewart Living Omnimedia (MSO) did not live up to hopes for earnings and guidance. Shares were down 11% at $5.08 right before the closing bell.

California Pizza Kitchen Inc. (CPKI) was a standout winner on a down day as word was out that a private equity firm is about to bid on the troubled pizza and restaurant chain. Shares were up 9% at $18.31 on active trading.

DJSP Enterprises, Inc. (DJSP) was a top loser after disclosing the situation after its Timios buyout closed. Shares were down 20% at $3,82 at the close.

Atlas Pipeline Partners (APL) was a huge winner after selling off some assets for more than $500 million. Its sahres were up 31% at $16.21 at the close.

Eastman Kodak Company (EK) had a wider loss than expected and shares were hit hard. The stock was down 15% at $4.18 right at the close.

Tags: APL, CPKI, DJSP, EK, MT, restaurants, timios