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A reading of +2.4% GDP is still growth. It is just not very robust growth. It is also as the argument continues of whether the U.S. is headed for a double-dip recession or just a period of slower growth. PIMCO's Bill Gross calls it a long protracted period of slow growth. Today was lighter than normal on the earnings news, and the final verdict over a green or red ticker at the close was not clear until the final minutes today. Here were the unofficial closing bell levels:
Dow Jones 10,465.94 -1.22 (-0.01%)
S&P 500 1,101.59 +0.06 (0.01%)
Nasdaq 2,254.70 +3.01 (0.13%)
Top Analyst Calls
McAfee, Inc. (MFE) differentiated itself from Symantec Corporation (SYMC) after the latter tanked yesterday. McAfee earnings beat expectations and the outlook was much more solid versus Symantec. McAfee shares were up 9% at $32.99 in the final minutes of Friday's trading.
TeleNav, Inc. (TNAV) became one of the worst IPOs of 2010. It was not the earnings nor the formal guidance. The company said that its largest customer is renegotiating a deal and any new arrangement would bring about lower revenue per user. Shares were down almost 39% at $5.45 late in the day.
Alcatel-Lucent (ALU) managed to rally after earnings. That is unheard of from any recent trends from the company. While it posted yet another loss, it did maintain its annual outlook. That had shares trading up a sharp 15% at $2.99 on triple-normal volume right before the closing bell.
Kellogg Company (K) recovered much of yesterday's post-earnings losses after Citigroup reiterated a buy rating on the stock after yesterday's lower guidance took out close to 10% of its share price. Kellogg shares were up 4.4% at $50.08 in the final minutes before the close.
Berkshire Hathaway Inc. (BRK-A) was hardly phased after reports that Li Lu, a Chinese hedge-fund manager, could be one heir-apparent for Warren Buffett. This is actually the best performing conglomerate of 2010. Shares were up 0.5% at $117,500 shortly before the closing bell.
Research-in-Motion (RIMM) was higher today ahead of a new product release and after it expanded its Apps development program. Shares were up over 3% at $57.58 going into the closing bell ahead of the weekend.
Merck & Co., Inc. (MRK) may have posted a slightly better than expected earnings number, but a 52% drop in profits and some lackluster guidance failed to win the hearts of any new investors today. Shares were down 1.6% at $34.50 right before the closing bell.
TeleNav, Inc. (TNAV) became one of the worst IPOs of 2010. It was not the earnings nor the formal guidance. The company said that its largest customer is renegotiating a deal and any new arrangement would bring about lower revenue per user. Shares were down almost 39% at $5.45 late in the day.
Alcatel-Lucent (ALU) managed to rally after earnings. That is unheard of from any recent trends from the company. While it posted yet another loss, it did maintain its annual outlook. That had shares trading up a sharp 15% at $2.99 on triple-normal volume right before the closing bell.
Kellogg Company (K) recovered much of yesterday's post-earnings losses after Citigroup reiterated a buy rating on the stock after yesterday's lower guidance took out close to 10% of its share price. Kellogg shares were up 4.4% at $50.08 in the final minutes before the close.
Berkshire Hathaway Inc. (BRK-A) was hardly phased after reports that Li Lu, a Chinese hedge-fund manager, could be one heir-apparent for Warren Buffett. This is actually the best performing conglomerate of 2010. Shares were up 0.5% at $117,500 shortly before the closing bell.
Research-in-Motion (RIMM) was higher today ahead of a new product release and after it expanded its Apps development program. Shares were up over 3% at $57.58 going into the closing bell ahead of the weekend.
Merck & Co., Inc. (MRK) may have posted a slightly better than expected earnings number, but a 52% drop in profits and some lackluster guidance failed to win the hearts of any new investors today. Shares were down 1.6% at $34.50 right before the closing bell.
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