Closing Bell: Traders Put The Risk Back On (MSFT, LNG, OXGN, ARST, HPQ, GENZ, SNY, PCG)

Posted Sep 13th 2010 5:20PM by Jon Ogg
Filed under: Microsoft (MSFT), PG and E Corporation (PCG)

Today was another up day, mostly thanks to the new Basel III banking accords showing that most banks are actually not in need of fresh capital any time in the immediate future. We also saw Warren Buffett refute that there is a double-dip recession and we also had a slightly less-atrocious August Treasury deficit than expected. This was a day where traders began putting back on the risk trade.

Here were today's closing bell levels:

DJIA
S&P500
NASDAQ

Microsoft Corporation (MSFT) rallied at the end of the trading day after word spread that it was going to issue debt to fund a large dividend or share buyback. Shares were up over 55 at $25.11.

Cheniere Energy, Inc. (LNG) was a winner after Jim Cramer touted it as being an approved company to sell natural gas to the world after a decision last week. Shares rose 8.6% to $2.89.

Oxigene Inc. (OXGN) was up almost 15% at $0.31 after positive thyroid cancer data. This one had been by nearly 50% at the start of the day.

ArcSight Inc. (ARST) was a large winner with a 25% gain to $43.91 after Hewlett Packard (HPQ) agreed to acquire the company.

Genzyme Corporation (GENZ) was lower by 0.7% at $70.29 after the company sold off its genetics testing business, which is a divesting strategy that could debunk its Sanofi-Aventis (SNY) offer.

PG&E Corporation (PCG) managed to come all the way back from being down 2% more earlier after its natural gas pipeline explosion. Shares closed up 0.11% at $44.26 after a low of $43.17 today.

Tags: ARST, GENZ, HPQ, MSFT, OXGN, PCG, SNY