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Closing Bell: Sideways Monday Goes Red (AAPL, BGP, BKS, CBRX, MCP, PFE, GLD, STP)

Ben Bernanke's explanation and defense, or lack thereof to many, about his version of QE2, managed to dominate many key themes today. Gold was hitting fresh highs and European woes were discounted again. We are seeing the risk trade come in full force, although many of the sectors were soft. Late-day selling in the DJIA and S&P500 made for a close in the red, but this was close to red and black for most of the afternoon session after a fairly weak open.

Here are today's unofficial closing bell levels:

Dow Jones 11,362.19 -19.90 (-0.17%)
S&P 500 1,223.12 -1.59 (-0.13%)
Nasdaq 2,594.92 +3.46 (0.13%)

Top Analyst Calls

Continue reading Closing Bell: Sideways Monday Goes Red (AAPL, BGP, BKS, CBRX, MCP, PFE, GLD, STP)

Analyst initiations: Evergreen Solar, Myriad Genetics, Columbia Laboratories

MOST NOTEWORTHY: Evergreen Solar, Myriad Genetics and Columbia Laboratories were today's noteworthy initiations:

  • Kaufman Bros. believes Evergreen Solar (NASDAQ: ESLR) is well-positioned to take advantage of a decline in raw material costs because it makes its own wafers on its own equipment. The firm started shares with a Buy rating and $18 target.
  • Myriad Genetics (NASDAQ: MYGN) was initiated at RBC Capital with an Underperform rating and $37 target and expects negative Phase III results for Flurizan when data is presented in June.
  • Caris believes Columbia Laboratories (NASDAQ: CBRX) has two potential high value treatments, one to prevent preterm birth and the other to treat primary dysmenorrhea. Shares were initiated with a Buy rating and $11 target.

OTHER INITIATIONS:

  • McDermott (NYSE: MDR) was initiated with a Buy rating and $70 target at KeyBanc.
  • Morgan Stanley assumed Canon (NYSE: CAJ) with an Overweight rating.
  • Polaris Industries (NYSE: PII) was initiated at William Blair with a Market Perform rating.

Symbol Lookup
IndexesChangePrice
DJIA+35.8712,837.10
NASDAQ+17.072,920.95
S&P 500+4.891,347.53

Last updated: February 13, 2012: 10:47 AM

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