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Closing Bell: Options and index re-balance aid bulls (ARNA, AMR, PALM, SIRI, VVUS)

Today was one of those days where many traders looked like and acted like they wanted to just lock in gains after what was the first full week for many traders in about three weeks. Yet shares stayed strong. Options expiration dates and a S&P rebalance brought in some added volatility and money managers are now scared to tell their clients that they are not all-in on stocks. So while markets were up most of the day, the real closing bell with all of today's events was something that felt as though it would be down to the wire.

Here were today's unofficial closing bell levels:

Dow 9,819.52 +35.60 (0.36%)
S&P 500 1,068.26 +2.77 (0.26%)
Nasdaq 2,132.86 +6.11 (0.29%)

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Continue reading Closing Bell: Options and index re-balance aid bulls (ARNA, AMR, PALM, SIRI, VVUS)

Closing Bell: Forget the tape, biotechs and others move big

Today was indicative of another mixed day for equities, and other markets were mixed as well. We saw a sharp rise in bond yields due to a more hawkish fear from Wall Street about the FOMC rather than the wider than expected trade deficit reported this month. Oils closed down again on increased production today, although we still sit north of $130/barrel. Here are the unofficial closes of major US index levels:
  • DJIA 12286.18 (+5.86)
  • S&P500 1358.10 (-3.66)
  • NASDAQ 2448.94 (-10.52)
  • 10YR T-NOTE 4.099% (+0.107%)
  • Top 10 Analyst Calls
There were also many biotech stocks today (ACHN, CRXL, MNKD, SQNM, CYTR, CYTX, INGN, ATHX, MITI, GTOP) which saw mystery moves to the downside on either not big news or as a follow-on trading move after news from the last few days.

American Superconductor Corp. (NASDAQ: AMSC) saw a sharp rise and shares were up almost 20% to $43.25 in the final minutes of trading today. The company secured a follow-on order today from China worth more than two-year's worth of revenues for the company.

Continue reading Closing Bell: Forget the tape, biotechs and others move big

Analyst initiations 4-18-07: EBAY, CA, CAH, CKR & FIRE initiated today

MOST NOTEWORTHY: CKE Restaurants (CKR), Cardinal Health (CAH), eBay (EBAY) and CA Inc (CA) topped today's noteworthy initiation list today:
  • Nollenberger believes the Hardee's franchise is entering a period of accelerated growth and initiated shares of CKE Restaurants (NYSE: CKR) with a Buy rating and $27 target.
  • Goldman views Cardinal Health (NYSE: CAH) as a as a high quality, focused franchise with strong fundamental outlook driven by margin expansion and improvements in non-drug wholesale businesses and restructuring efforts, reinstating its Buy rating on the company.
  • American Technology initiated eBAY Inc (NASDAQ: EBAY) with a Buy rating and $43 target, believing the company is the top play on growth of U.S. e-commerce and they expect upside to numbers tonight.
  • Needham believes CA Inc (NYSE: CA) Inc remains in transition as it continues to work on the repackaging of its vast product array into five solution sets and started the company with a Hold rating.
OTHER INITIATIONS:
  • Roth Capital initiated shares of Vivus Inc (NASDAQ: VVUS) with a Buy rating and $15 target.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Symbol Lookup
IndexesChangePrice
DJIA+30.6910,464.40
NASDAQ+6.872,176.05
S&P 500+4.981,110.63

Last updated: November 26, 2009: 05:21 PM

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