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Closing Bell: Right Down to the Wire! (APC, DARA, GM, MBI, XING, WEBM)

Tiring is how you'd explain the next to last trading session of 2010. The markets whipped around all day. A huge regional business spending gain in Chicago and the first sub-400,000 weekly jobless claims failed to give us any further runaway days. That was despite also having a positive housing figure.

After less than a handful of red S&P closes in December, the markets were soft most of the day and a late-day rally made the red or black verdict for the market something one couldn't predict until right at the close.

Here were today's closing bell levels:

Dow Jones 11,569.71 -15.67 (-0.14%)
S&P 500 1,257.88 -1.90 (-0.15%)
Nasdaq 2,662.98 -3.95 (-0.15%)

Continue reading Closing Bell: Right Down to the Wire! (APC, DARA, GM, MBI, XING, WEBM)

Analyst downgrades 5-11-07: AMGN, ICE, RTP and WEN

MOST NOTEWORTHY: Amgen (AMGN), Wendy's (WEN), webMethods (WEBM), Global Crossing (GLBC) and International Securities Exchange (ISE) topped out today's noteworthy downgrades:
  • A host of companies shot down Amgen Inc (NASDAQ: AMGN) today:
    • Lazard cut the drugmaker to Sell from Buy while Citigroup cut them to Sell from Hold. JP Morgan and HSBC downgraded Amgen to Neutral from Overweight while Morgan Stanley cut shares to Equal-Weight from Overweight.
  • Elsewhere, Wendy's Int'l (NYSE: WEN) was downgraded by Citigroup to Hold from Buy on valuation.
  • Deutsche Bank cut shares of webMethods Inc (NASDAQ: WEBM) to Hold from Buy as they expect the software AG merger to go through.
  • Global Crossing (NASDAQ: GLBC) was downgraded to Hold from Buy at Deutsche Bank following the company's Q1 miss and revised guidance.
  • The International Securities Exchange (NYSE: ICE) was downgraded at Banc of America given potential risks to the Eurex bid. They are not counting on rival bids and recommend moving to the sidelines...
OTHER DOWNGRADES:
  • HSBC downgraded Rio Tinto (NYSE: RTP) to Neutral from Overweight.
  • Morgan Stanley downgraded King Pharma (NYSE: KG) to Equal Weight from Overweight. Pacific
Analyst summaries provided by TheFlyOnTheWall.com (subscription required)

Symbol Lookup
IndexesChangePrice
DJIA-89.2312,801.23
NASDAQ-23.352,903.88
S&P 500-9.311,342.64

Last updated: February 11, 2012: 03:32 AM

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