Goldman Sacked, JNJ Disappoints, Stocks Mixed
Stocks traded in a narrow range today ending the session on a low note. Earnings optimism was dashed as Johnson & Johnson revealed disappointing third quarter sales. The mighty Goldman Sachs was sacked by noted banking analyst, Meredith Whitney who lowered her rating to “neutral” on the institution. The DJIA closed down -14.74 to 9871.06, the tech heavy Nasdaq managed to gain +0.75 to 2139.89, and the S&P 500 gave back -3.01 to 1073.18.
CIT Group
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PowerRating): Is talking bankruptcy again with the CEO resigning by the end of the year. Shares reacted by falling 11.69% or 12 cents to 92 cents.
Vistaprint
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PowerRating): Cut to “neutral” at Goldman Sachs sending shares lower by 3.05% or $1.52 to $48.32/share.
Goldman Sachs
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PowerRating): Ironically the mighty banker was cut to “neutral” by Meredith Whitney dropping 1.33% or $2.52 to $187.65.
Bank of America
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PowerRating): Fell 1.11% or 20 cents to $17.83/share after a Delaware judge didn’t dismiss a major shareholder lawsuit.
Gold advanced another $7.50 to $1065.00, oil climbed 88 cents to $74.29 and the VIX fear index fell 0.09% to 22.99.
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