Stocks Sink, Oracle Misses, Treasuries Higher
The multi-day rally squealed to a stop today with the major indexes slipping slightly into negative territory by the close. Financial stocks led the decline with software maker Oracle missing earning estimates adding to the sell off. Treasuries rallied on a labor report indicating that the recovery may be slower than expected. The DJIA slipped -7.79 to 9783.92, the tech heavy Nasdaq dipped -6.40 to 2126.75 and the broad based S&P 500 fell -3.27 to 1065.49.
AMR Corp
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PowerRating): The mother of American Airlines soared 19.73% or $1.45 to $8.80/share after the airline stated that it raised billions in cash and will expand its network.
Lockheed Martin
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PowerRating): Climbed 4.46% or $3.40 to $79.56 upon learning that the company may profit with President Obama’s change of plans for a missile defense system.
Oracle
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PowerRating): Missed analysts estimates sending shares lower by 2.76% or 61 cents to $21.52.
Herman Miller
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PowerRating): The top of the line office chair maker dropped 8.83% or $1.69 to $17.46 after stating fiscal first quarter profit dropped.
Oil added 4 cent to $72.49, gold fell $6.70 to 1014.00 and the VIX fear index fell 0.17% to 23.65.
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