Stocks Battle Back, Technology Hurt, Unemployment Spikes
A great closing for the bulls despite continued bad news on the economic front. Unemployment spiked up to 8.1%, the highest level since 1984 and negative words about Apple depressed stocks for most of the day. However, the final 30 minutes of trade saw a strong bounce in the indexes. The DJIA ended the day up +32.50 to 6626.94, the Nasdaq didn’t quite make it to break even finishing down -5.74 to 1293.85 and the broad based S&P 500 added +0.83 to 683.38.
AnnTaylor Stores
(
ANN |
Quote |
Chart |
News |
PowerRating) – Led the Russell 1000 lower crashing 37.73% or $2.10 to $3.45/share reported a larger than expected fiscal 4th quarter loss and drew down half of its credit facility.
ArcSight
(
ARST |
Quote |
Chart |
News |
PowerRating) – Surged 29.92% or $2.55 to $11.36/share after the computer security firm said it would crush analysts estimates by over 40%.
General Motors
(
GM |
Quote |
Chart |
News |
PowerRating) – Furthered its losses by falling 22.04% or 0.41 cents to $1.45/share after stating it would lose $1 billion due to Saab’s bankruptcy.
Rohm Haas
(
ROH |
Quote |
Chart |
News |
PowerRating) – Reignited merger talks with Dow Chemical propelling shares higher by 18.13% or $9.79 to $63.80.
Oil added $1.91 to $45.83, Gold eased ahead $14.90 to $939.90 and the VIX fear index gave back 1.67% to 49.33.
| Market Snapshot | |||||||||||||
|
| Economic News |
|||
|