All Time High Deficit, Stocks Sink, Dollar Gains Strength
The waves of positive news skidded to a stop on this final trading day of the week. Word of the U.S. deficit hitting an all time high of $1.42 billion and disappointing earnings from General Electric and Bank of America stopped the bull advance in its tracks. The U.S. dollar benefited as the Greenback advanced for the first time in 5 days as negative sentiment maxed out. The DJIA dropped -67.03 to 9995.91, the Nasdaq fell -16.49 to 2156.80 and the broad based S&P 500 gave back -8.88 to 1087.68.
International Business Machines
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PowerRating): Fell 4.95% or $6.34 to $121.64/share after reporting a decline in signed service contracts.
MGIC Investments
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PowerRating): The U.S. largest mortgage insurer dropped 12.30% or 90 cents to $6.42/share after reporting its 9th straight quarterly loss.
China Real Estate Information
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CRIC |
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PowerRating): Soared 18.33% or $2.20 to $14.20/share in its first day of trading.
Citizens First Corp
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PowerRating): Surged an amazing 91.20% or $3.42 to $7.17/share after stating another banks purchase of options was a hostile takeover action.
Oil added 95 cents to $78.72, gold gained 90 cents to $1052.00 and surprisingly the VIX fell 1.34% to 21.43.
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