Home Prices Gain, Stocks Slip, Sears Suffers Suit
Profit takers took control of a lack luster stock market today. Positive news of climbing home prices was inexplicitly counteracted by falling consumer confidence figures. Retailer Sear Roebuck suffered a record $6 million dollar judgment as a result of an Americans with Disabilities bias suit. Stocks danced near breakeven prior to the final hour selling which pushed the indexes solidly into the negative territory. The DJIA fell -47.16 to 9742.20, the tech heavy Nasdaq slipped -6.70 to 2124.04 and the broad based S&P 500 gave back -2.37 to 1060.61.
Astrotech
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PowerRating): soared an amazing 156.64% or $1.89 to $3.09/share after announcing it may sell the company that specializes in satellite launch prep services.
Walgreen
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PowerRating): Climbed 9.24% or $3.16 to $37.35/share upon beating analysts fourth quarter estimates.
MBIA Inc
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PowerRating): Fell 4.74% or 39 cents to $7.83/share after having its credit rating cut to “BB-” by Standard & Poor’s.
Lamar Advertising
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PowerRating): The billboard king advanced 6.64% or $1.69 to $27.16/share after being upgraded to “overweight” by Barclays.
Oil gave back 13 cents to $66.68, gold fell another 30 cents to $994.40 and the VIX index added 1.25% to 25.19.
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