Housing Let Down, Stocks Sink, Dollar Gains Traction
A spate of positive earnings was not enough to keep the bull run going for the session. A worse than expected housing starts report and a stronger dollar brought the stock market bears to the forefront. The DJIA gave back -50.71 to 10041.48, the Nasdaq fell -12.85 to 2163.47 and the broad based S&P 500 dropped -6.85 to 1091.06.
Pulte Homes
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PowerRating): Fell 5% or 53 cents to $10.08/share after the government report indicated that housing may be slowing.
Boeing
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PowerRating): Dropped 2.92% or $1.56 to $51.89/share upon Morgan Stanley advised to sell.
Lockheed Martin
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PowerRating): Sunk 6.49% or $5.00 to $71.99/share after its 2010 forecast missed estimates despite outperforming in the third quarter.
Boston Scientific
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PowerRating): A downgrade by Wells Fargo sent shares lower by 15.65% or $1.59 to $8.57.
Oil fell 52 cents to $79.09, gold gave back 50 cents to $1059.00 and the VIX index gave back 2.75% to 20.90.
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