Jittery Indexes Relinquish Moderate Gains
The major indexes gave up moderate morning gains, following yesterday’s
disastrous session, which saw the biggest mortgage lender in the country lose
30% of its share value. Traders are focused on the upcoming earnings season,
which looks to be bleak, and U.S. economic numbers, also expected to highlight
economic weakness.
DuPont
(
DD |
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PowerRating) rallied 4.6% on Wednesday morning, after raising its
earnings outlook for 2007 and profit forecast for 2008 (full
story).
Apollo
(
APOL |
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News |
PowerRating) rallied 10.6% after reporting Q1 earnings results
which exceeded analyst expectations (full
story).
Alliance Technologies
(
ATK |
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PowerRating) fell 5.8% after announcing plans to
purchase the space and radar business of a Canadian firm for $1.32 billion (full
story).
Helen of Troy
(
HELE |
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PowerRating) fell 11.6% on Wednesday despite beating Q3
profit expectations. The company reduced its full-revenue forecast for 2008 (full
story).
Countrywide Financial
(
CFC |
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News |
PowerRating) continued to fall after yesterday’s
blowout. CFC shares were trading lower by 7.7%.
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