Major Indexes Close Lower After Choppy Session
The major indexes closed a choppy session moderately lower. Stocks opened the
day with a jump, but fell as traders sold stocks on bad news from Intel and an
overall negative market atmosphere. The markets then sold off again, following a
mid-day bounce in the Dow Industrials.
JP Morgan Chase
(
JPM |
Quote |
Chart |
News |
PowerRating) rallied 6.5% today after announcing a
Q4 writedown that was less than expected (full
story).
Intel
(
INTC |
Quote |
Chart |
News |
PowerRating) fell 12.2%, after reporting Q1 sales that
just missed earnings estimates (full
story).
Sun Microsystems
(
JAVA |
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News |
PowerRating) rallied 3.9% after announcing plans to buy
software company MySQL Ab for around $1 billion, and reporting that last
quarter’s profit exceeded expectations (full
story).
Mattel
(
MAT |
Quote |
Chart |
News |
PowerRating) rallied 8.2% after an upgrade.
Gold prices and crude futures both plummeted today on concerns for the global
economy. Crude fell just over 1%, while gold fell more than 2%.
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