Major Indexes Fighting an Uphill Battle
The major indexes have recovered some early morning losses to trade mixed,
but mostly 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 Dow
has recovered all losses to trade flat, while the S&P is slightly lower and the
Nasdaq is trading significantly lower.
JP Morgan Chase
(
JPM |
Quote |
Chart |
News |
PowerRating) rallied close to 4% today after announcing a
Q4 writedown that was less than expected (full
story).
Intel
(
INTC |
Quote |
Chart |
News |
PowerRating) fell as much as 13%, after reporting Q1 sales that
just missed earnings estimates (full
story).
Sun Microsystems
(
JAVA |
Quote |
Chart |
News |
PowerRating) rallied 6% 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 just under 7% after an upgrade.
Gold prices and crude futures both plummeted today on concerns for the global
economy. Both gold and crude fell more than 2% during morning trading.
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