Markets Close Up, Foreclosures Soar, Financial Sector Slumps
Indexes closed positive today across the board, in a lack luster session, on stronger than expected home sales and consumer sentiment beating expectations. The DJIA climbed +21.41 to 11370.69, the Nasdaq bounced +30.42 to 2310.53 and the S&P 500 advanced +5.22 to 1257.76.
General Electric
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PowerRating) climbed .14% or $0.04 to $28.75 and announced a complete restructuring of the company.
Ryland Group
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PowerRating) fell 3.92% or $0.84 to $20.59 after exceeding analysts estimates for second quarter loss for the home builder.
Washington Mutual
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PowerRating) dropped 4.71% or $0.19 to $3.84 after Piper Jafrey advised selling.
Citibank
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PowerRating) gave back 1.10% or $0.21 to $18.85/share after Bill Gross speculated that the housing pull back will cost banks over one trillion.
Gold climbed $4.00 to $926.80, oil added $0.97 to $125.41 and natural gas slipped $0.48 to $9.31.
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