Markets Rally Fizzles

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Major indexes close the day up fractionally;
Friday’s sell off failed to carry over into the new week, as investors responded
positively to earnings from Ford. 

Crude futures closed down fractionally despite
continuing tensions in oil-producing countries Iran and Nigeria.

Gold prices rose almost $5 today as the dollar
continues to show weakness against the Euro.

US Supreme Court denied
Research in Motion’s
(
RIMM |
Quote |
Chart |
News |
PowerRating) appeal in a patent dispute with NTP
Inc.  The decision, which could force RIMM to pull their BlackBerry
products off the shelves, led to RIMM closing down 3.5% for the day. 
RIMM’s

(PowerRating).

Ford
(
F |
Quote |
Chart |
News |
PowerRating) beat
expectations and announced restructuring plans; F closed up 5% on the news. 
F’s

(PowerRating).

Nike
(
NKE |
Quote |
Chart |
News |
PowerRating)
stock price fell as much as 3.2% after CEO William Perez resigns, citing
conflicts with chairman and co-founder Philip Knight.  NKE’s

(PowerRating).

href=”https://tradingmarkets.com.site/news/Stock%20Alert/”>Stocks On The
Move

Bank Of America
(
BAC |
Quote |
Chart |
News |
PowerRating)
Q4 EPS Edges Down, Misses Consensus On Higher Provision Expense And Lower
Trading Results (full
story).

NIKE
(
NKE |
Quote |
Chart |
News |
PowerRating) CEO
Resigns Over Differences Regarding Leadership; Names Mark Parker As CEO (full
story).

Ford
(
F |
Quote |
Chart |
News |
PowerRating) To Idle
14 Facilities, Cut 25,000 To 30,000 Jobs By 2012 (full
story).

Polo Ralph
(
RL |
Quote |
Chart |
News |
PowerRating)
To Buy Back Polo Jeans From Jones Apparel For $355 Mln; Settles Outstanding
Litigation (full
story).

Sports Authority
(
TSA |
Quote |
Chart |
News |
PowerRating)
Agrees To Be Acquired For $1.3 Bln By Leonard Green & Partners Led Group (full
story).

Pilgrim’s Pride
(
PPC |
Quote |
Chart |
News |
PowerRating)
Q1 Profit Plummets 88.72% On Lower Price Realizations And Weaker Sales (full
story).

Grocer Albertson’s
(
ABS |
Quote |
Chart |
News |
PowerRating) Sells Itself To A Consortium For $17.4 Bln (full
story).

href=”https://tradingmarkets.com.site/news/Economic%20News/”>Economic
News

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