Obama Taxes Wealthy, Dell’s Earnings Plummet, Health Care Declines
Stocks closed lower today after President Obama stated he would seek to increase taxes on the wealthiest Americans. Further suggestions of cutting payments to private insurance plans pushed the health care sector into negative territory on an overall lack luster session. Dell reported a 48% earnings loss in the fourth quarter after the close, capping the negative market sentiment. The DJIA dropped -88.81 to 7182.08, the Nasdaq gave back -33.96 to 1391.47 and the S&P 500 fell -12.07 to 752.83.
Aetna
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PowerRating) – Dropped 11.26% or $3.05 to $24.03 after President Obama suggested cutting payments to private insurers.
SLM Corp.
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PowerRating) – The largest student lender plummeted 30.87% or $2.59 to $5.80 upon President Obama stating he may cut student loan subsidies.
International Business Machines
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MetroPCS
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PowerRating) – A leading provider of cellular service without out contracts jumped 5.53% or 0.70 cents to $13.36/share after beating analysts profit estimates.
Oil climbed $2.72 to $44.42, Gold fell $23.60 to $942.60 and the VIX fear index fell 0.02% to 44.66.
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