Stock Market Recap: Oil Continues Upward with Help from a Weakening Dollar
Stocks ended the week with losses across the board. The DJIA giving up -120.90 points, the NASDAQ losing -5.71 and the S&P500 dropped -9.40 points.
57 companies reported earnings this week with 50% higher than expected, about 25% lower, and rest met expectations. 450 companies have reported earnings in total with 61% coming in higher than expected.
Priceline.com
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PowerRating) Jumped over 14% or 17.50 points to $141.31. Annual profits beat estimates by .65/share and international sales doubled.
Activision
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PowerRating) Climbed the most in 5 months today on the back of “Guitar Hero” sales and doubling profits. Shares climbed over $4.00 a share to $31.50.
Exxon
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PowerRating) – Dropped .48 to $89.05 on record oil prices and Nigerian concerns.
Freeport
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PowerRating) – The world’s 2nd largest copper producer lost 3.2% to 114.32, as copper suffers its 2nd straight week of losses.
Oil smashed through the 125 resistance level, hitting a high of 126.09 on a weaker than expected dollar and supply concerns.
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