Stocks Bounce Back, Ford Falls, Employment Reports Optimistic
US Stock Indexes closed higher across the board on a lower than expected employment, ending three days of losses. The DJIA closed up by +24.43 to 12,625.62, the S&P 500 added +3.64 to 1,394.35, and the NASDAQ climbed +16.31 to 2,464.58.
Ford
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PowerRating) lost 8.65% or .69 cents/share to $7.12. It announced that it expected to break even later than expected in 2009 due to rising costs and fuel bills.
Dick’s Sporting Goods
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PowerRating) gave back 19.54% falling $5.16/share after forecasting lower than expected annual profits.
First Marblehead Corp.
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PowerRating) added 31.88% climbing .95 cents/share to $3.94 after analyst upgrade to “perform”.
Encore Acquisition
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PowerRating) – The oil and gas producer climbed 3.25% or $2.08/share after hiring Lehman as financial advisor on a sale or merger.
Oil gave back $2.62 to $130.55, Gold fell $10.30 to $918.30 and the VIX gave back 2.90% to 18.05.
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