Stocks Drop Again, General Motors Leads Losers, BUD Jumps
U.S. stock indexes dropped again today adding to the largest one-week decline since February. Housing and oil concerns took center stage driving the market lower. The DJIA lost 145.99 points, dropping to 12479.63. The Nasdaq got slammed 19.91 points to 2444.67, and the S&P 500 suffered a 18.42-point pull back, ending the session at 1375.93.
Anheuser-Busch
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PowerRating) surged 7.76% climbing $4.08 to $56.66 per share on a report it may receive a bid of $46 billion from a buyout offer from InBev NV.
General Motors
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PowerRating) ened the day down 4.50% or $0.83 to $17.60 per share leading the dow lower due to pledging funds to help end a worker’s strike at a supplier.
Darden’s Restaurants
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PowerRating) fell 4.43% or $1.47 to $31.74 per share on the drop in consumer confidence.
Foot Locker
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PowerRating) added 12.08% or $1.46 to $13.54 per share after reaffirming profit forecast beating analyst’s 2009 projections.
Oil climbed $1.02 to $131.83 per barrel. Gold jumped $7.50 to $980 per ounce. The VIX spiked 1.50 to 19.55.
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