Stocks Jump, Wyeth Sold, Home Sales Surprise
The stock market surged today on a positive home sales figure, optimism over Pfizer buying out Wyeth, and rising leading economic indicators. The DJIA surged intraday prior to pulling back, closing up +38.47 to 8116.03, the tech heavy Nasdaq was pulled along for the ride, ending the day up +12.17 to 1489.46 and the broad based market barometer S&P 500 added +4.62 to 836.57.
Caterpillar
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PowerRating) rained on the optimistic day with cuts in its 2009 profit forecast. The stock closed down 8.41% or $3.00 to $32.66/share.
Ford
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PowerRating) continued its recently winning ways climbing 8.33% or 0.15 cents to $1.95 after stating no monthly decline in sales is expected.
Sovereign
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PowerRating) climbed 4.65% or 0.10 cents to $2.25/share after announcing an expected profit of $750 million by 2011.
Home Depot
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PowerRating) added 4.56% or 0.99 cents to $22.71/share upon announcing job cuts, store closures, and other cost cutting measures.
Oil fell 0.74 cents to $45.66, gold added $13.00 to $910.70 and the fear index VIX dipped 3.34% to 45.69.
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