Stocks Mixed, Earnings Letdown, Obama Insists
Stocks closed mixed today on poor earnings results and weak growth in the service sector. Pfizer and Ryder Systems led the pack of poor results while the ISM service index missed estimates adding to the bearish tone. President Obama reiterated his support of the near failing health care reform and banking regulations further increasing economic uncertainty. The DJIA fell -26.30 to 10270.55, the Nasdaq eased higher by +0.85 to 2190.91 and the S&P 500 slipped -6.04 to 1097.28.
^APKT^: Jumped higher by 27.37% or $2.92 to $13.59/share after forecasting 2010 profits that beat analysts estimates.
^BGP^: Surged 38.30% or 36 cents to $1.30/share upon billionaire investor William Ackman telling CNBC that it’s more attractive than its competitor.
^PFE^: Led the DJIA lower falling 2.31% or 44 cents to $18.62/share after missing analysts projections.
^TM^: Fell 6% or $4.69 to $73.49/share due to major defects and a Goldman Sachs downgrade.
Oil dropped 27 cents to $76.96, gold fell $5.60 to $1112.30 and the VIX index added 0.56% to 21.60.
| Market Snapshot | |||||||||||||||
|
| Economic News |
|||
|