Stocks Surge, Retailers Lead Advances, Rimm Rockets On New Blackberry, Oil Falls
Blackberry, Oil Falls
US Stock Indexes surged today lead by Retailers and good news in financials. The Dow climbed +130.43 points ending at 12876.31, The S&P500 increased +15.30 points to 1,403.58, and the NASDAQ added +42.96 to 2,488.48. Financials benefited from Europe’s biggest bank HSBC Holdings set aside 3.2 billion to cover bad US loans.
Ann Taylor Stores
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PowerRating) – surged over 16% climbing 3.94 points to 28.49 on exceeding analyst estimates of profits.
Wal Mart
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PowerRating) – the world’s largest retailer jumped .86 to 58.04 on the back of analyst suggestions of increased earnings being released tomorrow.
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.
Research in Motion
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PowerRating) – experienced its largest gain in 3 months and led the NASDAQ 100 higher after announcing a new BlackBerry PDA phone device to compete with the Apple
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PowerRating) iPhone.
Cable Vision Systems
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PowerRating) – Dropped .48 to 24.49 after agreeing to buy 97% of the News Day Newspaper from Tribune Company.
Oil hit an all time record intraday, prior to pulling back closing down on the day at 124.20.
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