The unofficial closing bells put the DJIA up about 125 points to 12,294.68 (1.03%), the NASDAQ rose more than 19 points (0.74%) to 2,618.64, and the S&P 500 rose 0.9% or more than 11 points to 1,265.31.
There were several analyst upgrades and downgrades today, including American Eagle Outfitters Inc. (NYSE: AEO) cut from ‘buy’ to ‘hold’ at Standpoint Research; RAM Energy Resources Inc. (NYSE: RAM) raised from ‘market perform’ to ‘outperform’ at Rodman; Trius Therapeutics Inc. (NASDAQ: TSRX) started as ‘outperform’ at Robert W. Baird; Walgreen Co. (NYSE: WAG) maintained as ‘hold’ with a lowered price target of $36 at Jefferies; and Scana Corp. (NYSE: SCG) maintained as ‘buy’ with raised price target of $43 at Wunderlich.
Here are today’s post-earnings news reactions with prices during the last half-hour of trading: Bioanalytical Systems Inc. (NASDAQ: BASI) is up more than 15% at $1.60 and CalAmp Corp. (NASDAQ: CAMP) is down more than -19% at $4.13. All told a light day for earnings reports.
Other standouts from today include the following stocks:
RAM Energy Resources Inc. (NASDAQ: RAM) is up nearly 21% at $2.43. The independent oil & gas company continues its run from yesterday, when if finished up more than 70% on news of re-listing on Nasdaq and a $550 million private equity investment.
North American Energy Partners Inc. (NYSE: NOA) is up more than 33% at $6.98. The oil field services company will resume its contract with Canadian Natural Resources Ltd. (NYSE: CNQ) pending a final contract signing.
First Acceptance Corp. (NYSE: FAC) is up nearly 33% at $1.36. A director of the insurance company bought 200,000 shares on Wednesday.
PHH Corp. (NYSE: PHH) is down more than -5% at $10.53. The mortgage servicer’s credit ratings were cut yesterday at S&P and the fallout continues.
Mead Johnson Nutrition Co. (NYSE: MJN) is down about -5.5% at $64.97. The food processing company had its Enfamil infant formula recalled at Wal-Mart Stores Inc. (NYSE: WMT) yesterday, and Walgreen’s, Safeway, Kroger, and Supervalu stores followed today.
Shutterfly Inc. (NASDAQ: SFLY) is down nearly -5% at $23.89. The Internet photo site cut its fourth-quarter guidance this morning.
Markets are closed Monday, December 26. Stay tuned for Tuesday. Here are the noteworthy events on the schedule (all times Eastern):
- 9:00 a.m. – S&P Case-Shiller housing price index
- 10:00 a.m. – Conference Board consumer sentiment index
- 10:00 a.m. – State Street investor confidence index
Have a Merry Christmas Day and great weekend.
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Paul Ausick
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