The unofficial closing bells put the DJIA down about 2 points to 12,291.73 (-0.02%), the NASDAQ rose more than 6 points (0.25%) to 2,625.20, and the S&P 500 rose 0.01% or less than 1 point to 1,265.47.
There were several analyst upgrades and downgrades today, including VMWare Inc. (NYSE: VMW) raised to ‘outperform’ at Oppenheimer; Yahoo! Inc. (NASDAQ: YHOO) maintained ‘buy’ with a price target of $18 at BofA/Merrill Lynch; Sony Corp. (NYSE: SNE) Japanese target price cut by Barclays; Electronic Arts Inc. (NASDAQ: EA) maintained ‘buy’ with a $28 price target at BofA/Merrill Lynch; and Sempra Energy Inc. (NYSE: SRE) reiterated as ‘buy’ with a $61 target price at Argus. Delphi Automotive (NYSE: DLPH) received four ratings this morning: initiated as ‘outperform’ at Credit Suisse; started as ‘buy’ at BofA/Merrill Lynch; started as ‘overweight’ at JPMorgan; and started as ‘outperform’ at R.W. Baird.
Here are today’s post-earnings news reactions with prices during the last half-hour of trading: Cal-Maine Foods Inc. (NASDAQ: CALM) is up nearly 5% at $35.84; and DemandTec, Inc. (NASDAQ: DMAN), which is being acquired by IBM Corp. (NYSE: IBM), is down about -0.04% at $13.13. This is the beginning of a very light week for earnings.
Other standouts from today include the following stocks:
Sears Holding Co. (NASDAQ: SHLD) is down about -26% at $33.95, a new 52-week low. The department store has announced that it will miss its previous earnings forecast by at least 50% and that it will close another 100-120 stores. See more coverage here and here.
Computer Sciences Corp. (NYSE: CSC) is down more than -9% at $24.06. The technology and IT services company has said it may have to take a $1.5 billion writedown on a UK contract. More coverage here.
Parlux Fragrances Inc. (NASDAQ: PARL) is up more than 72% at $5.98, after posting a new 52-week high this morning of $6.60. The perfume maker is being acquired by Perfumania Holdings Inc. (NASDAQ: PERF) for about $170 million.
Whirlpool Corp. (NYSE: WHR) is down more than -8% at $46.95. The appliance maker, which makes products for Sears, is caught in that company’s dismal announcement.
Magnum Hunter Resources Corp. (NYSE: MHR) is up nearly 19% at $5.54. The oil & gas producer has raised its production estimate from 10,000 barrels/day of oil equivalent to 12,500 barrels/day.
Stay tuned for Wednesday. Here are the noteworthy events on the schedule (all times Eastern):
7:00 a.m. – Mortgage Bankers Association purchase applications
11:30 a.m. – Four-week T-bill auction
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Paul Ausick
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