The unofficial closing bells put the DJIA down nearly 2 points to 12,983.02 (-0.01%), the NASDAQ rose more than 6 points (0.23%) to 2,963.75, and the S&P 500 rose 0.17% or more than 2 points to 1,365.74.
There were several analyst upgrades and downgrades today, including First Solar Inc. (NASDAQ: FSLR) cut to ‘neutral’ at Susquehanna; Monster Beverage Corp. (NASDAQ: MNST) reiterated as ‘Conviction Buy List’ and estimates raised at Goldman Sachs; Trina Solar Ltd. (NYSE: TSL) cut to ‘market perform’ at Wells Fargo and cut to ‘negative’ at Susquehanna; ARM Holdings plc (NASDAQ: ARMH) started as ‘overweight’ at Piper Jaffray; and Marriott International Inc. (NYSE: MAR) raised to ‘Conviction Buy List” at Goldman Sachs.
Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Allegheny Corp. (NYSE: Y) is up 4.4% at $315.72; Crocs Inc. (NASDAQ: CROX) is down -5.8% at $19.24 (more coverage here); Deckers Outdoor Corp. (NASDAQ: DECK) is down -14.2% at $77.39; Marvel Technology Group Ltd. (NASDAQ: MRVL) is down -3.7% at $15.46; Molycorp Inc. (NYSE: MCP) is down -7.9% at $26.80 (more coverage here); Superior Energy Services Inc. (NYSE: SPN) is down -1.8% at $29.92; Alpha Natural Resources Inc. (NYSE: ANR) is down -2.9% at $20.40 (more coverage here); J.C. Penney Co. Inc. (NYSE: JCP) is down -0.72% at $41.63; and Newmont Mining Corp. (NYSE: NEM) is down -2.3% at $62.32.
Other standouts from today include the following stocks:
Chelsea Therapeutics International Inc. (NASDAQ: CHTP) is up 61% at $3.88. The drug maker yesterday received an FDA panel approval for a drug to treat symptoms of Parkinson’s disease.
Bazaarvoice Inc. (NASDAQ: BV) is up about 37% at $16.40. Today is the social commerce site’s IPO and trading volume has topped 8.1 million on an original issue of about 9.5 million shares at $12/share. More coverage here and here.
Kenneth Cole Productions Inc. (NYSE: KCP) is up about 19% at $15.55 after posting a new 52-week high of $16.00 earlier. The apparel maker is being taken private at $15/share. More coverage here.
Rubicon Technology Inc. (NASDAQ: RBCN) is down nearly -19% at $9.87. The LED maker missed estimates and offered weak guidance for the current quarter.
Kindred Healthcare Inc. (NYSE: KND) is down nearly -15% at $10.66. The healthcare services company posted a loss last night and announced that it would not renew 7 of 10 master leases with Ventas Inc. (NYSE: VTR).
Stay tuned for Monday. We have noted the following events on the schedule (all times Eastern):
- 10:00 a.m. – Pending home sales index
- 10:30 a.m. – Dallas Fed manufacturing survey
- 11:30 a.m. – 3- and 6-month Treasury bill auction
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Have a great weekend!
Paul Ausick
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