The unofficial closing bells put the DJIA up more than 6 points to 13,239.06 (0.05%), the NASDAQ rose more than 23 points (0.75%) to 3,078.32, and the S&P 500 rose 0.40% or nearly 6 points to 1,409.75.
There were several analyst upgrades and downgrades today, including Arch Coal Inc. (NYSE: ACI) cut to ‘sell’ at Goldman Sachs; Capital One Financial Corp. (NYSE: COF) raised to ‘buy’ at Jefferies; Gap Inc. (NYSE: GPS) raised to ‘outperform’ at BMO; Sprint Nextel Corp. (NYSE: S) cut to ‘underperform’ at Bernstein; and United Parcel Service (NYSE: UPS) raised to ‘overweight’ at JPMorgan.
Earnings reports since markets closed last Friday have led to some price changes as of the last half hour of trading today: Hastings Entertainment Inc. (NASDAQ: HAST) is down -XX% at $XX; and InterOil Corp. (NYSE: IOC) is down -XX% at $XX. After markets close today Adobe Systems Inc. (NASDAQ: ADBE) and Focus Media Holding Ltd. (NASDAQ: FMCN) are scheduled to report earnings.
Other standouts from today include the following stocks:
LDK Solar Co. Ltd. (NYSE: LDK) is down more than 5% at $4.64. The Chinese solar maker lowered estimates for the fourth quarter and issued soft estimates for 2012. More coverage here.
QR Energy Inc. (NYSE: QRE) is up more than 4% at $23.27. The oil & gas upstream company announced an acquisition this morning. More coverage here.
Ampio Pharmaceuticals Inc. (NASDAQ: AMPE) is up nearly 42% at $3.80. The drug firm reported good results on new drug to treat macular disease. More coverage here.
Ceres Inc. (NASDAQ: CERE) is up more than 15% at $17.52 after posting a new post-IPO high of $18.70 earlier today. More coverage here.
Stay tuned for Tuesday. Federal Reserve Chairman Ben Bernanke and Minneapolis Fed President Naryana Kocherlakota are giving a speeches. We have also noted the following events on the schedule (all times Eastern):
- 8:30 a.m. – Housing starts
- 11:30 a.m. – 4-week bill auction
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Paul Ausick
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