The unofficial closing bells put the DJIA down nearly 65 points to 13,199.55 (-0,49%), the NASDAQ fell more than 6 points (-0.20%) to 3,113.57, and the S&P 500 fell -0.41% or nearly 6 points to 1,413.29.
There were several analyst upgrades and downgrades today, including Apple Inc. (NASDAQ: AAPL) started as buy at Auriga and target raised to $715 at Morgan Stanley; Express Scripts Inc. (NASDAQ: ESRX) started as ‘overweight’ at JPMorgan; Goldcorp Inc. (NYSE: GG) started as ‘neutral’ at Citigroup; Netflix Inc. (NASDAQ: NFLX) cut to ‘equal weight’ at Barclays; and Schlumberger Ltd. (NYSE: SLB) raised to ‘buy’ at Sterne Agee.
Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Comverse Technology Inc. (NASDAQ: CMVT) is down -6.4% at $6.41; International Speedway Corp (NASDAQ: ISCA) is down -0.14% at $28.31; and Frisch’s Restaurants Inc. (AMEX: FRS) is down -0.04% at $27.29. After markets close today we get earnings from Team Inc. (NYSE: TISI) and Mitcham Industries Inc. (NASDAQ: MIND) markets. Before markets open tomorrow we’ll get earnings from Monsanto Co. (NYSE: MON) and Acuity Brands Inc. (NYSE: AYI).
Other standouts from today include the following stocks:
SmartHeat Inc. (NASDAQ: HEAT) is up 93% at $5.29. The Chinese maker of heat exchangers reported weak earnings, but promised to cut costs and do better. More coverage here.
First Solar Inc. (NASDAQ: FSLR) is down about -8% at $22.56 after posting a new 52-week low of $22.42 earlier today. The solar panel maker is simply dying a slow death. More coverage here.
Vringo Inc. (AMEX: VRNG) is up 5.8% at $3.28 after posting a new 52-week high of $4.05 earlier today. The ringtone company is merging with a patent protection firm and this is the second day in a row that shares have posted a new high. Here’s our story from yesterday.
A123 Systems Inc. (NASDAQ: AONE) is down more than -16% at $0.85, the second consecutive day for the shares to put up a new 52-week low. The battery maker is still getting walloped over a recall and its relationship with Fisker Automotive. Here’s our story from yesterday.
Merge Healthcare Inc. (NASDAQ: MRGE) is down more than -16% at $4.95. The healthcare kiosk provider has agreed to sell $2.75 million worth of kiosks to a company controlled by Merge’s chairman.
Conn’s Inc. (NASDAQ: CONN) is up about 14.5% at $18.88 after posting a new 52-week high of $19.75. The regional electronics retailer busted through earnings expectations.
Stay tuned for Wednesday. San Francisco Fed President John Williams is giving a speech. We have also noted the following events on the schedule (all times Eastern):
- 7:00 a.m. – Mortgage Bankers’ Association purchase applications
- 7:30 a.m. – Challenger Gray & Christmas layoff report
- 8:15 a.m. – ADP employment report
- 10:00 a.m. – Institute for Supply Management non-manufacturing index
- 10:30 a.m. – EIA weekly petroleum status report
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Paul Ausick
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