The unofficial closing bells put the DJIA down more than 168 points to 13,038.04 (-1.28%), the NASDAQ fell nearly 68 points (-2.25%) to 2,956.34, and the S&P 500 fell -1.62% or more than 22 points to 1,369.09.
There were several analyst upgrades and downgrades today, including LinkedIn Corp. (NYSE: LNKD) target price raised to $140 at Susquehanna; FedEx Corp. (NYSE: FDX) raised to ‘strong buy’ at Raymond James; The Allstate Corp. (NYSE: ALL) raised to ‘overweight’ at Barclays; Red Hat Inc. (NYSE: RHT) started as ‘outperform’ at BMO; and Saks Inc. (NYSE: SKS) reiterated ‘buy’ and target price of $14 at Argus.
Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: First Solar Inc. (NASDAQ: FSLR) is down -6% at $16.98 after posting a new 52-week low of $16.80 earlier today (more solar coverage here); SunPower Corp. (NASDAQ: SPWR) is down -2.1% at $5.58; AES Corp. (NYSE: AES) is down -0.7% at $12.13 (more utilities coverage here); Duke Energy Corp. (NYSE: DUK) is up 0.9% at $21.60; Estée Lauder Companies Inc. (NYSE: EL) is down -5.8% at $60.44 (more coverage here); The Washington Post Co. (NYSE: WPO) is down -5.4% at $355.88; Exelon Corp. (NYSE: EXC) is down -0.7% at $38.54; and The Madison Square Garden Co. (NASDAQ: MSG) is up 3.7% at $37.87 after posting a new 52-week high of $38.38..
On Monday we get earnings from American States Water Co. (NYSE: AWR), Breitburn Energy Partners L.P. (NASDAQ: BBEP), Dendreon Corp. (NASDAQ: DNDN), Dish Network Corp. (NASDAQ: DISH), Louisiana Pacific Corp. (NYSE: LPX), Kid Brands Inc. (NYSE: KID), Jinkosolar Holding Co. Ltd. (NYSE: JKS), and Tyson Foods Inc. (NYSE: TSN).
Other standouts from today include the following stocks:
Einstein Noah Restaurant Group, Inc. (NASDAQ: BAGL) is up 19.9% at $16.84 after posting a new 52-week high of $17.68 earlier today. The bagel maker and restaurateur reported strong earnings and said it would begin to explore strategic options.
Dolby Laboratories Inc. (NYSE: DLB) is up 17.5% at $44.22. The company reported strong earnings and has signed a deal with Microsoft Corp. (NASDAQ: MSFT). More coverage here.
Body Central Corp. (NASDAQ: BODY) is down -47.8% at $15.11. The young women’s apparel seller reported poor earnings and forecast more of the same until at least back-to-school season.
Stay tuned for Monday. We have noted the following events on the schedule (all times Eastern):
- 11:30 a.m. – 3- and 6- month bill auction
- 3:00 p.m. – Consumer credit report
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Have a great weekend.
Paul Ausick
Contact [email protected] for any questions or corrections.
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