The unofficial closing bells put the DJIA down nearly 24 points to 12,395.87 (-0.19%), the NASDAQ fell about 10 points (-0.35%) to 2,827.34, and the S&P 500 fell -0.22% or nearly 3 points to 1,310.46.
There were several analyst upgrades and downgrades today, including Coinstar Inc. (NASDAQ: CSTR) raised to ‘buy’ with a price target of $71 at Canaccord Genuity; Ariba Inc. (NASDAQ: ARBA) and Sycamore Networks Inc. (NASDAQ: SCMR) both cut to ‘sell’ at Argus; Cliffs Natural Resources Inc. (NYSE: CLF) raised to ‘buy’ at BofA/ML; and OmniVision Technologies Inc. (NASDAQ: OVTI) raised to ‘overweight’ with a target price of $21 at JPMorgan.
Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Ciena Corp. (NASDAQ: CIEN)is up 14.7% at $13.62; Joy Global Inc. (NYSE: JOY) is down -4.6% at $56.17; and Movado Group Inc. (NYSE: MOV) is down -1.7% at $27.98.
On Thursday, we are scheduled to get earnings reports from China Ming Yang Wind Power Group Ltd. (NYSE: MY) and Modine Manufacturing Co. (NYSE: MOD) among others.
Other standouts from today include the following stocks:
Sirius XM Radio Inc. (NASDAQ: SIRI) is up about 1% at $1.91. Liberty Media Corp. (NASDAQ: LMCA) is trying to gain control of the satellite radio company. More coverage here.
A123 Systems Inc. (NASDAQ: AONE) is down -6.1% at $1.07. The lithium-ion battery maker has filed a “going concern” notice with the SEC. More coverage here.
Endeavor International Corp. (NYSE: END) is up 71% at $10.04. The oil & gas producer increased its interest in a producing North Sea field. Our coverage here.
Stay tuned for Friday. We have noted the following events on the schedule for tomorrow (all times Eastern):
- 8:30 a.m. – Non-farm payroll report
- 8:30 a.m. – Personal income and spending report
- 9:00 a.m. – PMI manufacturing index
- 10:00 a.m. – ISM manufacturing index
- 10:00 a.m. – Construction spending
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Paul Ausick
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