The U.S. dollar index fell today, now down 0.05% at 79.317. The GSCI commodity index is up 2.5% at 665.19, with commodities prices mostly lower today. WTI crude oil closed down 2% today, at $89.88 a barrel. Brent crude trades down 0.6% at $111.90 a barrel. Natural gas is down 0.35% today to $3.394 per thousand cubic feet. Gold closed at $1,780.80 an ounce, down 0.9%.
The unofficial closing bells put the DJIA up nearly 35 points to 13,610.22 (0.26%), the NASDAQ fell more than 13 points (-0.42%) to 3,136.19, and the S&P 500 fell -0.03% or less than 1 point to 1,460.92.
There were several analyst upgrades and downgrades today, including Hewlett-Packard Co. (NYSE: HPQ) cut to ‘hold’ at Argus and cut to ‘neutral’ at Sterne Agee; Home Depot Inc. (NYSE: HD) reiterated as buy and target raised to $68 at Argus; Cabot Oil & Gas Corp. (NYSE: COG) reiterated as ‘buy’ and target price raised to $80 at Canaccord Genuity; Family Dollar Stores Inc. (NYSE: FDO) started as ‘outperform’ with a target price of $81 at Credit Suisse; and Brocade Communications Systems Inc. (NASDAQ: BRCD) started as ‘neutral’ at Sterne Agee.
Earnings reports since markets closed last night resulted in some price moves today, including these as of the last half hour of trading: Constellation Brands Inc. (NYSE: STZ) is up 3.6% at $35.98 after posting a new 52-week high of $36.50 earlier today (more coverage here).
There are no earnings reports of note due before markets open on Monday. Our look at earnings due next week includes Alcoa Inc. (NYSE: AA) and Yum! Brands Inc. (NYSE: YUM) on Tuesday, plus Costco Wholesale Corp. (NASDAQ: COST), Safeway Inc. (NYSE: SWY), and a couple of big banks later in the week.
Some standouts from today include the following stocks:
Zynga Inc. (NASDAQ: ZNGA) is down 13.3% at $2.45 after posting a new 52-week low of $2.21 earlier today. The social gaming company lowered its quarterly forecast last night and the stock was pummeled today. More coverage here.
First Solar Inc. (NASDAQ: FSLR) is down 10.6% at $20.16. The solar panel maker got a downgrade today due to a potentially long-term warranty problem. More coverage here.
Cell Therapeutics Inc. (NASDAQ: CTIC) is down 25.5% at $1.51 after posting a new 52-week low of $1.42 earlier today. The biopharma company announced a secondary stock offering today. More coverage here.
Groupon Inc. (NASDAQ: GRPN) is up 9.2% at $5.24. The daily deals company had no news, but then the good news is that Groupon is not Zynga. More coverage here.
Monday is a federal holiday. U.S. banks and bond markets are closed, but equity markets will be open. No data releases are scheduled for Monday.
Have a great weekend!
Paul Ausick
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