All 3 Majors Dipped; Earnings Reports Hurt A Diverse Range of Stocks
Technology and banking stocks led the charge downward today as earnings reports from a diverse group of companies hurt stock values. An estimated and healthy 1.65 billion shares were traded on The Big Board today.
Continuing worries about OPEC members Iran and Nigeria sent oil prices up; NYMEX Crude Future is currently @ $66.74 per barrel. Energy companies gained as a result of the day's surging oil prices. Exxon-Mobil added $0.57 to close @ $61.54 per share, while ConocoPhillips added $3.53 to close @ $64.29 per share.
The worst performer in The Dow Jones Industrial Average today was AIG, which fell by $1.01 to close @ $69.04 per share. The clouds appear to be getting darker in the skies above AIG: a possible $1 billion settlement is still in the works, and now an Insurance Information Institute report predicts that an outbreak of avian flu would probably cost the insurance industry as much as $133 billion.
The bidding war between Johnson & Johnson and Boston Scientific for Guidant rages on. Boston Scientific has countered a $71 per share offer made by Johnson & Johnson with an offer of $80 per share. Guidant gained a healthy $5.38 today to close @ $76.22 per share, while shares in Johnson & Johnson lost $0.54 to close @ $61.28, and Boston Scientific fell by $1.30 to close @ $23.90.
BioCryst Pharmaceuticals added $3.37 to close @ $22.41 per share. The company's experimental flu drug has been given fast track status by the FDA; the new flu drug may be effective against numerous strains of the flu, including--you guessed it--the bird flu that's now causing serious problems in Asia.
Shares in Yahoo! fell by $4.91 (12%) to @ $35.20 per share in after-hours trading this evening.
After-hours trading also led to Intel losing $2.35 to $23.17 per share.
IBM fell by $0.80 to close @ $82.20 per share.
U.S. Bancorp fell by $0.56 to close @ $30.03 per share.
Wells Fargo fell by $0.65 to close @ $62.60 per share.
Axle manufacturer Dana Corporation fell by $1.40 (21%) to close @ $5.40 per share.
Today's Numbers:
DJIA: Closed Down @ 10,896.32 (-63.55)
NASDAQ: Closed Down @ 2,302.69 (-14.35)
S&P 500: Closed Down @ 1,282.93 (-4.68)
----------------------------------------------------------
NYMEX Crude Oil Future is currently $66.78/barrel
New York Spot Gold closed down @ $553.00/ounce
Currently, The U.S. Dollar buys 0.8266 Euros
Currently, The Euro buys 1.2098 U.S. Dollars
Continuing worries about OPEC members Iran and Nigeria sent oil prices up; NYMEX Crude Future is currently @ $66.74 per barrel. Energy companies gained as a result of the day's surging oil prices. Exxon-Mobil added $0.57 to close @ $61.54 per share, while ConocoPhillips added $3.53 to close @ $64.29 per share.
The worst performer in The Dow Jones Industrial Average today was AIG, which fell by $1.01 to close @ $69.04 per share. The clouds appear to be getting darker in the skies above AIG: a possible $1 billion settlement is still in the works, and now an Insurance Information Institute report predicts that an outbreak of avian flu would probably cost the insurance industry as much as $133 billion.
The bidding war between Johnson & Johnson and Boston Scientific for Guidant rages on. Boston Scientific has countered a $71 per share offer made by Johnson & Johnson with an offer of $80 per share. Guidant gained a healthy $5.38 today to close @ $76.22 per share, while shares in Johnson & Johnson lost $0.54 to close @ $61.28, and Boston Scientific fell by $1.30 to close @ $23.90.
BioCryst Pharmaceuticals added $3.37 to close @ $22.41 per share. The company's experimental flu drug has been given fast track status by the FDA; the new flu drug may be effective against numerous strains of the flu, including--you guessed it--the bird flu that's now causing serious problems in Asia.
Shares in Yahoo! fell by $4.91 (12%) to @ $35.20 per share in after-hours trading this evening.
After-hours trading also led to Intel losing $2.35 to $23.17 per share.
IBM fell by $0.80 to close @ $82.20 per share.
U.S. Bancorp fell by $0.56 to close @ $30.03 per share.
Wells Fargo fell by $0.65 to close @ $62.60 per share.
Axle manufacturer Dana Corporation fell by $1.40 (21%) to close @ $5.40 per share.
Today's Numbers:
DJIA: Closed Down @ 10,896.32 (-63.55)
NASDAQ: Closed Down @ 2,302.69 (-14.35)
S&P 500: Closed Down @ 1,282.93 (-4.68)
----------------------------------------------------------
NYMEX Crude Oil Future is currently $66.78/barrel
New York Spot Gold closed down @ $553.00/ounce
Currently, The U.S. Dollar buys 0.8266 Euros
Currently, The Euro buys 1.2098 U.S. Dollars
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posted by Steve Brown | 1/17/2006 07:36:00 PM
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