Seeking Alpha
Profile| Send Message|
( followers)  

4:24 PM, Jun 29, 2009 --

  • NYSE up 55.54 (0.9%) to 5,962.50.
  • DJIA up 90.46 (1.1%) to 8,529.3.
  • S&P 500 up 8.32 (0.9%) to 927.22.
  • Nasdaq up 8.8 (0.3%) to 1,844.


  • Hang Seng down 0.39%
  • Nikkei down 0.95%
  • FTSE up 1.45%


(+) JAVA gained as DoJ extends inquiry into Oracle deal.

(+) SVA got revised approval for flu vaccine in China.

(+) AIS and TEVA received FDA approval for a needle-free injector for human growth hormone.

(+) DCGN says it discovers kidney stone gene.

(+) CYTR reports favorable update for trial of Tamibarotene.

(+) FRE to sell $2 bln in bills.

(+) CSIQ gets order.

(+) ARTX gets order.

(+) EGT says plan to move into Philippines progressing.

(+) KBH gets upgrade.

(+) MSFT may sell Razorfish: reports.


(-) AA gets analyst downgrade.

(-) ELN drops in line with Biogen (NASDAQ:BIIB) after BIIB reports that a 10th patient on Tysabri develops a potentially deadly brain infection. The news wipes out ELN's premarket gains made after reports that Novartis (NYSE:NVS) is interested in parts of ELN.

(-) STT reportedly gets SEC Wells Notice.


Stocks end at or near the day's highs Monday. The Dow Jones Industrial Average was up 1.1%, leading the broader market owed to gains for energy issues and industrial and materials stocks. The S&P 500 ends up 0.9%. The Nasdaq Composite ends up 0.3%.

Lighter than usual volume was seen in the holiday-shortened week and ahead of Thursday's jobs report may contribute to choppiness. U.S. markets are closed Friday for the 4th of July holiday. The monthly employment report will be released a day early as a result.

Energy, financials industrial and materials stocks paced the day's gains after mixed trade to start the day. Healthcare stocks were laggards. Tech stocks are mostly higher led by AMD and Microsoft (NASDAQ:MSFT).

Alcoa (NYSE:AA) defied the rest of the sector, down 3% late, after FBR reduced its rating on the stock to Underperform from Market Perform.

Oil futures ended with strong gains on Monday, rallying in the wake of an attack on a Nigerian oil platform that stirred supply concerns. August crude finished up $2.33, or 3.3%, at $71.49 a barrel. The contract hit an intraday high of $72.40 a barrel. In after-hours trading, crude is up $0.01 at $71.50 a barrel.

Source: Monday's Closing Update