4:09 PM, Aug 10, 2009 --
- NYSE down 21.43 or 0.33% to 6,564.93.
- DJIA down 34.16 or 0.36% to 9,335.9
- S&P 500 down 0.58 or 0.06% to 1,009.9.
- Nasdaq down 2.25 or 0.11% to 1,998.00.
GLOBAL SENTIMENT
- Hang Seng up 2.7%
- Nikkei up 1.1%
- FTSE up 0.7%
UPSIDE MOVERS
(+) FRE gains after announcing late on Friday it does not need to request more capital aid from the US government. FNM also recovers from deep drop Friday.
(+) PCLN says Q2 profits, sales beat estimates.
(+) DYN to sell nine plants for about $1.5 billion in cash and stock in a move to cut debt.
(+) MCD says global same-store sales rise 4.3% for July.
(+) TIBX reportedly in deal talks with SAP.
(+) YRCW inks deal with union.
(+) CHDX beats with earnings.
(+) YMI gets OK for extending clinical program.
(+) ELON in supply agreement with Duke Energy.
DOWNSIDE MOVERS
(-) LLY downgraded by Goldman Sachs.
(-) MSFT sells Razorfish.
(-) RTP dips as reports say company subject of scathing Chinese
editorial.
(-) BBY downgraded by Goldman Sachs.
(-) VNDA reports wider-than-expected second-quarter loss.
MARKET DIRECTION
Stocks eased moderately, down around 0.3% and 0.4%, as Wall Street pocketed some of the profits from a four-week rally that landed the averages at fresh 2009 highs last week. Investors are also awaiting a two-day Federal Reserve meeting and more economic data, including retail sales figures, later in the week.
The central bank is expected Wednesday to keep rates near zero after its two-day meeting. Also later this week, Wal-Mart Stores (WMT), J.C. Penney (JCP) and Macy's (M) will report earnings.
Crude oil ends down 0.5% at $70.60 a barrel. Gold ends down 1.3% at $945 an ounce. The broader commodity market, including metals prices, fell, dragging on materials stocks.
As for corporate movers:
McDonald's (MCD) was a gainer after its better-than-expected sales results.
Best Buy (BBY) and Eli Lilly (LLY) declined after analyst downgrades.
Merck & Co. (MRK) was given a Buy rating by Goldman Sachs.
