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4:10 PM, Sep 11, 2009 --

  • NYSE down 6.98 (0.1%) to 6,843.83.
  • DJIA down 22 (0.23%) to 9,605.
  • S&P 500 down 1.41 (0.14%) to 1,043.
  • Nasdaq down 3.12 (0.2%) to 2,081.


GLOBAL SENTIMENT

  • Hang Seng up 0.44%
  • Nikkei down 0.66%
  • FTSE up 0.48%


UPSIDE MOVERS

(+) Quidel (NASDAQ:QDEL) continued evening run seen after issuing outlook.

(+) Discovery Labs (NASDAQ:DSCO) continued sharp extended-hours upside that followed news company has received written notification for SURFAXIN approval plans from FDA.

(+) Campbell Soup (NYSE:CPB) beat with earnings.

(+) Garmin (NASDAQ:GRMN) gets analyst upgrade

(+) News Corp. (NASDAQ:NWS) gets analyst downgrade.

(+) Eli Lilly (NYSE:LLY) traded mixed after saying Cymbalta study shows drug maintains statistically significant pain reduction for 41 weeks.

DOWNSIDE MOVERS

(-) Intel (NASDAQ:INTC) turned lower with broader market decline despite analyst upgrade.

(-) Dr. Reddy's (NYSE:RDY) gained then fell as founder denied interest in selling stake.

(-) Steel Dynamics (NASDAQ:STLD) reversed modest evening upside that followed raised Q3 guidance.

(-) Cree (NASDAQ:CREE) priced share offering.

(-) National Semi (NSM) reported sharp drop in profit though beat with Q1 EPS, guides for Q2 sales to beat.

(-) AIG (NYSE:AIG) gets analyst downgrade.

(-) Allstate (NYSE:ALL) gets analyst downgrade.

(-) CBS (NYSE:CBS) gets analyst downgrade.

(-) RealNetworks (NASDAQ:RNWK) gets analyst downgrade.

(-) Finisar (NASDAQ:FNSR) matched with earnings in extended-hours release.

MARKET DIRECTION

Stock averages closed just in the red Friday, snapping a five-session string of advances. For the week, the DJIA is up 1.7% and the S&P 500 is up 2.6%. The Nasdaq Composite pushed ahead by more than 3%.

Early mixed trade turned decisively lower in afternoon action before the major averages clawed back into the upper end of the day's range. Bulls showed some fatigue after a five-day advance. That change in attitude was evident as stocks failed to get much traction from an upbeat consumer confidence reading issued earlier in the day.

The Reuters/University of Michigan index jumped in early September to 70.2 from 65.7 in August, with the rise significantly better than expected by many analysts.

Overseas markets and U.S. pre-market futures trading got a lift this morning from encouraging reports out of China. The latest data showed improvement in industrial output, investment, loans and retail sales.