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.
- Hang Seng up 0.44%
- Nikkei down 0.66%
- FTSE up 0.48%
(+) Quidel (QDEL) continued evening run seen after issuing outlook.
(+) Discovery Labs (DSCO) continued sharp extended-hours upside that followed news company has received written notification for SURFAXIN approval plans from FDA.
(+) Campbell Soup (CPB) beat with earnings.
(+) Garmin (GRMN) gets analyst upgrade
(+) News Corp. (NWS) gets analyst downgrade.
(+) Eli Lilly (LLY) traded mixed after saying Cymbalta study shows drug maintains statistically significant pain reduction for 41 weeks.
(-) Intel (INTC) turned lower with broader market decline despite analyst upgrade.
(-) Dr. Reddy's (RDY) gained then fell as founder denied interest in selling stake.
(-) Steel Dynamics (STLD) reversed modest evening upside that followed raised Q3 guidance.
(-) Cree (CREE) priced share offering.
(-) National Semi (NSM) reported sharp drop in profit though beat with Q1 EPS, guides for Q2 sales to beat.
(-) AIG (AIG) gets analyst downgrade.
(-) Allstate (ALL) gets analyst downgrade.
(-) CBS (CBS) gets analyst downgrade.
(-) RealNetworks (RNWK) gets analyst downgrade.
(-) Finisar (FNSR) matched with earnings in extended-hours release.
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.