Dow Recovers To Close Higher

July 6, 2009 1:44 PM |
The Dow recovered in late afternoon trading to close up 44 points to 8324 as crude oil prices tumbled. Nasdaq fell 9 points to 1787.

On the upside

Lazard Capital Markets upgraded SonicWALL (Nasdaq: SNWL).

KeyBanc analyst Steve Barger upgraded Oshkosh (NYSE: OSK) after the company landed a $1.06 billion Pentagon contract.

On the downside

Several class action lawsuits related to Matrixx's (Nasdaq: MTXX) withdrawn cold medication Zicam were filed against the company.

Shares of CIT Group (NYSE: CIT) fell after Kainos Partners, which operates 56 Dunkin' Donuts franchises, filed for bankruptcy. Kainos owes CIT approximately $25 million.

Falling drybulk shipping rates weighed down shares of DryShips (Nasdaq: DRYS).

Deutsche Securities upgraded Freeport-McMoRan (NYSE: FCX) but the stock price fell.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points to 494.

Tags:

Search


About this Entry

This page contains a single entry by published on July 6, 2009 1:44 PM.

Markets Modestly Lower Despite Retreating Oil Prices was the previous entry in this blog.

Stocks Open Lower on Light Volume is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.

Powered by Movable Type 5.12