Markets Close Lower As Consumer Confidence Drops

September 29, 2009 1:41 PM |
Consumer confidence dropped more than expected to send the markets down to a lower close with the Dow falling 47 points to 9742. Nasdaq lost 6 points to 2124.

On the upside 

Stifel Nicolaus analyst Greg Mason upgraded MCG Capital (Nasdaq: MCGC) saying that the company should be able to reinstate its dividend soon.

Robert W. Baird analyst David Leiker upgraded Modine Manufacturing (NYSE: MOD) saying that the stock price has the potential to quadruple.

Piper Jaffray said that market conditions are improving for Moody's (NYSE: MCO) and expects third quarter earnings to rise.

On the downside

Optimus will invest $10 million in VeriChip (Nasdaq: CHIP).

pSivida (Nasdaq: PSDV) reported upbeat interim results from its Phase III clinical study of its chronic back of the eye disease treatment but the stock price fell.

Dell (Nasdaq: DELL) appointed Adobe chief executive Shantanu Narayen to its board to replace the departing Sallie Krawcheck. 

In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 the NYSE and and by 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 2 points to 613.

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This page contains a single entry by published on September 29, 2009 1:41 PM.

Disappointing Drop In Consumer Confidence Weighs Markets was the previous entry in this blog.

Stocks Open Lower as 2nd Quarter GDP Shrinks is the next entry in this blog.

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