Bank Of America Repays Entire Government Loan

December 9, 2009 1:44 PM |
Bank of America repaid the entire $45 billion it received from the government sparking hopes that the economy is on track to recover. The markets closed higher with the Dow gaining 51 points to 10,337. Nasdaq rose 10 points to 2183.

On the upside

Jefferies & Co. initiated coverage of Jazz Pharmaceuticals (Nasdaq: JAZZ) with a Buy rating.

Macquarie Research analyst Jonathan Grobert said that Affymetrix (Nasdaq: AFFX) is a compelling acquisition target.

Valassis Communications (NYSE: VCI) forecast 2010 results above expectations.

On the downside

Fitch Ratings downgraded the rating of CMG Mortgage Insurance, whose parent companies are PMI Group (NYSE: PMI) and CUNA Mutual Insurance Society.

Texas Instruments (NYSE: TXN) narrowed its earnings guidance but the stock price fell.

Shares of Motorola (NYSE: MOT) fell as investors locked in profits. 

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE while advancers were on par with decliners on Nasdaq. The Russell 2000 which tracks small cap added a fraction to 598.

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This page contains a single entry by published on December 9, 2009 1:44 PM.

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