Markets Advance Despite Citigroup's $7.6 Billion Loss

January 19, 2010 10:35 AM | Permalink

Despite a $7.6 billion loss in the fourth quarter for Citigroup, the markets advanced during the midday with the Dow soaring 102 points to 10,712. Nasdaq surged 27 points to 2315.

On the upside

Emerging Stock Report initiated coverage of Wave Systems (Nasdaq: WAVX).

Stratasys (Nasdaq: SSYS) will produce an exclusive line of Hewlett-Packard (NYSE: HPQ) branded three dimensional printers.

Williams (NYSE: WMB) announced a restructuring plan to combine its pipeline and processing systems, creating a vast nationwide partnership.

On the downside

Shares of Amcore Financial (Nasdaq: AMFI) continued to fall after regulators refused to approve the company's capital restoration plan.

Bernstein downgraded Sprint (NYSE: S).

Profit takers sent shares of Baidu (Nasdaq: BIDU) lower. The stock price surged last week when Google (Nasdaq: GOOG) threatened to pull out of China due to cyber attacks.

In the broad market, advancing issues outpaced decliners by a margin of 5 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 645.

This page contains a single entry by published on January 19, 2010 10:35 AM.

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Markets Advance Despite Citigroup's $7.6 Billion Loss

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