U.S. Stocks Falter; Nasdaq Breaches 200-Day Line
By VINCENT MAO
Copyright by THE INVESTOR'S BUSINESS DAILY
June 1, 2010, 05:08 PM ET
http://www.investors.com/NewsAndAnalysis/Article/535891/201006012208/US-Stocks-Falter-Nasdaq-Breaches-200-Day-Line.aspx
June got off to a gloomy start, as stocks stumbled in a seesaw session Tuesday. Worries over Europe's debt crisis, China's economic growth and tension between Israel and Lebanon offset better-than-expected domestic economic data.
The NYSE composite dropped 1.9%, hurt by oil and steel issues. The S&P 500 and Dow lost 1.7% and 1.1%, respectively. Meanwhile, the Nasdaq fell 1.5% and closed back under its 200-day moving average. Volume fell on both exchanges.
Acme Packet (APKT) reversed from a new record high and dropped 6% in over twice its average trade. The stock had been holding tough during the correction.
Sirona Dental Systems (SIRO) shed 6% in heavy trading. But the stock eased off its worst levels after support at its 200-day moving average.
Perrigo (PRGO) dropped 5% in brisk volume and closed back under its 200-day moving average. The stock is working on a new base, but recent price action has been wide and loose.
On the upside, ev3 (EVVV) gapped up and bolted 17% on takeover news. Covidien (COV) agreed to buy the medical gear maker for $2.6 billion in cash, or $22.50 a share. That marks a premium of nearly 19% over Friday's close.
After the close, Collective Brands (PSS) tumbled 9% after reporting Q1 sales below analysts estimates.
Data on pending home sales and vehicle sales will be out Wednesday. Medical Action (MDCI) also reports earnings Wednesday.
U.S. Stocks Close Near Lows
BY VINCENT MAO
Stocks swayed from losses to gains before ultimately finishing lower on a late sell-off Tuesday.
The NYSE composite dropped 1.9%, the S&P 500 1.7%, the Nasdaq 1.5% and the Dow 1.1%. According to preliminary data, volume rose on both major exchanges.
The late selling came after a report said Israeli warplanes had come under fire from Lebanon.
Energy and steel-related industry groups were the worst performers. Defensive industries such as food and beverage companies, rose.
U.S. Stocks Waver In Late Trade
BY VINCENT MAO
Stocks continued to trade without much direction late Tuesday.
The Dow and Nasdaq rose 0.4% and 0.1%, respectively. The NYSE composite fell 0.3% and the S&P 500 0.2%. Volume was tracking higher on the NYSE and a tad lower on the Nasdaq.
Apple (AAPL) climbed 3% on news that sales of its iPad have topped 2 million units since hitting U.S. store shelves April 3. The tablet device went on sale in a number of overseas markets Friday.
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1 comment:
The triumph of hypocrisy?
The agony of the free world?
Adopting Islamism methods – the way ahead?
I can't decide what should be the proper title-could it be the all 3?
What issues are to be considered?
1:"Freedom activist" are called the supporters of the ideology stating that:
All cultures can leave peacefully only governed by Islam and Sharia low
All lands once conquered by Islam are Muslim territory forever and should be re conquered (From :Paris gates to Morocco- Vienna gates to Istanbul- All India- Sicily and part Italy)
Human rights and democracy should be destroyed
Keel all Jews
2: "Not punished"- their war methods- not included in the international war laws:
Islamist hate propaganda
Terrorist dressed as civilians
Countries supporting and sheltering terrorism
Killing everywhere and everyone
Shelling indiscriminately civilian areas
Firing and hinting between civilians
3: Freedom defenders-- "Punished" tying to defend their nation--
Uniform dressed solders acting to stop terrorists hiding in civilian areas
Soldiers defending their lives against terrorists masked as "freedom activists"
Closing supply logistic channels to areas controlled by terrorist and supporters
Acting against countries sheltering terror infrastructure
** * To survive on this hostile and hypocritical environment what is the way forward?
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