Friday Close

filed in My Investments on Apr.17, 2009

I am certainly baffled with one stock today. (C) fell on great earnings and it seems like curse for the banks. As much as its profit taking, its surprising that such great results are being met with resistance on a movement upwards. (BAC) is next on Monday and it will be interesting to see what is posted by them.

Here is the Friday Summary from Bloomberg TV:

Its true, that this is the sixth week in a row that the markets have ended upwards. This is great to hear after such a miserable time.

(GE) also posted some really good earnings which makes it attractive to hold at this point in my opinion. I was extremely cautious on this stock when it was lower on the credit arm of (GE) but after this, it seems like a smaller movement down can happen, but the stock will not tank like it did a couple of months back.

Looking at Monday:
Earnings:
(ACI) 0.29 (BMI) 0.38 (BXS) 0.3 (BAC) 0.03
(CNI) 0.49 (CSBC) 0.05 (CR) 0.44 (DEL) -0.03 (ETN) -0.2
(LLY) 0.99 (FDEF) 0.14 (HAL) 0.45 (HAS) 0.14 (IEX) 0.34
(IBM) 1.66 (JDAS) 0.3 (LNCR) 0.36 (MCBC) -0.2 (MLNX) 0.09
(PKG) 0.19 (PNFP) 0.24 (STBA) 0.52 (SYK) 0.71 (TXN) -0.02
(TRIB) 0.07 (WFT) 0.3 (ZION) -1.11

Economic Indicator:
8:30AM Initial Unemployment Claims
8:30AM Housing Starts for March.
10:00AM Philly Fed Index for April.

Happy Investing!

Aman, MBA