Friday, August 7, 2009

Intraday action

Markets are at their highs for the day. Job losses for July were 100k less than expected, and the unemployment rate came in at 9.4% instead of the 9.6% expected. AIG is up 20% as it posts its first profit since 2007, and Citigroup shares are up 8%, in my opinion due to excitement over some serious insider buying:

Among movers, poor Leap wireless. Most analysts had it wrong(rated Buy or Outperform) and are scrambling to downgrade it this morning, expect Pali Research, who is upgrading to neutral from Sell.

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