Tuesday, September 29, 2009

Intraday action (GCI, CIT, SQNM)

AlphaNinja - US stocks are at their lows for the day, off about a third of a percent.. While housing numbers (from July, so a bit dated) were "less bad" than people expected, the consumer confidence number was "more bad" than expected.

Among gainers, Gannet (GCI) surprised to the upside with positive comments on the current quarter's ad sales. Also up today is CIT Group (CIT), on speculation (some are calling it nonsense) that a deal with Indymac may be in the works. The good news on CIT is sending its CDS (Credit default swaps) down, so the cost to insure debt is now down to "very expensive" from "very very expensive"(from CMA Datavision):

Among losers is the wreck that is Sequenom (SQNM), down another 36% after dismissing its CEO, CFO, and head of R&D.

No comments:

Post a Comment