US Stocks Turn Lower After RBI Hikes Rate (PALM, BBY, KO, BA, DTV, AIG, BAC, HBC, Citigroup)
US Stock Losers.
(EMAILWIRE.COM, March 19, 2010 ) Dallas, Tx - After opening slightly up, US markets have turned sharply down. Just an hour ago, one of the most conservative Central Bank worldwide - The Reserve Bank of India surprisingly raised its key short-term lending and borrowing rates by 25 basis points each as part of its tight money policy to combat inflation, which the government feels is a cause of concern. These are causing some concerns if the other central Banks start increases their rates as well.
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The Dow Jones Industrial Average fell 58.42 points or 0.54% to 10,720.75, NASDAQ declined 21.73 or 0.91% to 2,369.41 and S&P 500 fell 8.16 or 0.70% to 1,157.66.
Following are some of the notable movers in today’s trading session.
Palm, Inc. (NASDAQ:PALM) plunged 18% to its all time low of $4.55 after forecasting sales that trailed analysts’ estimates as its phones failed to match the popularity of rival models running on Google Inc.’s Android software. Cerner Corp. may rise after S&P said the provider of medical-record technology will replace BJ Services Co. in the benchmark index.
Best Buy Co., Inc. (NYSE:BBY) got a boost from Goldman Sachs, which upgraded the company’s share to Buy from Neutral and also raised the price target by $3 to $47. Shares jumped 2% to $41.24.
The Coca-Cola Company (NYSE:KO) rose 1.72% to $54.87 after Soft drink superpower The Coca-Cola Company (KO) saw its coverage initiated with a “Buy” rating on Friday by analysts at Buckingham Research.
The Boeing Company (NYSE:BA) rose over 1% to $71.62 after hitting a new 52-week high of $73.30 earlier in the session. The world’s largest electronics retailer was raised to “buy” from “neutral” at Goldman Sachs Group Inc.
DIRECTV (NASDAQ:DTV) fell 2.58% to $33.71 after the largest U.S. satellite-television was cut to “hold” from “buy” at Citigroup Inc.
Also, most of the financial stocks took a knock and fell between 1%-2.50%.
Citigroup Inc. (NYSE:C) fell 1.72%, Bank of America Corporation (NYSE:BAC) fell 2%, HSBC Holdings plc (ADR) (NYSE:HBC) slid 2.36%, American International Group, Inc. (NYSE:AIG) decreased over 2%.
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Liquid Tycoon provides stock news alerts for the investors. Many of our members have gained thousands of dollars using our stock market investment news. We also provide information on penny stocks. We send our members, stock newsletter on hot stocks, stocks in focus, technical stocks, stocks to watch etc. You can also feature your business on our website by contacting us at the email given here.
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You can subscribe to our Daily Stock Alerts by visiting: http://www.LiquidTycoon.com .
The Dow Jones Industrial Average fell 58.42 points or 0.54% to 10,720.75, NASDAQ declined 21.73 or 0.91% to 2,369.41 and S&P 500 fell 8.16 or 0.70% to 1,157.66.
Following are some of the notable movers in today’s trading session.
Palm, Inc. (NASDAQ:PALM) plunged 18% to its all time low of $4.55 after forecasting sales that trailed analysts’ estimates as its phones failed to match the popularity of rival models running on Google Inc.’s Android software. Cerner Corp. may rise after S&P said the provider of medical-record technology will replace BJ Services Co. in the benchmark index.
Best Buy Co., Inc. (NYSE:BBY) got a boost from Goldman Sachs, which upgraded the company’s share to Buy from Neutral and also raised the price target by $3 to $47. Shares jumped 2% to $41.24.
The Coca-Cola Company (NYSE:KO) rose 1.72% to $54.87 after Soft drink superpower The Coca-Cola Company (KO) saw its coverage initiated with a “Buy” rating on Friday by analysts at Buckingham Research.
The Boeing Company (NYSE:BA) rose over 1% to $71.62 after hitting a new 52-week high of $73.30 earlier in the session. The world’s largest electronics retailer was raised to “buy” from “neutral” at Goldman Sachs Group Inc.
DIRECTV (NASDAQ:DTV) fell 2.58% to $33.71 after the largest U.S. satellite-television was cut to “hold” from “buy” at Citigroup Inc.
Also, most of the financial stocks took a knock and fell between 1%-2.50%.
Citigroup Inc. (NYSE:C) fell 1.72%, Bank of America Corporation (NYSE:BAC) fell 2%, HSBC Holdings plc (ADR) (NYSE:HBC) slid 2.36%, American International Group, Inc. (NYSE:AIG) decreased over 2%.
About http://www.LiquidTycoon.com
Liquid Tycoon provides stock news alerts for the investors. Many of our members have gained thousands of dollars using our stock market investment news. We also provide information on penny stocks. We send our members, stock newsletter on hot stocks, stocks in focus, technical stocks, stocks to watch etc. You can also feature your business on our website by contacting us at the email given here.
###
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Jim
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This is a press release. Press release distribution and press release services by EmailWire.Com: http://www.emailwire.com/us-press-release-distribution.php.
Liquid Tycoon
Jim
Tel: 214-5566798
Email us
This is a press release. Press release distribution and press release services by EmailWire.Com: http://www.emailwire.com/us-press-release-distribution.php.
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