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Markets Rally Fizzles

By John Patrick Lee | TradingMarkets.com
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TradingMarkets just released a proprietary stock rating method called PowerRatings. This method ranks stocks 1-10 and the higher the rating, the greater the one-week historical gain has been.

PowerRatings were created by Cesar Alvarez, Director of Research for Connors Capital, LLC. Cesar looked back at more than 5.5 million trades between Jan 1, 1995 and Dec 1, 2005. The results are based on the average 5-day performance.

To find out more about PowerRatings click here.


Major indexes close the day up fractionally; Friday's sell off failed to carry over into the new week, as investors responded positively to earnings from Ford. 

Crude futures closed down fractionally despite continuing tensions in oil-producing countries Iran and Nigeria.

Gold prices rose almost $5 today as the dollar continues to show weakness against the Euro.

US Supreme Court denied Research in Motion's (RIMM | Quote | Chart | News | PowerRating) appeal in a patent dispute with NTP Inc.  The decision, which could force RIMM to pull their BlackBerry products off the shelves, led to RIMM closing down 3.5% for the day.  RIMM's (PowerRating).

Ford (F | Quote | Chart | News | PowerRating) beat expectations and announced restructuring plans; F closed up 5% on the news.  F's (PowerRating).

Nike (NKE | Quote | Chart | News | PowerRating) stock price fell as much as 3.2% after CEO William Perez resigns, citing conflicts with chairman and co-founder Philip Knight.  NKE's (PowerRating).

Stocks On The Move

Bank Of America (BAC | Quote | Chart | News | PowerRating) Q4 EPS Edges Down, Misses Consensus On Higher Provision Expense And Lower Trading Results (full story).

NIKE (NKE | Quote | Chart | News | PowerRating) CEO Resigns Over Differences Regarding Leadership; Names Mark Parker As CEO (full story).

Ford (F | Quote | Chart | News | PowerRating) To Idle 14 Facilities, Cut 25,000 To 30,000 Jobs By 2012 (full story).

Polo Ralph (RL | Quote | Chart | News | PowerRating) To Buy Back Polo Jeans From Jones Apparel For $355 Mln; Settles Outstanding Litigation (full story).

Sports Authority (TSA | Quote | Chart | News | PowerRating) Agrees To Be Acquired For $1.3 Bln By Leonard Green & Partners Led Group (full story).

Pilgrim's Pride (PPC | Quote | Chart | News | PowerRating) Q1 Profit Plummets 88.72% On Lower Price Realizations And Weaker Sales (full story).

Grocer Albertson's (ABS | Quote | Chart | News | PowerRating) Sells Itself To A Consortium For $17.4 Bln (full story).

For more stories as they happen, go to our Breaking News section.

Dow

+21.38

10688.77

NASDAQ

+0.77

2248.47

S&P 500

+2.34

1263.83

NYSE

NASDAQ

Volume

2,215,227,000

1,901,534,000

Advances

2049

1613

Declines

1234

1399

Up Volume

1216

751

Down Volume

778

751

New Hi's

151

117

New Lo's

34

38

 

Strongest Sectors

Weakest Sectors

Oil Service Sector (OSX | Quote | Chart | News | PowerRating) Combined Telecom Index (IXTCX | Quote | Chart | News | PowerRating)
Airline Index (XAL | Quote | Chart | News | PowerRating) Morgan Stanley Healthcare (HMO | Quote | Chart | News | PowerRating)
Securities Broker Deal (XBD | Quote | Chart | News | PowerRating) S&P Retail (RLX | Quote | Chart | News | PowerRating)

Economic News

US Dec. Index Of Leading Economic Indicators Increases 0.1%

John Patrick Lee
johnl@tradingmarkets.com

Get your stock's PowerRatings here.


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