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US markets switch course during later part of trading day, closes in green

February 12th, 2008

The US Markets that were weak during the first few hours reversed their course during the later part and closed the day in the green. NASDAQ is up 0.66%, DJIA up 0.48%, S&P 500 is up 0.59%

The news of Yahoo rejecting the offer from Microsoft claiming the offer to be undervalued is well taken by the markets. Microsoft reacted immediately quoting the the decision of rejection is an ‘unfortunate’ one. Statistical numbers says that Microsoft is pretty large compared to Yahoo except for the share in Search.

Yahoo closed the day up at $29.87 while Microsoft is down at $28.21. Another major update of the day is in the Dow Jones Industrial Average. Altria MO and Honeywell International (NYSE:HON) HON will be replaced with Bank of America (NYSE:BAC) BAC and Chevron CVX before the market open February 19.

Most advancing stocks on the NASDAQ are Empire Resorts, Inc., Possis Medical, Inc., John B. Sanfilippo & Son, Inc., Axcelis Technologies, Inc. and Labopharm Inc. while the most decliners of the day are NeuroMetrix, Inc., ADDvantage Technologies Group, Inc., LCA-Vision Inc., First Federal of Northern Michigan Bancorp, Inc. and General Communication, Inc.
February 11, 2008 - Closing Bell

Entry Filed under: Global Markets