This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Stocks Finish Mixed as Commodities Surge

"There hasn't really been that much movement today in the markets." Strauss said. "I think Bernanke's comments were more along the lines of: If the economy grows more than 3%, then the Fed will end the program early. And I think that was the perception that most people had, but hearing it from Bernanke's mouth added a little more credibility to the Fed's sensitivity and using it as a dialing up, dialing down tool."

Eurozone concerns persisted as European Union finance ministers come together late Monday in Brussels to discuss whether its €750 billion ($996.3 billion) rescue package will be sufficient to address sovereign debt weakness. The euro lost ground against the dollar, falling to $1.3271 from $1.3411. The FTSE in London added 0.4% and the DAX in Frankfurt inched 0.1% higher. Hong Kong's Hang Seng shed 0.4%, and Japan's Nikkei dropped 0.1%.

There are no economic reports scheduled for release during Monday's session.

Traders

Meanwhile, the Treasury Department said late Monday that it plans to sell 2.4 billion shares of Citigroup's (C) stock as it prepares to exit its position in the bank. Shares were down 1.1% in extended trading.

Shares of Pfizer gained 0.5% to $16.81 after CEO Jeffrey Kindler unexpectedly announced his retirement, citing the exhausting demands of the job. Pfizer's board selected Ian Read, who has headed the company's global biopharmaceutical operations, as CEO, president and a member of the board.

Drug developer Celgene (CELG) saw its stock slump 8.2% to $55.64 as new but inconclusive data suggested multiple myeloma patients treated with the Revlimied, its popular blood cancer drug, for extended periods of time are being diagnosed with secondary cancers at a higher rate than patients not treated with Revlimid.

Sprint Nextel (S) saw its stock jump 6.4% to $4.17 after hedge fund titan David Einhorn said he was long the stock and that Sprint was poised for a turnaround. Separately, the company announced its plan to consolidate its multiple network technologies into a single network. The company expects the plan to enhance service, improve network flexibility and reduce operating costs.

Hedge fund manager Bill Ackman is interested in funding Borders (BGP) in a bid to buy rival Barnes & Noble (BKS), according to a filing on Monday. Barnes & Noble's stock jumped 10% to $14.73, while shares of Borders surged 29% higher to $1.39.

Stock quotes in this article: ^DJI, ^GSPC, ^IXIC 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs