This Day On The Street
Continue to site
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

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.

Meanwhile, the Treasury Department said late Monday that it plans to sell 2.4 billion shares of Citigroup's( C - Get Report ) 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 - Get Report), 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.
2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
BKS $8.19 1.60%
C $34.86 -6.80%
PFE $29.14 -1.20%
S $2.55 -6.30%
YHOO $26.75 -1.30%


Chart of I:DJI
DOW 15,660.18 -254.56 -1.60%
S&P 500 1,829.08 -22.78 -1.23%
NASDAQ 4,266.8370 -16.7550 -0.39%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs