Traders had a hard time pushing deeper into positive territory Friday. The bulls may have been scared off by Fitch downgrading Berkshire Hathaway's ( BRK-A) triple-A debt rating by one notch due to the volatile market. The downgrade launched Warren Buffett's holding company onto TheStreet.com's most searched stock list.
Financials were also heavily searched. Citigroup ( C) saw a lot of action on a report that it was preparing to overhaul its board. And Bank of America ( BAC) was a big name on stock search as NY Attorney General Andrew Cuomo keeps digging into the bonuses given to Merrill Lynch employees before the two firms merged. Investors were also looking for more news on General Motors ( GM) after the automaker said yesterday it won't need $2 billion of the rescue money it originally asked the U.S. government for. And a downgrade actually worked in General Electric's ( GE) favor Thursday because it wasn't as bad as expected and included a stable short-term outlook. GE found itself back on the most searched stocks list on Friday. Meanwhile, BMO Capital reduced its estimates for Apple ( AAPL) sending the Mac-Maker onto the list. On the other hand, Apple competitor Palm ( PALM) won another analyst upgrade Friday as excitement builds for the Pre, its new touchscreen phone. Still on the topic of smartphones, Research In Motion ( RIMM) was heavily searched Friday after ThinkEquity analyst Mike Burton initiated his coverage with a sell rating and a price target of $30, citing the need for future earnings estimates to come down.