Stocks End Mostly Lower Despite US Credit Upgrade (AAPL, BAH)
Despite Monday's credit upgrade for the US from Standard & Poor's stocks closed mostly lower. Nasdaq saw a small gain while both the S&P and Dow pulled back. The S&P cited the US' ability to avoid the "fiscal cliff" as well as several economic improvements as reasons for the credit rating upgrade. Booz Allen Hamilton (BAH) dropped about 3% on Monday after an employee admitted to leaking information. Apollo Group Inc. (APOL) gained 5% along with others in the education industry.Exide Technologies (XIDE) reported for Chapter 11 bankruptcy on Monday and subsequently tumbled 14%. Oil futures fell after weak data was reported from China and the US dollar gained against the yen but dropped against the euro.
Word on the Street
- S&P upgrades US government long-term debt from "negative" to "stable."
- Facebook (FB) jumps after positive analyst reviews.
- Energy stocks have bad day on Monday, performing the worst for the S&P.
- Apple (AAPL) reveals a new mobile operating system and iTunes Radio.
- Is TiVo (TIVO) the Next Eastman Kodak?
Published on Jun 10, 2013By InvestorGuide Staff