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US close: Dow makes modest gains on anniversary
Wed, 08 Feb, 2012
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US close: Dow makes modest gains on anniversary
Tue, 9 Mar 2010, 22:40:00
US stocks eased back near the close but still closed higher a year on from the bottom of the recent market weakness. Dow Jones closed 11 higher at 10,564. Nasdaq added 8 to 2,340, while the S&P gained 1 at 1,140. The Dow has now risen over 61% since it hit a 12-year low of 6,547 on 9 March. <b>Cisco Systems</b> has introduced a router that can cope with 12 times as much internet traffic as any competitor product. Cisco claims the router can deliver every film ever made in four minutes. <b>AT&T</b> is trialling the technology. Late on Monday, <b>Northrop Grumman</b> and Airbus parent <b>EADS</b> pulled out of bidding for a $35bn contract to build refuelling tankers for the US air force. Rival <b>Boeing</b>, the world's second-biggest aerospace company, is now expected to pick up the work making it one of the best performers in the Dow. Shares in mobile communications firm <b>Sprint-Nextel</b> continue to rise after yesterday's positive figures. Health care giants <b>Merck</b> and French peer <b>Sanofi-Aventis</b> have agreed to form a 50-50 animal-health joint venture. Jet engines and elevators manufacturer <b>United Technologies</b> was raised from neutral to outperform by Cowen & Co. JPMorgan Chase cut <b>First Solar</b> from neutral to underweight. <b>S&P 500 - Risers</b> American International Group Inc. (AIG) $32.77 +12.61% Citigroup Inc. (C) $3.82 +7.30% Sprint Nxtel Corp. (S) $3.61 +6.18% Southwestern Energy (SWN) $43.89 +3.88% <b>S&P 500 - Fallers</b> Invesco Ads (IVZ) $19.99 -5.17% Charles Schwab Corp. (SCHW) $18.43 -3.20% Kroger Co (KR) $22.35 -2.40% CF Industries Holdings Inc. (CF) $100.63 -2.28% <b>Dow Jones I.A - Risers</b> United Technologies Corp. (UTX) $71.78 +1.44% General Electric Co. (GE) $16.49 +1.35% AT&T Inc. (T) $25.56 +1.11% Verizon Communications Inc. (VZ) $29.91 +0.94% <b>Dow Jones I.A - Fallers</b> Home Depot Inc. (HD) $31.68 -0.88% Merck & Co. Inc. (MRK) $37.04 -0.83% Alcoa Inc. (AA) $13.67 -0.80% Pfizer Inc. (PFE) $17.23 -0.69%
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