Monday, July 18, 2011

Market News

Borders inches closer to liquidation

Yesterday's bidding deadline passed without offers to keep the second largest US bookstore operator in business.

Netflix, LinkedIn highlight tech losses

Netflix fell 3.74% after Pacific Crest Securities analyst Andy Hargreaves cut his rating to sector perform from outperform. [...] LinkedIn gave up $4.73 a share, or 4.3%, to fall to $105.23 after J.P. Morgan analyst Doug Anmuth cut his rating to neutral from overweight.  I think both of these are still way overpriced and have a long way farther to fall.

29 of 30 DJIA components down

Decline lead by Bank of America which fell  3.6% to $9.64.

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