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The major indexes closed a choppy session moderately lower. Stocks opened the day with a jump, but fell as traders sold stocks on bad news from Intel and an overall negative market atmosphere. The markets then sold off again, following a mid-day bounce in the Dow Industrials.
JP Morgan Chase (JPM | Quote | Chart | News | PowerRating) rallied 6.5% today after announcing a Q4 writedown that was less than expected (full story).
Intel (INTC | Quote | Chart | News | PowerRating) fell 12.2%, after reporting Q1 sales that just missed earnings estimates (full story).
Sun Microsystems (JAVA | Quote | Chart | News | PowerRating) rallied 3.9% after announcing plans to buy software company MySQL Ab for around $1 billion, and reporting that last quarter's profit exceeded expectations (full story).
Mattel (MAT | Quote | Chart | News | PowerRating) rallied 8.2% after an upgrade.
Gold prices and crude futures both plummeted today on concerns for the global economy. Crude fell just over 1%, while gold fell more than 2%.
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