After Market: A Cold Day for Stocks, Too

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With cold weather across much of the country so extreme it grounded some airlines, even stocks found it difficult to fly Monday.

The polar vortex coincided with rough weather for many stocks associated with air travel: JetBlue (JBLU) shares lost about 4.5 percent after the airline announced plans to temporarily shut down its operations in New York and Boston. United (UAL) and Southwest (LUV) both fell more than 1 percent. Package delivery services UPS (UPS) and FedEx (FDX) both lost 1 percent. And the air medical transportation firm Air Methods (AIRM) slid 5 percent.

As for the major indexes, the Dow Jones industrial average (^DJI) fell 45 points, the Nasdaq composite index (^IXIC) lost 18 and the Standard & Poor's 500 index (^GPSC) dropped 4 points. The S&P has now lost ground in 5 of the last 6 sessions, but the total decline has been pretty modest.

Facebook (FB) gained nearly 5 percent, but Twitter (TWTR) tumbled 6 percent as Morgan Stanley (MS) cut its rating to "underweight."

And investors pulled the plug on First Solar (FSLR). It tumbled 9.5 percent after Goldman Sachs downgraded the stock to a "sell." It says the company is not positioned for near-term growth. However, Goldman likes competitor SolarCity (SCTY). It jumped 7 percent to a 52-week high as Goldman gave it a "conviction buy" recommendation.

Goldman Sachs (GS) itself did pretty well, gaining 1 percent, as financials moved higher. Citigroup (C) and Bank of America also rose about 1 percent, while JPMorgan Chase (JPM) added 0.5 percent. JPMorgan is reportedly prepared to pay $2 billion to settle government charges that it ignored signs that Bernie Madoff was engaged in a Ponzi scheme.

Elsewhere, Men's Wearhouse (MW) rose 2-percent after raising its bid for Jos. A. Bank (JOSB) and saying it will go hostile if necessary. Jos. A. Bank gained 4 percent.

Sirius XM (SIRI) jumped by about 7.5 percent as Liberty Media (LSTZA) agreed to buy the 48 percent of the satellite radio company it doesn't already own. That apparently makes rival Pandora (P) worth more. It jumped 14 percent on the day, and the stock has now tripled in value over the past year.

And the real estate investment trust Gyrodyne (GYRO) tumbled 26 percent, falling to a 52-week low.

What to Watch Tuesday:
  • The Commerce Department releases international trade data for November at 8:30 a.m. Eastern time.
These major companies are due to report quarterly earnings:
  • Apollo Education Group (APOL)
  • Container Store Group (TCS)
  • Micron Technology (MU)
-Produced by Drew Trachtenberg.


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k4jlp

Dump those crude futures contracts now....short short short.....Mr. Big is dumping....

January 07 2014 at 5:55 AM Report abuse rate up rate down Reply
toosmart4u

Still cleaning up the mess from the Bush Jr. administration.

January 06 2014 at 5:05 PM Report abuse -4 rate up rate down Reply
2 replies to toosmart4u's comment
jrb359

He's been president for 5 years. There are three reasons why he hasn't fixed the economy. One, he doesn't care. Two, what little effort he has put in as president all went to Obamacare. Three is he has no clue how to fix it! But he could always not take any responsibility and blame someone else. After all, that is what he does best!

January 06 2014 at 6:31 PM Report abuse +1 rate up rate down Reply
pdbliz

TOOOOOOOO,,,,That is getting old now,!!!

January 06 2014 at 6:32 PM Report abuse -1 rate up rate down Reply
toosmart4u

The blame for the 85 billion a month of printing of money. Yup, a Bush Jr. appointee Ben Bernacke, chairman of the federal reserve, term has ended. Now a President Obama appointee is coming into office, Janet Yellen. Now we will see if she continues to print of some cash, so the 85 billion a month goes on the ledger side of you republicans.

January 06 2014 at 5:03 PM Report abuse rate up rate down Reply