Filed under: Home Depot (HD), Staples Inc (SPLS), Lehman Br Holdings (LEH)

Today felt like a mini-me version of yesterday’s 180-point DJIA sell-off. Again, thin volume persisted. Perhaps the oil traders got an upper hand on some weather forecasting models, putting Tropical Storm Fay back into the Gulf of Mexico with a very promising 25% chance of happening. This would put the oil infrastructure at risk. A super-high PPI report put wholesale inflation up 1.2% (double estimates) at the highest level since late 2006.

Below are the unofficial closing bell levels:
DJIA 11,348.47 (-130.92)
S&P500 1,266.86 (-11.74)
NASDAQ 2,383.52 (-33.46)
10YR T-Note 3.842% (+0.026%)
52-WEEK LOWS
Top Analyst Calls

Home Depot Inc. (NYSE: HD) showed a 24% decline in earnings with results at $0.71 EPS on a 5.4% drop in revenues to $21 billion. Estimates were $0.61 EPS and $20.6 billion. The home repair supplies and hardware retail beast shares were actually down almost 4% at $25.95 in today’s final minutes after the sellers overpowered the bulls at the open.

Lehman Brothers Holdings Inc. (NYSE: LEH) felt the wrath of traders after reports that it would also sell a stake in its Neuberger Berman money management unit and on reports that CEO Dick Fuld was passing down some responsibilities to his #2. Shares were down 13% in today’s final minutes.

Continue reading Closing Bell: Another day, another dollar loss for the Dow

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This entry was posted on Thursday, August 21st, 2008 at 7:08 am and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.