DOW down but well off lows of the day - Pfizer needs to do a deal

Online Stock Trading - DOW Down 46

Stock market News

DOW Moves up Towards Close

DOW finishes down 46 but was 148 down at one point - toward the close - subprime worries back again (check date)

2 Bear Stearns hedge funds worthless

Bob Pisani - "subprime issues weakened the market - banks/brokers are writing down assets private hedge funds making losses - if public pension funds are invoved could make it worse

Big picture still positive

JPMorgan beat expectations"

The last time sub-prime issues affected the markets was 11 July - so maybe once a week is what we can expect

Tech also weak - Intel and Yahoo earnings didn't help

Pfizer - Pfizer Stock Price

Pfizer's results were not good and analysts, Barbara Ryan of Deutsche Bank, says Pfizer needs to make an acquisition. Pfizer themselves said they will be making acquisitions but didn't give any specific targets (well they wouldn't would they)

There are rumors in the UK that Pfizer are looking at Silence Therapeutics, a RNAi company.


IBM beats expectations - margins improved - Q2 revenues up 9% - global services revenue up 10% - signed services contracts up 22% -

Analyst just said he expects stock to go to 140 over 12 months

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