Morgan Stanley (MS)

[zigzagman]

Stocks End Mixed; Financial, Energy Equities Rebound:

Evelyn Rusli, 01.23.09, 05:30 PM EST
http://www.forbes.com/2009/01/23/oil-citigroup-ge-markets-cx_er_0123transclose.html?partner=yahootix

The Street could not pull off a strong rally on Friday. Financial and energy stocks rebounded, but the Dow fell 45 points at the close. The index fell 2% for the week. The S&P 500 gained four points, though, and the Nasdaq rose 12 points.

Oil advanced as the dollar tilted south. Crude gained $2 to nearly $46 a barrel. Chevron added 1%, while Royal Dutch Shell gained 3%.

Citigroup led the financial sector, as President Obama confirmed that the next stimulus package could be ready by mid-February. Morgan Stanley and Bank of America were also up sharply.

General Electric (nyse: GE) failed to rebound after a disappointing profit report. The blue chip fell 11% at the close.

Intel (nasdaq: INTC) managed a gain, adding 2% despite the somber outlook for semiconductors and computers in 2009. On Friday the chip maker said Chairman Craig Barrett will retire in May after three decades at Intel. Board member Jane Shaw will replace Barrett.