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Stocks pared early losses yesterday to close virtually

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blasher   Tuesday, 08/21/12 08:49:23 AM
Re: blasher post# 10331
Post # of 10364 
Stocks pared early losses yesterday to close virtually unchanged as investors waited for events later in the week, including the minutes from the Federal Reserve’s last meeting. Best Buy fell 10.4% after buyout talks with founder Richard Schulze floundered, also the co. tapped French restructuring expert Hubert Joly as its CEO. Apple climbed 2.6% to record level, as buzz grew around the expected September launch of the iPhone 5. Facebook jumped 5.0% after Capstone Investments upgraded the stick to buy from hold with a price target of $26. Also, tech sector got a lift from Hewlett-Packard and Dell, which were up 2.9% and 2.8% respectively ahead of earnings. Implied volatility little changed on modest trading volumes.


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