Market Recap: The Battle


The Reformed Broker, AKA Buddy Lembeck, here with today’s Market Recap

Much like Rhymefest* gives up the battle to Big Daddy Kane in the above video (my favorite of ’09 so far), the bears had to give it up to the bulls today as banks and techs stole the show.

The airlines went berzerk to the upside as well, as slumping oil prices failed to stage a meaningful rebound. 

My only comment on the airlines is that I’ve been flying for 30 years and the passenger experience hasn’t changed one iota, probably the only industry that can suck in perpetuity for owners, investors, employees and customers without any progress whatsoever.  Bravo, airline industry.

Here’s the 2 o ‘clock look at the sector:

Industry Top Performers
Intraday Price Performance % Change Market Cap
DELTA AIR LINES NEW [DAL] +16.45% $4.8 B
CONTL AIRLINES CL B [CAL] +14.90% $1.6 B
US AIRWAYS GROUP INC [LCC] +13.62% $408.6 M
A M R CP [AMR] +12.32% $1.3 B
UAL Corporation [UAUA] +12.10% $844.6 M

Tech earnings on tap tonight, including reports from Yahoo (YHOO) and Sandisk (SNDK), otherwise known as Dumb and Dumber.  I’m not playing either of those and I have no interest in hearing more about the Microsoft (MSFT)/ Yahoo advertising talks.  Who on earth still cares about that story?

Anyway, have a nice night and thanks for reading TRB today.

*Rhymefest has a mixtape dropping soon called The Manual.  According to legend, he was one of the only MC’s to beat Eminem on the freestyle battle circuit back in the day (’97).

Full Disclosure:  I have no positions in any stocks mentioned

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