Monday, December 29, 2014

Indexes Break Winning Streak; Anadarko Soars, Barnes & Noble Tumbles

Stocks took a breather Thursday after three consecutive all-time highs for the S&P 500.

The Dow Jones Industrial Average ended essentially flat, losing less than half a point to close at 16,572.55. Nonetheless, this was still its third-highest close in history.

The S&P 500 lost 2.13, or 1.1% to finish at 1,888.77, backing off Wednesday's record high.

Big winners today included Anadarko Petroleum (APC), which rose 14.5% on news it had a $5.15 billion settlement related to its purchase of Kerr-McGee and the Tronox bankruptcy.

Walgreen (WAG) and Rite Aid (RAD) ended the day up more than 1% and 2%, respectively, as investors were happy to see March same-store sales rise, even if they didn't meet expectations.

Losers included Citigroup (C), which slipped 1.2% on news of a fraud investigation and analyst downgrade.

Barnes & Noble (BKS) tumbled 13.5% on news that Liberty Media (LMCA) is selling most of its 17% stake in the bookseller.

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