Don't let it get away!
Keep track of the stocks that matter to you.
Help yourself with the Fool's FREE and easy new watchlist service today.
It was a busy day on the market on the first full day of earnings season. Alcoa (NYSE: AA ) kicked off the reporting period on an up note after delivering earnings in line but better-than-expected revenues. The aluminum maker is often seen as a bellwether for the economy, and the Dow Jones Industrial Average (INDEX: ^DJI ) rose 61 points, or 0.5%, in response. Despite trading up most of the day, however, Alcoa finished down 0.2%.
After falling for two straight days in the wake of numerous reports on problems with its new Dreamliner jet, Boeing (NYSE: BA ) rebounded strongly with gains of 3.6% today as it defended the 787. It issued a statement saying that it has "extreme confidence" in the new jet and its chief engineer said the plane was 100% safe. This announcement comes despite ongoing federal investigations into a battery fire in one of its planes on Monday. Just this week, a separate 787 experienced a fuel leak, and Nippon Airways canceled a 787 flight after problems with the plane's brakes. Expect continued volatility with the stock until this issue straightens out.
Bank of America (NYSE: BAC ) shares, meanwhile, tumbled 4.6% after Credit Suisse downgraded the stock from outperform to neutral with a largely valuation-based argument. Analyst Moshe Orenbuch also expressed concern about bad mortgages and future mortgage-related lawsuits. Shares of the financial giant had gained nearly 30% in just two months so perhaps the stock had become overbought.
Hewlett-Packard (NYSE: HPQ ) continued to make gains, climbing 3% on a research note that said the company could be worth $29 a share if broken up. As its core PC business shrivels up, the stock is now seen as a value play by many analysts. Its share price tumbled through most of 2012, but has now gained 35% since the Autonomy write-off.
Outside the Dow, Facebook (Nasdaq: FB ) topped $30 for the first time since July, climbing 5.3%, apparently in response to a mysterious press conference next week. The social network's invitations said simply, "Come and see what we're building," a message Wall Street seems to have interpreted as a new revenue-generating product.
The battle of Herbalife (NYSE: HLF ) heated up once again as fund manager Daniel Loeb took an 8% stake in the company. That stock had been battered just a few weeks ago after fellow fund manager Bill Ackman disclosed a short position in the stock and called the company a "pyramid scheme." Shares of the health supplement company have battled back since then and gained another 4.2%. Heavy trading is likely to continue tomorrow as Herbalife has scheduled an investor conference to respond to Ackman's charges. The SEC also announced an inquiry into the company today.
Facebook is one of many stocks that Motley Fool Co-founder David Gardner has recommended over the years. His picks have given investors a 99% chance of beating the market and a 70% chance of doubling the market's return. Now you have a chance to join him. His Supernova newsletter is accepting new members, but only for a limit time. Find out more about this special offer by clicking here.