Friday, July 16, 2010

US HOT STOCKS: Goldman Sachs, Google, BP Active In Late Trading

U.S. stocks ended mixed Thursday. The Dow Jones Industrial Average fell 7.41 points to 10359.31 and the Nasdaq Composite declined 0.76 point to 2249.08, but the Standard & Poor's 500 edged up 1.31 points to 1096.48. Among the companies whose shares are actively trading in the after-hours session are Goldman Sachs Group Inc. (GS), Google Inc. (GOOG) and BP PLC (BP).

Goldman shares climbed 4.6% to $151.89 in late trading, adding to gains from Thursday's trading session, after the Securities and Exchange Commission said the bank will pay $550 million and reform its business practices to settle SEC charges that the Wall Street firm misled investors in a subprime mortgage product just as the U.S. housing market was starting to collapse. Goldman agreed to settle the charges without admitting or denying the allegations.

Google's second-quarter earnings climbed 24% as the Internet giant's advertising revenue accelerated growth, and the company noted very strong growth in its emerging businesses. Still, shares fell 4.4% to $472 in after-hours trading, as the company's earnings missed Wall Street's expectations. (more)

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