By InTheMoneyStocks.com on April 26th, 2010 1:03pm Eastern Time
Today the Dow Jones Industrial Average is higher by $31.00 points to $11,235.00. Today's upside action follows last Friday's strong rally. While the overall market remains positive there are some leading stock names that are down sharply and should be watched.
The first stock that is getting hit to the downside today after reporting earnings is BlackRock, Inc. (NYSE:BLK). Today the stock is lower by $16.50 points or 7.83% to $194.57. The company reported earnings that were worst than analysts expected, as a result the stock is paying the price today. BLK does have some daily chart support around the 190.00 level. This level could be utilized for an intra day trade to the long side.
The next stock that is trading down sharply is Charles River Laboratories (NYSE:CRL). This company provides research models and laboratory animal support expertise to help its global partners advance research and drug development. The company announced today that it planned to acquire the Chinese medical company WuXi Pharma Tech Inc (NYSE:WX) for $1.6 billion.
Goldman Sachs Group, Inc. (NYSE:GS) is another major name that is selling off sharply again. The stock is trading lower by $4.35 to $153.05. Goldman Sachs Group Inc. has been on the hot seat ever since April 16th, 2010 when the SEC charged them with fraud. Goldman Sachs will have daily chart support around $148.00.
These are some of the largest point losers of the day. This comes as the Dow Jones Industrial Average is trading higher on the session. Stock that are negative when the indexes are positive should be watched closely as they usually represent weak relative strength intra-day.
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