August 17th, 2011
07:17 PM ET

Stocks battle back to end mixed

Some highlights from the day's business news:

U.S. stocks ended a thinly traded session mixed Wednesday as investors weighed the latest corporate results against global economic and debt concerns.

The Dow Jones industrial average rose 4 points, or less than 0.1%, to close at 11,410. The S&P 500 added 1 point to 1,193. The Nasdaq composite fell 12 points to 2,511.

Stocks opened higher following upbeat quarterly results from Target. But the gains faded later in the day and investors gravitated toward more defensive stocks that offer rich dividends.

American Express and Coca Cola led gainers on the Dow. Verizon and AT&T were also strong.

The broader market was held back by weakness in shares of big technology companies. Dell plunged 10% after the computer maker issued a disappointing sales outlook late Tuesday. Hewlett-Packard tumbled over 4%, while Cisco and Intel both lost about 1%.

GM to build electric Cadillac

GM said Wednesday that it will go forward with plans to build a production model an electric Cadillac luxury coupe.

The Converj Concept, which was first presented at the 2009 Detroit Auto Show will be called the Cadillac ELR.

The Cadillac ELR will be GM's luxury version of the Volt.

"The concept generated instant enthusiasm," vice president-Cadillac Marketing Don Butler, said. "Like other milestone Cadillac models of the past, the ELR will offer something not otherwise present - the combination of electric propulsion with striking design and the fun of luxury coupe driving."

Abercrombie drops nearly 8% after 'Jersey Shore' diss

A day after dissing The Situation, the situation for clothing retailer Abercrombie & Fitch's stock is not pretty.

The stock price for Abercrombie & Fitch fell nearly 10% at one point on Wednesday and finished nearly 8% lower for the day. It was the first trading session after the clothing retailer offered "The Jersey Shore" star Michael "The Situation" Sorrentino and other members of the hit MTV reality show "substantial payment" if they stopped wearing Abercrombie-branded clothes.

But what more likely moved the stock was a retreat from a recent run-up after the company reported earnings that beat analysts' expectations, and gave tepid comments about its outlook.

- CNNMoney.com's Ben Rooney, Laurie Segal and Aaron Smith contributed to this report.

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Filed under: Business • Economy
soundoff (26 Responses)
  1. Joey Isotta-Fraschini

    Most of the stock that we own (my wife and I) is from Exxon and Microsoft. We also have mineral rights from acres I purchased in 1988. I love my family and what I have is there's. I havew always felt thatt stocks always up and down. You can make so much money with kmolege and luck. Plese exuse me. My sleepy and medicne.

    August 17, 2011 at 10:07 pm | Report abuse |
  2. gung hoe

    Hey jazzzz and jesus replied no one goes to the father except through me

    August 17, 2011 at 11:33 pm | Report abuse |
  3. gung hoe

    Also yes iam a guy but straight as a arrow sorry theres room for you on our team

    August 17, 2011 at 11:38 pm | Report abuse |
  4. Jazzzzzzzz

    @ gung hoe... You are correct, but what conversation was your reply from. I won't be able to blog for the next couple days so lets meet Friday night, say 10:30 NY time for a Bible discussion pleasessssss I lost a friend and don't have anyone to talk with about God.
    Sincerly Mary

    August 18, 2011 at 6:26 am | Report abuse |
  5. Jazzzzzzzz

    btw, I'll post on the first thread at the time and I don't care that your a guy, I just need some one to talk with about God, if you don't mind. Bye for Now.

    August 18, 2011 at 6:36 am | Report abuse |
  6. Cult of Personality

    NYSE, NASDAQ, S&P 500 vs. the roulette wheel @ Caesar's Palace Hotel & Casino...Either way, you're gonna crap out...

    August 18, 2011 at 8:18 am | Report abuse |
  7. Jazzzzzzz

    @ gung hoe... sorry but i'd rather forget it, my stomach just can't take this. sorry no one can take the place of my friends conversations

    August 18, 2011 at 8:20 am | Report abuse |
  8. Joey Isotta-Fraschini

    Certamente, non era JIF alle 10:07.

    August 18, 2011 at 10:21 am | Report abuse |
  9. banasy©

    Not banasy© @ 8:48.
    It's a good try, however.
    Jazzzz, I am sorry.

    August 18, 2011 at 12:41 pm | Report abuse |
  10. TBone

    Hey look at the history, around back to school time the stock market looks like a roller coaster, some kids start early august so dad has to make up the shortage some way, so he play the short game. this is repeated all the way until Labor day.

    August 18, 2011 at 5:11 pm | Report abuse |
  11. Tom

    [youtube=https://www.youtube.com/watch?v=U5X4N2exOsU&w=640&h=390]

    August 18, 2011 at 9:13 pm | Report abuse |
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