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Market Wrap-Up for Apr.16 (GS, GE, BAC, FCX, MAT, MSFT, more)

Posted: 4/16/2010 4:14:00 PM

The market was sitting quietly on the downside this morning, until news broke that the SEC accused Goldman Sachs ( GS ) of defrauding investors.

The market has been way overdue for a clock-cleaning and we got a triple-digit market drop. We almost forgot what that looked like!

Some of today's early earnings winners had included names like Mattel ( MAT ) and Gannett ( GCI ) , but both companies saw the bulk of their early gains evaporate. Financials dropped alongside Goldman Sachs. The hardest hit names included Bank of America ( BAC ) , Morgan Stanley ( MS ) and American Express ( AXP ) . Elsewhere, commodity plays were weak. Some of the hardest hit names were Massey Energy ( MEE ) , Freeport McMoran ( FCX ) , and Diamond Offshore ( DO ) .

As we look ahead to next week, we will preparing to hear results from the likes of Johnson & Johnson ( JNJ ) , Coca-Cola ( KO ) , Microsoft ( MSFT ) and Coach ( COH ) . Be sure to check out our updated dividend stock watchlists this weekend on Premium.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here