Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.
What Happened: On this day in 2008, the Federal Deposit Insurance Corporation seized control of Wachovia.
Where The Market Was: The Dow closed at 11,143.13 and the S&P 500 traded at 1,213.27.
Nike (NYSE: NKE) was trading down 5% in pre-market action after reporting lower than expected revenues last quarter and slashed its revenue projections. The company cited high demand for its athletic gear, but the broken supply chain is giving Nike issues in Vietnam and Indonesia.
Citigroup Inc (NYSE: C), Barclays PLC (NYSE: BCS), and UBS Group AG (NYSE: UBS) strategists have discounted the magnitude of Evergrande Property (OTC:EVGPF) (OTC:EVGPY) crisis relative to the Lehman Brothers…
Benzinga has examined the prospects for many investor favorite stocks over the past week.
Last week's bullish calls included oil refiners, semiconductor makers and Leon Cooperman picks.
Leon Cooperman, chairman and CEO of Omega Advisors, reaffirmed his position as a "fully-invested bear" Thursday on CNBC's "Squawk Box."
The cyclical conditions are not ripe for a significant decline and based on current interest rates, most companies are not overvalued, Cooperman said.