Towards the end of trading Friday, the Dow traded down 1.45
percent to 13,352.63 while the NASDAQ fell 2.09 percent to
3,008.68. The S&P also fell, decreasing 1.58 percent to
Equities Trading UP
Riverbed Technology (NASDAQ:
) consolidated its gain, trading up 11.55 percent to $23.08 after
reporting an earnings beat following the market close on
) also consolidated its rally, remaining up 9.53 percent to
$39.41 after posting an earnings beat earlier Friday morning.
Orient-Express Hotels (NYSE:
) enjoyed some gains as well, rising 6.79 percent to $11.80
despite a downgrade at JP Morgan.
Equities Trading DOWN
Marvell Technology (NASDAQ:
) fell 13.93 percent to $7.60 after its CFO resigned Thursday,
leading a slew of analysts to lower their price target for the
Shares of AMD (NYSE:
) continued to decline, falling 16.51 percent to $2.19 after
reporting a greater earnings loss than expected Thursday and
providing less than reassuring guidance to investors.
Chipotle Mexican Grill (NYSE:
) took a beating as well Friday, trading down 15.31 percent to
$242.14 after posting an earnings miss after the close Thursday,
validating David Einhorn's public short of the company.
In commodity news, oil traded down 2.15 percent to $90.12, while
gold traded down 1.26 percent to $1,722.70.
Silver traded down 0.84 percent Friday to $32.03.
This morning the Euro showed little movement after the close of
the first day of the EU summit. While leaders held press
conferences reassuring investors that Greece would not leave the
EU, their message did little to help the markets.
As a result of the summit so far, leaders have agreed to
appoint a single person to oversee the banks of the EU. While
some of the terms and powers of the regulator are still in
contention, its still a step in the direction of stability for
the Euro zone.
In economic news, existing home sales were reported at 4.75
million, equal to estimates and slightly below the prior figure
of 4.83 million.
Existing home sales month over month came in slightly below
expectations at -1.7 percent, and drastically below the previous
report of 8.1 percent.
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