Towards the end of trading Wednesday, the Dow traded up 0.08
percent to 13,117.47 while the NASDAQ fell 0.34 percent to
2,977.86. The S&P also fell, decreasing 0.14 percent to
Trading resumed on the NASDAQ, NYSE, and other major US exchanges
Wednesday after having been suspended for 2 days by the effects
of hurricane Sandy.
While we're happy to see the markets open again, we here at
Benzinga wanted to say that what is more important is that
everyone hopefully ended up safe. To those still suffering the
effects of the storm, the 8.2 million or so buildings without
electricity, we wish the best.
Equities Trading UP
Warnaco Group (NYSE:
) remained up 38.29 percent to $70.36 after it was announced that
PVH would acquire the company for $2.9 billion in cash.
Schiff Nutrition International (NYSE:
) settled a bit, up 45.86 percent at $33.83 after Bayer announced
it would acquire the company for $1.2 billion.
Shares of Netflix (NASDAQ:
) shot up over 20 percent, consolidated their gains around 12
percent at $78.50 following a series of circuit breakers. The
spike was a result of Carl Ichan's announcement that he owned
nearly 10 percent of the company, and sought to push it towards
Equities Trading DOWN
Western Union (NYSE:
) remained down 28.56 percent on massive volume to $12.81 after a
downgrade at D.A. Davidson Wednesday morning.
Riverbed Technology (NASDAQ:
) also remained at a low, down 18.92 percent at $18.34 following
a pair of downgrades at Jefferies & Co and Wunderlich
Shares Vringo (NYSE:
) fell as much as 45 percent, but calmed down around 35 percent
at $2.56 after word got out that the company had lost its case
against Google (NASDAQ:
In commodity news, oil traded up 0.61 percent to $88.71, while
gold traded up 0.55 percent to $1,721.50.
Silver traded up 0.43 percent Wednesday to $32.25.
In the eurozone, markets were up across the board as Greece
prepares its budget. German chancellor Angela Merkel came out
making some comments, saying the eurozone could use a dynamic
economy like that of Turkey's, hinting at the possibility of
Turkey joining the EU in the near future.
In economic news, the employment cost index came in at 0.4
percent, slightly below the expected reading and previous figure
MBA Mortgage Applications were reported as well, coming in at
-4.8 percent, well above the prior figure of -12.0 percent.
The Chicago PMI was also reported, coming in at 49.9, below
the expected 51, and slightly above the previous report of
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