Following the market opening Thursday, the Dow traded up 0.81
percent to 13,202.94 while the NASDAQ rose 1.31 percent to
3,016.29. The S&P also rose, increasing 0.97 percent to
There were reports that Advance Auto Parts (NYSE:
) had hired Blackstone to explore a sale of the company. This
lead to a 15.2 percent spike in its share price, and a nice boost
to competitors Autozone (NYSE:
), Pep Boys (NYSE:
), and O'Reilly Automotive (NASDAQ:
Equities Trading Up
JDA Software (NASDAQ:
) consolidated its gain towards the end of trading, remaining up
17.40 percent at $44.79 Thursday after the company announced a
$1.9 billion going private deal midway through the morning.
Radian Group (NYSE:
) continued to gain slightly, up 14.93 percent to $5.39 after the
company reported a major EPS and revenue beat Thursday
Shares Heartland Payment Systems (NYSE:
) traced back some of their gains, remaining up 9.20 percent to
$28.48 after posting an earnings beat Thursday morning
Equities Trading DOWN
Cirrus Logic (NASDAQ:
) recovered slightly, remaining down 11.35 percent at $36.15
following a downgrade at Feltl and Company.
) slowed its fall, down 30.37 percent to $13.80 despite an
earnings beat and a reaffirmation of its fiscal year
) remained down 16.47 percent at $21.15 after a downgrade at
In commodity news, oil traded up 0.92 percent to $88.63, while
gold traded down 0.13 percent to $1,716.80.
Silver traded down 0.06 percent Thursday to $32.25.
In the Eurozone, the British manufacturing PMI came in at
47.5, below the estimated 48.1 and the prior figure of 48.4.
Markets were down across the board as more uncertainty about
the finances of Greece and Spain continued. Germany's Angela
Merkel made another statement underlining her country's interest
in seeking a budget compromise, highlighting Ireland as an
example of what financial reforms are capable of.
The Irish government also released a statement Thursday
morning, slashing its GDP growth guidance from 2.2 percent to 1.4
A big day of economic news, with reports that were delayed
earlier in the week starting to come in. First off, ADP non-farm
payrolls, an indicator of what we might see in tomorrow's
unemployment release, was reported at 158 thousand, above the
expected 131 thousand, and well above the prior report of 88.2
The US Markit PMI came in at 51.0, slightly below economists'
estimates and the prior figure of 51.3.
The CB consumer confidence came in at 72.2, slightly below the
expected 72.5, but above the prior figure of 70.3.
ISM manufacturing prices were also reported, coming in at
55.0, below the 56.5 estimate and the previous report of 58.0.
The ISM manufacturing index was reported at 51.7, above the
expected 51.2 and the last release of 51.5.
Construction spending month over month was reported at 0.6
percent, just below the 0.7 percent estimate, and well above the
prior report of -0.1 percent.
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