Midway through trading Friday, the Dow traded down 1.23
percent to 13,382.63 while the NASDAQ fell 1.93 percent to
3,013.44. The S&P also fell, decreasing 1.32 percent to
Equities Trading UP
Riverbed Technology (NASDAQ:
) traded up 11.02 percent to $23.59 after reporting an earnings
beat following the market close on Thursday.
) also rose, increasing 10.06 percent to $39.60 after posting an
earnings beat earlier Friday morning.
Shares of Capital One Financial (NYSE:
) were also up, rising 5.58 percent to $60.50 after an earnings
beat Thursday and a subsequent increase in price target from
Nomura this morning.
Equities Trading DOWN
Marvell Technology (NASDAQ:
) fell 13.82 percent to $7.61 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 14.89 percent to $2.23 after
reporting a greater earnings loss than expected Thursday and
providing less than reassuring guidance to investors.
) traded down 9.97 percent to $72.09 after a downgrade by
Jefferies & Co.
In commodity news, oil traded down 0.48 percent to $91.66, while
gold traded down 1.45 percent to $1,719.40.
Silver traded down 0.89 percent Friday to $31.98.
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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