Midway through trading Thursday, the Dow traded down 0.15
percent to 13,057.95 while the NASDAQ fell 0.04 percent to
2,980.41. The S&P also fell, decreasing 0.07 percent to
As a heads up for the week, we have now entered the most busy
period of earnings season, so watch for some serious price
After the close today, both Amazon (NASDAQ:
) and Apple (NASDAQ:
) report earnings. The release will shed new light on the tablet
war between the two companies, and could provide insight into
whether or not Amazon is overtaking Apple in the struggle.
Equities Trading UP
PSS World Medical (NASDAQ:
) held onto its gains, up 32.73 percent to $28.67 after it was
announced that the company would be acquired by McKesson for
$1.46 billion Thursday morning.
Angie's list (NASDAQ:
) remained up as well, trading up 24.86 percent to $11.35 after a
slight earnings beat and an upgrade at Barrington Research this
Shares of Tenneco (NYSE:
) rose 16.54 percent to $31.22 after the company posted a
significant earnings beat Thursday morning.
Equities Trading DOWN
Spirit AeroSystems (NYSE:
) continued its fall, dropping 31.16 percent to $14.91 after the
company revealed $590M in charges in its earnings statement and a
subsequent cut at Buckingham Thursday.
) slowed its fall a bit, down 19.70 percent to $13.00 Stifel
Nicolaus lowered its price target on the company despite its
strong earnings after the close Wednesday.
Shares of The New York Times (NYSE:
) also continued to fall, dropping 14.55 percent to $9.10
following the company's big earnings miss Thursday morning.
In commodity news, oil traded down 0.48 percent to $88.30, while
gold traded up 0.76 percent to $1,718.40.
Silver traded up 0.42 percent Thursday to $32.04.
In the Euro zone this morning it was announced that officials
were seeking to give Greece two more years to make the necessary
cuts to meet its budget goals. Preliminary findings from the IMF
and the Troika have shown that Greece would need between 16 and
20 billion Euros to execute this plan.
The announcement sent European markets higher, as investors
gained more confidence in the commission's ability to resolve key
matters, with much of the rise coming from Greek shares
Thursday was particularly heavy in economic news. Durable goods
orders came in at 9.9 percent, above the expected 7.5 percent,
and well above the prior figure of -13.1 percent. Durable goods
ex transportation came in at 2 percent, beating the expected 0.9
percent and the prior figure of 2.1 percent.
The Chicago fed national activity index came in flat at 0,
above the expected -0.20 and the previous number of -1.17.
Initial jobless claims were also reported, coming in at 369
thousand, slightly below the expected 370 thousand and the prior
figure of 392 thousand. Continuing claims were reported as well,
coming in at 3.254 million, below the expected 3.260 million, and
the previous report of 3.256 million.
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