Toward the end of trading Tuesday, the Dow traded up 0.32
percent to 15,468.26 while the NASDAQ surged 0.32 percent to
3,668.57. The S&P also rose, gaining 0.39 percent to
Top Headline Late in the afternoon, billionaire investor and
head of Icahn Enterprises (NYSE:
) Carl Icahn announced his fund had a sizable long position in
). The news sent Apple shares spiking, gaining roughly 4 percent
in seconds. Icahn's position, which Bloomberg reported to be over
a billion dollars, was built up over the last month, and has
given shares some new life.
Equities Trading UPAvanir Pharmaceuticals (NASDAQ:
) shot up 3.22 percent to $4.64 after the company announced an
agreement with Merck & Co
) to co-promote Merck's type 2 diabetes therapies.
Shares of Goodrich Petroleum (NYSE:
) were up as well, gaining 11.06 percent to $21.69 after Wells
Fargo reported it expects a TMS joint venture from the
Osiris Therapeutics (NASDAQ:
) was also up, gaining 125.61 percent to $24.05 after the company
strong efficacy for Grafix
to treat diabetic foot ulcers.
Equities Trading DOWN Shares of Orbitz Worldwide (NYSE:
) were down 13.03 percent to $10.21 after the company reported
that PAR Capital Management has sold 8.1 million of its 24.6
million shares of Orbitz Worldwide stock.
) shares tumbled 6.51 percent to $66.16 after the company
reported downbeat Q3 results.
) was down, falling 10.75 percent to $74.95 after the company
reported wider-than-expected Q2 loss.
Commodities In commodity news,
oil traded up 0.46 percent
to $106.60, while gold traded down 0.87 percent to $1,322.60.
Silver traded up 0.31 percent Tuesday to $21.47, while copper
rose 1.15 percent to $3.31.
Eurozone European shares were
higher on upbeat ZEW survey.
The Spanish Ibex Index gained 0.47 percent and the Italian FTSE
MIB Index rose 0.68 percent. Meanwhile, the German DAX gained
0.68 percent and the French CAC 40 rose 0.51 percent while U.K.
shares gained 0.57 percent.
Economics The NFIB small-business optimism index gained 0.6
points to 94.1 in July. The ICSC/Goldman Sachs Retail Chain Store
Sales Index dropped 0.2 percent in the latest week ended Saturday
versus the previous week. US retail sales rose 0.2 percent in
July, versus economists' expectations for a 0.3 percent increase.
US imports increased 0.2 percent in July, versus economists'
estimates of a 0.8 percent rise. The Johnson Redbook Retail Sales
Index rose 3.7 percent y/y in the first week of August. US
business inventories came in flat in June. However, economists
were expecting inventories to increase 0.2 percent in June.
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advice. All rights reserved.
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