Mid-way through trading Wednesday, the Dow traded down 1.44
percent to 12,572.25 while the NASDAQ fell 1.23percent to
2,848.53. The S&P also fell, decreasing 1.33 percent to
Leading into the latest lock-up expiration, shares of Facebook
) shot up over 12 percent on a massive 200 million share trade
volume. Speculation is out on whether or not Facebook may be
buying up the newly unlocked shares.
Equities Trading UP
Abercrombie & Fitch (NYSE:
) rose further towards the end of trading, up 33.96 percent at
$41.77 after posting a big earnings beat and raising its guidance
Shares of Woodward (NASDAQ:
) were also on the rise, up 8.54 percent to $34.81 following an
earnings beat and optimistic guidance after the close
MEMC Electronic Materials (NYSE:
) rallied 4.82 percent to $2.29 as a possible technical turn.
Equities Trading DOWN
) continued its fall, declining 19.78 percent in early trading to
$11.92 after the company posted an earnings miss Tuesday and was
downgraded to Neutral at Macquarie.
Trina Solar Limited (NYSE:
) also took a hit, dropping 17.85 percent throughout the day to
$2.67 after a shipping estimate cut and a Deutsche Bank price
target cut this morning
Shares of BGC Partners (NASDAQ:
) was also falling, trading down 9.43 percent to $3.32 following
a hit in revenue due to a trading slump.
In commodity news, oil traded up 1.01 percent to $86.23, while
gold traded up 0.12 percent to $1,726.80.
Silver traded up 0.21 percent Wednesday to $32.70.
European shares fell mostly this morning among continued Greek
and Spanish fears.
The EU's Olli Rehn made a statement in Brussels stressing the
importance of fiscal council, and noted the risks for nominal
Spain targets next year. Most importantly, he said that Spain's
2014 deficit steps have fallen short.
In economic news, MBA mortgage applications came in at 12.6
percent, well above the previous report of -5.0 percent.
Retail sales were also reported, coming in at -0.3 percent,
just below the expected -0.2 percent, and well below the prior
reading of 1.1 percent, while core retail sales came in at -0.3
percent as well, much below the expected 0.4 percent, and well
below the prior report of 1.1 percent.
The purchasing price index (PPI) year over year came in at
came in at 2.3 percent, below the expected 2.6 percent, and above
the prior rating of 2.1 percent. The core PPI year over year came
in at 2.1 percent, below the expected 2.5 percent and the
previous report of 2.3 percent.
The purchasing price index (PPI) month over month was also
reported, coming in at -0.2 percent, below the expected 0.2
percent and well below the prior report of 1.1 percent, while the
core PPI month over month was reported at -0.2 percent, below the
expected 0.1 percent and the previously reported 0.0 percent.
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