As the last trading day of 2013 came to a close, the Dow
traded up 0.11 percent to 16,524.15 while the NASDAQ surged 0.30
percent to 4,166.82. The S&P also rose, gaining 0.10 percent
Top Headline Warren Buffett's Berkshire Hathaway (NYSE:
) announced its plans to buy the flow improver business of
Phillips 66 (NYSE:
) for about $1.4 billion of stock.
Equities Trading UP Shares of Hertz Global Holdings (NYSE:
) gained steadily on Tuesday's session, rising 9.38 percent to
$28.33 after the company
shareholder rights plan, signaling to the street that activist
inestors had come into play in the name.
Phillips 66 (NYSE:
) rose 2.76 percent to $76.78 after Berkshire Hathaway (NYSE:
) announced its
plans to buy
the flow improver business of Phillips 66 for about $1.4 billion
Marvell Technology Group (NASDAQ:
) was also up, gaining 4.58 percent to $14.39 after KKR & Co
LLP reported a 6.8% stake in the company.
Equities Trading DOWN Shares of Exact Sciences (NASDAQ:
) were down on the last session of 2013, falling 5.50 percent to
$11.60 despite little news on the name.
) tumbled 1.13 percent to $42.06 after analysts at Benchmark
downgraded the stock from Buy to Hold and lowered the target
price from $49 to $46.
Mechel OAO (NYSE:
) was down, falling 2.33 percent to $2.52 after the company
appointed Senior Vice-President for Economics and Management Oleg
Korzhov as its Chief Executive Officer.
Commodities In commodity news,
oil traded down 1.01 percent
to $98.29, while gold traded down 0.25 percent to $1,201.40.
Silver traded down 0.98 percent Tuesday to $19.38, while
copper rose 0.35 percent to $3.40.
Eurozone European shares
today. The Spanish Ibex Index rose 0.15 percent, the French CAC
40 rose 0.47 percent and U.K. shares gained 0.26 percent.
Economics The ICSC-Goldman Sachs store sales index rose 1% in
the week ended Saturday versus the earlier week.
The Johnson Redbook Retail Sales Index gained 4.5% in the
fourth week of December, versus a 3.9% rise in the earlier
The S&P/Case-Shiller home price index gained 13.6% in the
year ended October.
The Chicago PMI fell to 59.10 in December, versus a prior
reading of 63.00. However, economists were expecting a reading of
The Conference Board's consumer confidence index surged to
78.10 in December, versus a prior reading of 70.40. However,
economists were expecting a reading of 76.00.
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