Midway through trading Wednesday, the Dow traded up 0.57
percent to 15,277.76 while the NASDAQ declined 0.20 percent to
3,721.45. The S&P rose, gaining 0.09 percent to 1,685.55.
Top Headline Texas Instruments (NASDAQ:
) narrowed its third-quarter forecast.
Texas Instruments expects Q3 earnings of $0.51 to $0.55 per
share on revenue of $3.15 billion to $3.29 billion. Analysts were
expecting earnings of $0.53 per share on sales of $3.23 billion.
In July, the company had expected sales of $3.09 billion to $3.35
Equities Trading UP Xoom (NASDAQ:
) shot up 4.17 percent to $31.96 after the company priced its
of 4,403,270 shares of its common stock at a price of $30.50 per
Shares of Polycom (NASDAQ:
) got a boost, shooting up 8.34 percent to $10.78 after the
company announced the
repurchase of $400 million
of its common stock.
) was also up, gaining 20.53 percent to $57.82 after the company
announced its plans to
buy IBM's customer care unit
for $505 million.
Equities Trading DOWN Shares of Restoration Hardware Holdings
) were down 7.46 percent to $70.39 on Q2 results.
) shares tumbled 5.78 percent to $466.05 as the company
unveiled two new iPhones
yesterday. Analysts at Bank of America downgraded the stock from
Buy to Neutral.
) was down, falling 6.17 percent to $7.84. SunEdison announced
the proposed public offering of 30 million shares of common
Commodities In commodity news,
oil traded up 0.40 percent
to $107.82, while gold traded down 0.09 percent to $1,362.80.
Silver traded up 0.60 percent Wednesday to $23.16, while
copper rose 0.15 percent to $3.27.
Eurozone European shares today. The Spanish Ibex Index surged
0.84 percent, while Italy's FTSE MIB Index rose 1.33 percent.
Meanwhile, the German DAX gained 0.58 percent and the French CAC
40 climbed 0.06 percent while U.K. shares rose 0.07 percent.
Economics The MBA's index of mortgage application activity
dropped 13.5% last week from the previous week.
US wholesale inventories increased 0.1% in July, while
wholesale sales rose 0.1%.
Crude oil supplies declined by 200,000 barrels for the week
ended September 6, the US Energy Information Administration
reported. However, analysts were expecting a fall of 2 million
The Treasury is set to auction 10-year notes.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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