Midway through trading Monday, the Dow traded down 0.83
percent to 13,893.18 while the NASDAQ fell 1.16 percent to
3,142.18. The S&P also fell, decreasing 0.89 percent to
Top Headline Making headlines this morning was Oracle's
) acquisition of Acme Packet (NASDAQ:
) for $29.25 per share, or roughly $1.7 billion. Following the
news, Acme Packet shares shot up over 22 percent, above the
purchase price. Adding to the rally was an earnings beat by Acme
Packet this morning, giving traders another reason to get bullish
on the stock, but the acquisition price has kept a ceiling on
Equities Trading UP Sonus Networks (NASDAQ:
) gained an impressive 14.08 percent to $2.60 in early trading as
the company got a boost from the Acme Packet acquisition
) was also up, gaining 8.14 percent to $47.96 after releasing an
update on the Hagerty lawsuit it was involved in, saying that it
was voluntarily dismissed on February 1st.
) traded up 12.60 percent to $14.60 on its first day of trading
since changing its ticker symbol from RIMM. The boost was
attributed to the company's commercial debut of BB10 during Super
Bowl Sunday and some strong sales data coming from the UK and
Equities Trading DOWN Herbalife (NYSE:
) took a hit in early trading, falling 3.62 percent to $33.80
after the FTC announced a probe into the company's dealings,
sending fear throughout the street that Bill Ackman's thesis may
indeed be right.
) was also down, falling 5.39 percent to $18.77 after the company
released a disappointing earnings release Monday morning.
) fell 5.69 percent to $46.42 after the company posted a beat on
earnings but worse than expected guidance Monday morning.
Commodities In commodity news, oil traded down 1.48 percent to
$96.32, while gold traded up 0.36 percent to $1,676.40.
Silver traded down 0.20 percent Monday to $31.76.
Eurozone In the eurozone this morning, markets fell lower,
lead downward by Italian shares as regulators began a formal
investigation into Banca Monte dei paschi di Siena following its
bailout request. The Spanish Ibex was down 0.89 percent while the
Italian MIB index was down a painful 1.75 percent.
Economics In economic news for Monday, factory orders came in
at 1.80 percent for December, mising the projected 2.30 percent
but beating the prior report of 0.00 percent by a long shot.
(c) 2013 Benzinga.com. Benzinga does not provide investment
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