Midway through trading Monday, the Dow traded down 0.29
percent to 12,988.30 while the NASDAQ fell 0.07 percent to
3,008.06. The S&P also fell, decreasing 0.27 percent to
Shocking investors this morning was a Goldman Sachs report on
) this morning, upgrading the company two levels from Sell to
Buy. The upgrade cited a fully adjusted market price to the
currently weak PC market, and caused the company to rally almost
7 percent on massive volume following the market opening.
Equities Trading UP
Deckers Outdoor (NASDAQ:
) was among the mornings winners, trading up 7.00 percent to
$40.97 following a Sterne Agee upgrade to buy and an increase in
price target from $32 to $65.
Shares of Supervalu (NYSE:
) rose 7.77 percent to $2.57 after Bloomberg reported that the
company's talks with Cerberus had started again.
Advanced Micro Devices (NYSE:
) also saw a boost, rising 6.59 percent to $2.34, continuing its
5 day win streak and raising its gains over the period to 23.5
Equities Trading DOWN
) traded down 1.07 percent to $32.03 after the company announced
its Chief Marketing Officer would be leaving.
SunCoke Energy (NYSE:
) was also down, falling 7.32 percent to $15.06 following its
form 8k filing on Friday.
Shares of TPC Group (NASDAQ:
) were also down, dropping 6.83 percent to $44.75 after Innospec
announced the withdrawal of its offer for the company Monday
In commodity news, oil traded up 0.44 percent to $89.30, while
gold traded up 0.34 percent to $1,716.80.
Silver traded up 0.46 percent Friday to $33.66.
In the eurozone this morning, news came out saying that EUN
ministers may be able to reach an ECB oversight deal by December
4th. Germany's Wolfgang Schauble was quoted saying the that Greek
debate was not simple in Germany, continuing that the crisis
resolution course must be step by step.
Over all, European markets were up across the board this
morning following the release of manufacturing PMI's, and
seemingly ignored the downgrade of the bailout funds.
In economic news Monday morning, construction spending was
reported at 1.4 percent, above the expected 0.5 percent and the
prior release of 0.6 percent.
Markit PMI was also reported, coming in at 52.8, slightly
above the projected 52.1 and the previous report of 52.4.
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