Mid-way through trading Thursday, the Dow traded down 0.38
percent to 13,194.63 while the NASDAQ fell 0.67 percent to
2,993.63. The S&P also fell, decreasing 0.55 percent to
) saw over an 11 percent gain this morning as Sprint made a bid
for the company of $2.90 perc share. Now its just a matter of
whether or not the board will accept the offer.
Equities Trading UP
Best Buy (NYSE:
) saw a big boost Thursday, rising 15.65 percent to $14.08
following a report this morning that Richard Schulze would be
offering between $5 billion and $6 billion for the company.
Shares of SollarCity (NASDAQ:
) saw a lot of attention following their IPO this morning,
trading up 51.13 percent to $12.09.
NII Holdings (NASDAQ:
) was also up, gaining 11.01 percent to $5.95 on a strong
Equities Trading DOWN
Rigel Pharmaceuticals (NASDAQ:
) fell 35.82 percent to $5.41 Thursday morning following a wave
of analyst ratings yesterday.
Harbinger Group (NYSE:
) was also down, falling 26.52 percent to $7.51 after the company
priced its 20 million share secondary offering at $7.50 per
Shares of Allot Communications (NASDAQ:
) were down as well, dropping 12.24 percent to $17.64 following a
downgrade at Wunderlich Securities this morning.
In commodity news, oil traded down 0.38 percent to $86.44, while
gold traded down 1.17 percent to $1,696.40.
Silver traded down 1.38 percent Thursday to $32.33.
European markets were largely down this morning amid talks
concerning the effectiveness of a European banking union, lead
downwards by the German DAX.
Thursday morning was another big day for economic releases, with
initial jobless claims coming in at 343 thousand, below the
expected 369 thousand and the prior figure of 372 thousand, while
continuing claims were reported at 3.198 million, slightly below
the anticipated 3.21 million and the previous report of 3.221
PPI year over year was reported as well, coming in at 1.50
percent, below the expected 1.80 percent and the prior report of
2.30 percent, while PPI month over month was reported at -0.8
percent, below the anticipated -0.50 percent and the prior
release of -0.20 percent.
Core CPI year over year came in at 2.2 percent, matching the
street estimates, and slightly higher than the previous 2.1
percent, while core CPI month over month was reported at 0.1
percent, again equal to consensus while beating the prior figure
of -0.20 percent.
Advance retail sales were also reported, coming in at 0.3
percent, slightly below the anticipated 0.5 percent, but beating
the prior report of -0.30 percent. Advance retail sales excluding
autos came in flat at 0.00 percent, equal to estimates and the
prior report, while advance retail sales excluding autos and gas
came in above the expected 0.40 percent at 0.70 percent, well
above the prior figure of -0.1 percent.
Finally, business inventories were reported at 0.4 percent,
equal to consensus but lower than last month's reading of 0.70
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