Mid-way through trading Thursday, the Dow traded down 0.10
percent to 13,896.18 while the NASDAQ rose 0.16 percent to
3,147.18. The S&P also fell, decreasing 0.07 percent to
Top Headline Facebook (NASDAQ:
) reported earnings after the close Wednesday, beating on the top
and bottom lines, but disappointing investors when it came to
headcount growth and mobile revenue growth. After the release,
shares traded down just under 6 percent, but have since recovered
to their pre-earnings levels.
Equities Trading UP WMS Industries (NYSE:
) saw a boost of 52.11 percent to $24.90 after it was announced
that Scientific Games would buy the company for $1.5 billion this
Shares of Fortinet (NASDAQ:
) were also up, gaining 22.79 percent to $23.76 after the company
beat on both top and bottom lines Thursday morning.
Pitney Bowes (NYSE:
) was up as well, gaining 16.82 percent to $13.99 after beating
on the bottom line, matching on revenue, and guiding slightly
lower for 2013.
Equities Trading DOWN Fusion-io (NYSE:
) traded down 15.48 percent to $16.98 after the company beat on
earnings Wednesday but released terrible guidance. Following the
report it received three significant downgrades, causing shares
to bottom out.
Liquidity Services (NASDAQ:
) was down as well, falling 23.10 percent to $31.58 after the
company reported some poor guidance and earnings Thursday
Shares of Constellation Brands (NYSE:
) plumetted 18.28 percent to $32.01 after the U.S. Department of
Justice announced it would sue to halt the takeover of Modelo by
Commodities In commodity news, oil traded down 0.74 percent to
$97.22, while gold traded down 0.96 percent to $1,665.40.
Silver traded up 0.46 percent Thursday to $31.64.
Eurozone European markets fell this morning, led downward by
Spain and a string of poor earnings reports. The Spanish Ibex
fell 1.58 percent, followed closely by the Italian MIB index
which fell 0.91 percent.
Economics In economic news Thursday morning, challenger job
cuts came in at -24.40 percent, below the prior release of -22.10
Personal income was also reported, coming in at 2.60 percent,
beating expectations of 0.80 percent and the prior release of
0.10 percent, while personal spending came in at 0.20 percent,
missing the projected 0.30 percent and the prior figure of 0.40
Initial jobless claims were reported at 368 thousand, beating
the expected 350 thousand and the prior report of 330 thousand,
while continuing claims came in at 3.197 million, higher than the
projected 3.171 million and the last report of 3.157 million.
Chicago PMI was reported as well, coming in at 55.6, crushing
the projected 50.5 and the revised prior report of 50.00.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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