Midway through trading Tuesday, the Dow traded down 0.04
percent to 14,812.87 while the NASDAQ gained 0.34 percent to
3,318.33. The S&P also rose, gaining 0.07 percent to
Index Technicals: The S&P is stalling at its 1,556/1,597
highs, with 1,575 acting as support below.
The Dow is also stalling, at the 14,850 level and 14,750
support below, while having 14,900 resistance higher.
Next up, the NASDAQ is stalling as well at its 3,320 highs,
with 3,275 forming as support below.
Finally, the Russell is stalling just under its 945 resistance
with 930 as support lower and 950 as resistance above.
Top Headline Pfizer (NYSE:
) reported a 53% rise in its first-quarter earnings and lowered
its 2013 forecast.
For the year, Pfizer now expects earnings of $2.14 to $2.24
per share on revenue of $55.3 billion to $57.3 billion. The
company had earlier expected earnings of $2.20 to $2.30 per share
on revenue of $56.2 billion to $58.2 billion.
Pfizer's quarterly profit surged to $2.75 billion, or $0.38
per share, from $1.79 billion, or $0.24 per share, in the
year-ago period. Excluding one-time items, its adjusted earnings
from continuing operations came in at $0.54 per share. Its
revenue fell 9.3% to $13.5 billion. However, analysts were
expecting earnings of $0.55 per share on revenue of $13.99
Equities Trading UP Multimedia Games (NASDAQ:
) shot up 18.98 percent to $24.01 on FQ2 results.
Shares of Meritor (NASDAQ:
) got a boost, shooting up 24.63 percent to $5.92 after the
company reported upbeat Q2 earnings.
Best Buy Co (NYSE:
) was also up, gaining 8.97 percent to $26.37 after the company
announced its plans to sell its stake in its European joint
Equities Trading DOWN Nuance Communications (NASDAQ:
) was down, falling 18.07 percent to $19.09 on weak Q2
Shares of Pitney Bowes (NYSE:
) were down 16.36 percent to $13.55 on Q1 results.
U.S. Silica Holdings (NASDAQ:
) shares tumbled 7.69 percent to $19.57 on Q1 results.
Commodities In commodity news, oil traded down 1.04 percent to
$93.52, while gold traded down 0.03 percent to $1,466.90.
Silver traded down 0.01 percent Tuesday to $24.17, while
copper fell 1.13 percent to $3.19.
Eurozone European shares were mostly lower today. The Eurozone
Unemployment Rate rose to 12.1 percent in March, in line with
expectations and higher than February's reading of 12.0 percent.
Eurozone April CPI fell to a 1.3 percent annualized rate from 1.8
percent in March, well below the expected 1.8 percent rate,
raising hopes that the ECB will cut rates as it has only a price
The Spanish Ibex Index fell 0.38 percent while the Italian
FTSE MIB Index dropped 0.96 percent. Meanwhile, the German DAX
rose 0.51 percent and the French CAC dropped 0.31 percent and
U.K. shares declined 0.43 percent.
Economics The employment cost index increased 0.3% in the
first quarter, versus economists' estimates of a 0.5% rise.
The ICSC/Goldman Sachs Retail Chain Store Sales Index rose
0.4% in the week ended Saturday versus the week earlier.
The S&P/Case-Shiller composite index surged 0.3% in
February and rose 9.3% y/y.
National chain store sales for the first three weeks of April
dropped 2.5% versus March, according to Redbook Research's latest
Chicago PMI declined to 49.0 in April, versus 52.4 in March.
However, economists were expecting a 52.5 reading.
The consumer confidence index surged to 68.1 in April, versus
a revised 61.9 in March. However, economists were expecting a
reading of 61.3. The expectations index increased to 73.3, versus
63.7 in March.
The FOMC meeting begins Tuesday.
Data on farm prices will be released at 3:00 p.m. ET.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
Profit with More New & Research
. Gain access to a streaming platform with all the information
you need to invest better today.
Click here to start your 14 Day Trial of Benzinga