Midway through trading Tuesday, the Dow traded down 0.13
percent to 12,779.07 while the NASDAQ fell 0.14 percent to
2,912.05. The S&P also fell, decreasing 0.04 percent to
Hewlett Packard (NYSE:
) reported earnings this morning, but what caught traders'
attention was the $8.8 billion charge for a company it acquired
called Autonomy. CNBC's David Faber came out with some comments
alleging fraud, saying Autonomy pursued a number of methods to
inflate margins and growth.
Equities Trading UP
) traded up 10.21 percent to $3.42 following an announcement by
Tiger Global last night that it had a stake in the company.
Shares of Green Mountain Coffee Roasters (NASDAQ:
) rose 6.07 percent to $28.99 after the company named Brian
Kelley, formerly of Coca-Cola as its new chief executive
) was also up, gaining 8.12 percent to $67.35 following a big
earnings beat this morning.
Equities Trading DOWN
Best Buy (NYSE:
) traded down 11.78 percent to $12.13 following a poor earnings
report this morning.
Cliffs Natural Resources (NYSE:
) traded down 9.38 percent to $31.42 after Goldman Sachs cut the
company's rating to Sell.
Shares of Patterson Companies (NASDAQ:
) fell 7.23 percent to $33.42 following an earnings miss Tuesday
In commodity news, oil traded down 0.93 percent to $88.45, while
gold traded down -0.10 percent to $1,732.70.
Silver traded down 0.07 percent Tuesday to $33.11.
In the eurozone, markets were largely down following the Moody's
downgrade of France to Aa1.
Later today eurozone leaders will meet to discuss the Greek
bailout package and possibly make a decision on the matter. Many
leaders are less than optimistic that a decision will be made,
including the EU's Juncker.
In economic news, building permits came in at 866 thousand,
slightly above the expected 864 thousand but below the prior
report of 890 thousand, while building permits month over month
were reported at -2.7 percent, better than the expected -2.9
percent, but well below the last report of 11.1 percent.
Housing starts were also released, coming in at 894 thousand,
well above the expected 840 thousand and the previous release of
863 thousand, while housing starts month over month were reported
at 3.6 percent, far above the expected -3.7 percent, but below
the last release of 15.1 percent.
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