Midway through trading Friday, the Dow traded up 0.53 percent
to 15,676.23 while the NASDAQ surged 1.31 percent to 3,907.80.
The S&P also rose, gaining 0.80 percent to 1,761.18.
Top Headline McDonald's (NYSE:
) reported downbeat comparable-restaurant sales for October.
McDonald's global same-restaurant sales increased 0.5 percent
in October. However, analysts were expecting a 0.6 percent
growth. Analysts at RBC Capital initiated coverage on the stock
with a Sector Perform rating.
Equities Trading UP Santarus (NASDAQ:
) shot up 37.84 percent to $32.01 after Salix Pharmaceuticals
) announced its plans to buy Santarus for around $2.12 billion.
Santarus and Pharming also
announced new data
from open-label repeat treatment study with RUCONEST.
Shares of Universal Display (NASDAQ:
) got a boost, shooting up 23.84 percent to $32.01 after the
company reported upbeat Q3 results and issued a strong FY13
Salix Pharmaceuticals (NASDAQ:
) was also up, gaining 16.39 percent to $83.00 after the company
announced its plans to buy Santarus for around $2.12 billion.
Janney Capital upgraded Salix from Neutral to Buy and lifted the
price target from $60.00 to $95.00.
Equities Trading DOWN Shares of Microsemi (NASDAQ:
) were down 3.10 percent to $23.42 after the company issued a
downbeat Q1 outlook.
U.S. Silica Holdings (NYSE:
) shares tumbled 3.83 percent to $31.49 after the company
priced 11.5 million shares
at $31.50 per share for selling holders.
Eldorado Gold (NYSE:
) was down, falling 2.68 percent to $6.35 after the company
reported a downbeat Q3 profit.
Commodities In commodity news,
oil traded up 0.17 percent
to $94.36, while gold traded down 1.80 percent to $1,284.90.
Silver traded down 1.46 percent Friday to $21.34, while copper
rose 0.32 percent to $3.26.
Eurozone European shares
were mostly lower
today. The Spanish Ibex Index dropped 0.05 percent, while Italy's
FTSE MIB Index rose 0.49 percent. Meanwhile, the German DAX
declined 0.12 percent and the French CAC 40 tumbled 0.48 percent
while U.K. shares rose 0.10 percent.
Economics The US economy added 204,000 jobs last month, while
the unemployment rate rose to 7.3 percent from 7.2 percent in
October. However, economists were projecting a gain of 120,000
jobs in October.
U.S. consumer spending increased 0.2 percent in September,
versus an unrevised 0.3 percent growth in August. Personal income
increased 0.5 percent in the month. However, economists were
expecting a 0.3 percent rise in spending and personal income.
The preliminary reading of the Reuter's/University of
Michigan's consumer sentiment index declined to 72 in November,
versus a final reading of 73.2 in October. However, economists
were expecting the index to increase to 75.
Fed Chairman Ben Bernanke is expected to speak at 3:30 p.m.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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