Midway through trading Friday, the Dow traded up 0.24 percent
to 14,364 while the NASDAQ rose 0.21 percent to 3,239. The
S&P also rose, gaining 0.18 percent to 1,547.
Index Technicals: The Dow looks set to stall at 14,400, with
lower intraday support around the 14,250 level. Major daily
support will be found at 14,100.
The Russell will take out its 932 resistance and head to new
highs, with a bullish MACD cross on its daily chart.
The NASDAQ takes out its 3,213.50 intraday resistance and
stall out around 3,250.
Finally, the S&P continues its uptrend, stalling at 1,550,
while 1,538 should act as intraday support.
Top Headline Pandora Media (NYSE:
) posted a narrower-than-expected fourth-quarter loss. The
company also announced that its Chairman, Chief Executive and
President, Joseph Kennedy is stepping down.
The company posted a quarterly loss of $14.6 million, or $0.09
per share, versus a year-ago loss of $8.2 million, or $0.05 per
share. Excluding one-time items, its adjusted loss came in at
$0.04 per share.
Its revenue surged 54% to $125.1 million. However, analysts
were expecting a loss of $0.05 pers hare on revenue of $122.8
Equities Trading UP Pandora Media (NYSE:
) shot up 18.33 percent to $13.88 after the company posted a
narrower-than-expected fourth-quarter loss.
Shares of Tempur-Pedic International (NYSE:
) got a boost, shooting up 6.17 percent to $45.25 after the
Federal Trade Commission cleared its planned acquisition of
H&R Block (NYSE:
)was also up, gaining 7.93 percent to $26.96 after the company
reported Q3 results.
Equities Trading DOWN Foot Locker (NYSE:
) shares tumbled 5.57 percent to $33.34 after the company
reported Q4 results.
AVG Technologies NV (NYSE:
) was also down, falling 10.71 percent to $14.01 after the
company announced the resignation of it CEO.
Shares of Quiksilver (NYSE:
) were down 5.09 percent to $5.97 after the company reported
downbeat Q1 results.
Commodities In commodity news, oil traded down 0.30 percent to
$91.29, while gold traded down 0.08 percent to $1,573.90.
Silver traded up 0.55 percent Friday to $28.97, while copper
fell 0.21 percent to $3.51.
Eurozone European shares were higher today. Spanish industrial
production continued to improve in January, falling 5 percent on
expectations of a 5.2 percent drop and slower than the previous
reading of a 6.9 percent drop.
The Spanish Ibex Index climbed 2.85 percent and the Italian
FTSE MIB Index surged 1.61 percent. The STOXX Europe 600 Index
gained 0.80 percent, London's FTSE 100 Index rose 0.70 percent,
French CAC 40 Index surged 1.22 percent and German DAX 30 index
gained 0.58 percent.
Economics The US economy added 236,000 jobs in the month of
February and the unemployment rate declined to 7.7% from 7.9%.
However, economists were expecting the economy to add 160,000
jobs and unemployment rate of 7.9% in February.
US wholesales inventories climbed 1.2% to $504.4 billion in
January. However, economists had expected a rise of around
The Fed's Elizabeth Duke is scheduled to speak tonight.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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