Midway through trading Wednesday, the Dow traded up 0.56
percent to 15,704.95 while the NASDAQ declined 0.35 percent to
3,926.14. The S&P also rose, gaining 0.20 percent to
Top Headline Time Warner (NYSE:
reported a rise
in its third-quarter profit.
Time Warner's quarterly profit surged to $1.18 billion, or
$1.26 per share, versus a year-ago profit of $822 million, or
$0.84 per share. Its adjusted earnings from continuing operations
climbed to $1.01 per share from $0.84 per share.
Its total revenue came in at $6.86 billion versus $6.84
billion. However, analysts were estimating earnings of $0.89 per
share on sales of $6.94 billion.
Equities Trading UP Blucora (NASDAQ:
) shot up 15.51 percent to $28.00 after the company reported
upbeat Q3 revenue.
Shares of AngloGold Ashanti (NYSE:
) got a boost, shooting up 7.72 percent to $15.76 on
Ralph Lauren (NYSE:
) was also up, gaining 3.91 percent to $177.88 after the company
upbeat FQ2 profit
and lifted its dividend.
Equities Trading DOWN Shares of Tesla Motors (NASDAQ:
) were down 13.29 percent to $153.32 after the company reported a
Q3 profit, but issued a weak outlook for the fourth quarter.
Halcon Resources (NYSE:
) shares tumbled 8.90 percent to $4.66 after Global Hunter
downgraded the stock from Neutral to Sell and lowered the price
target from $6.00 to $3.50.
Abercrombie & Fitch Co (NYSE:
) was down, falling 10.68 percent to $34.22 after the company
reported a 14 percent drop in its third-quarter comparable sales
and cut its adjusted profit view for the full year.
Commodities In commodity news,
oil traded up 1.64 percent
to $94.90, while gold traded up 0.58 percent to $1,315.70. Silver
traded up 0.64 percent Wednesday to $21.78, while copper fell
0.75 percent to $3.23.
Eurozone European shares today. The Spanish Ibex Index rose
0.25 percent, while Italy's FTSE MIB Index climbed 0.68 percent.
Meanwhile, the German DAX gained 0.32 percent and the French CAC
40 surged 0.79 percent while U.K. shares fell 0.08 percent.
Economics The Mortgage Bankers Association reported that its
index of mortgage application activity declined 7 percent for the
week ending November 1.
Planned layoffs rose 13.5 percent to 45,730 in October versus
September, but fell 4.2 percent versus the year-ago period,
according to Challenger, Gray & Christmas.
The Conference Board's leading economic index rose 0.7 percent
in September, versus economists' expectations for a 0.6 percent
Crude stockpiles rose 1.6 million barrels for the week ending
November 1, the US Energy Information Administration reported.
However, analysts were expecting a gain of 2.5 million
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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