Midway through trading Thursday, the Dow traded down 0.67
percent to 13,892.18 while the NASDAQ fell 0.50 percent to
3,152.18. The S&P also fell, decreasing 0.54 percent to
Top Headline Making headlines all over the street today was
Greenlight Capital's David Einhorn, and his vehement defense of a
proposal for Apple (NASDAQ:
) to issue preferred stock. In a series of interviews on CNBC,
Bloomberg TV and a few other outlets, the hedge fund titan stated
that the company will no longer grow at its former rate of 80
percent, but that he owns more Apple than ever before.
Equities Trading UP DeVry (NYSE:
) shot up 19.68 percent to $31.26 after the company crushed on
the top and bottom lines, once again leaving analysts in the
Shares of True Religion (NASDAQ:
) shot up 20.59 percent to $28.64 following the market opening
Thursday after the company beat analyst expectations on the top
and bottom lines in its earnings report.
) rose sharply following the market opening, gaining 22.72
percent to $48.77 after beating on EPS and Revenue, and receiving
an upgrade at Needham this morning.
Equities Trading DOWN Akamai (NASDAQ:
) traded down 15.56 percent to $35.11 after releasing some weak
sales numbers and terrible guidance.
Bunge Limited (NYSE:
) was also down, falling 9.07 percent to $72.18 as a result of
its fourth-quarter loss and appointment of a new CEO Thursday
Shares of Atmel (NASDAQ:
) traded down 13.17 percent to $6.20 after the company reported
in line on EPS and beat on revenue, but lowered its first-quarter
Commodities In commodity news, oil traded down 0.76 percent to
$95.89, while gold traded down 0.19 percent to $1,675.40.
Silver traded down 0.37 percent Thursday to $31.51.
Eurozone In the eurozone this morning, markets were higher
across the board, disregarding the increase in bond yields.
Leading the rise were the volatiles Spanish Ibex and Italian MIB
index, gaining 0.84 percent and 0.76 percent respectively, while
the French CAC rose 0.34 percent.
Economics In economic news this morning, non-farm productivity
quarter over quarter came in at -2.0 percent, lower than the
projected -1.3 percent, and far below the revised prior report of
Unit labor costs quarter over quarter were also reported,
coming in at 4.5 percent, beating expectations of 3.0 percent,
and coming in far above the last report of -2.3 percent.
Continuing jobless claims were reported at 3.224 million,
above the expected 3.197 million and the prior report of 2.216
million, while initial jobless claims were reported at 366
thousand, above estimates of 360 thousand, but below the previous
release of 371 thousand.
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