Midway through trading Tuesday, the Dow traded down 0.17
percent to 15,857.40 while the NASDAQ declined 0.30 percent to
4,017.33. The S&P also fell, dropping 0.42 percent to
Top Headline FactSet Research Systems (NYSE:
) reported a 4.8% rise in its fiscal first-quarter profit and
issued a weak earnings guidance for the current quarter.
FactSet Research expects current-quarter earnings of $1.20 to
$1.23 per share, versus analysts' estimates of $1.25 per share.
It expects revenue of $225 million to $228 million, versus
analysts' estimates of $227 million.
FactSet Research's quarterly profit surged to $52.2 million,
or $1.19 per share, from $49.8 million, or $1.11 per share, in
the year-ago period. Excluding one-time items, its adjusted
earnings came in at $1.22 per share. Its revenue climbed 5.6% to
$223 million. The company had earlier expected earnings of $1.21
to $1.24 per share on revenue of $222 million to $225
Equities Trading UP KKR Financial Holdings LLC (NYSE:
) shot up 28.04 percent to $12.10 after the company agreed to be
acquired by KKR & Co (NYSE:
) for $2.6 billion.
Shares of Frontier Communications (NASDAQ:
) got a boost, shooting up 8.18 percent to $4.76 after AT&T
) announced its plans to sell its Wireline Residential and
Business Services and associated assets in Connecticut to
Frontier for $2 billion in cash.
Hewlett-Packard Company (NYSE:
) was also up, gaining 2.43 percent to $27.55 after JP Morgan
upgraded the stock from Neutral to Overweight and lifted the
price target from $30.00 to $35.00.
Equities Trading DOWN Shares of FactSet Research Systems
) were down 4.95 percent to $111.28 after the company issued a
weak earnings guidance
for the current quarter.
Spectrum Pharmaceuticals (NASDAQ:
) shares tumbled 7.51 percent to $8.38 after the company
announced an offering
of $100 million of convertible notes.
Kohlberg Kravis Roberts & Co LP (NYSE:
) was down, falling 2.83 percent to $24.37 after the company
announced its plans to acquire KKR Financial Holdings in an
Commodities In commodity news,
oil traded down 0.12 percent
to $97.36, while gold traded down 1.13 percent to $1,230.40.
Silver traded down 1.07 percent Tuesday to $19.89, while
copper fell 0.01 percent to $3.33.
Eurozone European shares
today. The Spanish Ibex Index dropped 0.91 percent, while Italy's
FTSE MIB Index declined 1.63 percent. Meanwhile, the German DAX
fell 0.86 percent and the French CAC 40 dipped 1.24 percent while
U.K. shares tumbled 0.55 percent.
Economics U.S. consumer prices came in flat in November, while
the core CPI rose 0.2%. However, economists were projecting both
the main CPI and core CPI to gain by 0.1%.
The U.S. current account deficit shrank to $94.8 billion in
the third quarter, versus a downwardly revised $96.6 billion in
the second quarter.
The ICSC-Goldman Sachs store sales index rose 4.8% in the week
ended Saturday versus the earlier week.
The Johnson Redbook Retail Sales Index dropped 1.4% in the
first two weeks of December versus November.
The NAHB housing market index rose to 58.00 in December,
versus a prior reading of 54.00. However, economists were
expecting a reading of 55.00.
The Federal Open Market Committee begins its 2-day meeting
The Treasury is set to auction 2-year notes.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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