Stocks are still trading lower at mid-day Wednesday but paring
some of its early losses that followed news that UniCredit SpA
plans to soon sell stock, fueling concerns it and other large
European banks need to raise capital.
November factory orders also missed forecasts, also contributing
to the lackluster mood. Bookings for factory goods rose 1.8% after
a revised 0.2% drop the prior month, according to data from the
Commerce Department. Demand for aircraft, autos and metals
compensated for a drop in computers and electronics.
Despite the uptick, the gain fell short of forecasts, with
analysts polled by Bloomberg expecting factory orders to have grown
by 2.0%. October was previously reported as a 0.4% decrease.
In company news:
) shares were up sharply after the digital video company agreed to
a licensing agreement and settlement with AT&T (
) guaranteeing to pay TiVo at least $215 million over the next six
years. On a per-subscriber basis, the new deal is significantly
better than the company's $500 million settlement last May with
satellite TV company Dish Network Corp. (
) Verizon Communications (
) faces a similar suit for allegedly using TiVo technology.
) climbed as much as 33% in early trade, reaching $4.09 a share,
after the laser eye surgery firm said it performed 14,205
procedures during the fourth quarter of 2011, up from 10,671
proceedures in the year-ago period.
Commodities are mixed. February gold contracts is up $10.90 to
$1,611.40 an ounce, while February crude oil contracts are down
$0.46 to $102.50 a barrel.
In energy ETFs, the United States Oil Fund (USO) is down 0.55%
to $39.49 and the United States Natural Gas fund (UNG) is up 1.39%
In precious metal ETFs, the SPDR Gold Trust (GLD) is up 0.43% to
$156.58. Market Vectors Gold Miners (GDX) is up 0.5% to $50.33.
iShares Silver Trust (SLV) is down 29 cents at $28.54.
Here's where markets stand at mid-day:
-NYSE down 25.60 (0.34%) to 7,598.72
-DJIA down 19.30 (0.16%) to 12,378.08
-S&P down 3.38 (0.26%) to 1273.62
-Nasdaq down 3.38 (0.26%) to 12,745.93
Nikkei up 1.24%.
Hang Seng down 0.80%.
Shanghai Composite down 1.37%.
FTSE-100 down 0.5%.
MID-DAY NYSE INDEX WATCH
NYSE Energy is down 0.2% to $27.60
NYSE Financial is down 0.46% to $58.23
NYSE Health Care is down 0.94% to $66.85
NYSE Arca Tech 100 is down 0.87% to $9.52
(+)ADGE, (+11.6%) New agreement to supply clean energy to NYC
(+)CVU, (+8.2%) Receives $12.7 million purchase order
(+)HDY, (+10.0%) Recently resumed drilling offshore Republic of
(-)TRID, (-68.5%) Seeks voluntary Chapter 11 bankruptcy