Here's where markets stand at mid-day:
-NYSE up 9.94 (+0.12%) to 8,493.88
-DJIA up 47.61 (+0.38%) to 12,427.66
-S&P 500 up 2.20 (+0.17%) to 1,329.85
-Nasdaq down 3.72 (-0.14%) to 2,776.34
Hang Seng down 0.38%
Nikkei down 0.5%
FTSE down 0.04%
MID-DAY NYSE INDEX WATCH
NYSE Energy down 0.26% at 14,421.36
NYSE Financial up 0.36% at 5,222.04
NYSE Health Care up 0.4% at 6,913.36
NYSE Arca Tech 100 down 0.05% at 1,148.08
(+) LVLT (+10.4%) buying Global Crossing.
(+) GLBC (+57.4%) sold for $23.04 a share.
(+) AMMD (+31.9%) sold to Endo Pharma for $30 a share.
(+) TYC (+3.6%) reportedly shown bid interest.
(+) AA (+0.6%) gaining ahead of earnings.
(+) VVUS (+2.6%) gains as QNEXA weight loss data published.
(+) TSTY (+146.6%) sold for $4 per share.
(-) MDVN (-0.8%) says Dimebon does not meet co-primary endpoints
(-) NYX (-1.9%) rejects Nasdaq, ICE bid to stick with Deutsche
(-) AAP (-1.6%) downgraded.
(-) IBM (-0.2%) downgraded.
Stocks are mixed in mid-day trading as investors begin to eye
corporate earnings, which are set to get underway after the closing
bell today. With no economic news on the calendar, deal news also
provided some support to equities.
) latest results kick off another round of corporate results,
beginning in post-bell this afternoon. AA is expected to show the
benefit of a strong rise in the price of aluminum since last year.
Analysts surveyed by FactSet Research expect the aluminum giant to
earn $0.27 a share on revenue of $6.14 billion, up from $0.10 a
share on revenue of $4.89 million in the same period a year
Elsewhere in company news:
The parent company of the New York Stock Exchange, NYSE Euronext
) said Sunday that it rejected an $11.3 billion bid from Nasdaq (
) and IntercontinentalExchange (
) to buy the company. NYSE Euronext said that its board decided to
turn down the offer, which was submitted earlier this month,
because it was "highly conditional" and would have caused
unnecessary risk for shareholders. The company said it is sticking
with its plan to combine with German exchange operator Deutsche
Boerse AG. NYSE agreed to that $10 billion deal in February.
Shares of both Tenet Healthcare (
) and Community Health Systems, Inc. plummeted today as Tenet filed
a lawsuit against CHS alleging that the latter "systematically
overbilled Medicare and likely other payers as well."
Shares of Sony Corp. (SNE) are down in late trading as the
consumer electronics maker cut European prices for its PlayStation
Portable video-game player by 24 percent, Bloomberg reports.
Merck & Co (MRK) and Mumbai-based pharmaceutical company Sun
Pharmaceutical Industries announced today the creation of a joint
venture to develop, manufacture and commercialize new combinations
and formulations of branded generics in the emerging markets.
Level 3 Communications (LVLT) surged after it says it will buy
Global Crossing (GLBC) in a tax-free, stock-for-stock transaction.
GLBC shareholders will receive 16 shares of LVLT common stock for
each share of GLBC common stock or preferred stock that is owned at
In an effort to help end its US economic slump, retail giant
Wal-Mart (WMT) plans to return 8,500 products to store shelves,
also in the hopes of reversing its seven-quarter decline. On top of
its new ad campaigns, the retailer is promising to match local
store prices. Company CEO Mike Duke also plans to open smaller
Express stores to recapture market share lost to dollar stores.
Shares of BHP Billiton (BHP) are higher as Bloomberg reports the
world's largest mining company squelched speculation that it plans
to buy Royal Dutch Shell's stake in Woodside Petroleum. The Sunday
Times reported Sunday that BHP was in talks with Shell, who was
being advised by UBS.
Commodities are down. June gold contracts are down $3, or 0.22%,
to $1,471 an ounce while May crude oil contacts are down 1.28%, or
$1.45, at $111.34 a barrel.
In energy ETFs, the United States Oil Fund (USO) is down 1.53%
to $44.47 and the United States Natural Gas fund (UNG) is up $0.24,
or 2.27%, to $10.82.
In precious metal ETFs, the SPDR Gold Trust (GLD) is down 0.27%
at $143.27. Market Vectors Gold Miners (GDX) is down 0.59% to
$63.57. iShares Silver Trust (SLV) is up 0.79% to $40.18.