Following the market opening Friday, the Dow traded down 0.46
percent to 12,484.96 while the NASDAQ fell 0.51 percent to
2,822.46. The S&P also fell, decreasing 0.52 percent to
Hostess announced this morning that it would be filing for
bankruptcy due to trouble with product demand and its recent
labor relations issues. The company plans to liquidate its
Equities Trading UP
Penn National Gaming (NASDAQ:
) shot up 32.87 percent to $49.97 after the company announced it
would split into two separate companies to optimize its
Shares of MGM Resorts (NYSE:
) were also on the rise, trading up 4.81 percent to $9.82
following the news on Penn's restructuring.
) also rocketed up, rising 25.39 percent to $10.32 following the
IPO filing by Boise Cascade.
Equities Trading DOWN
Dynavax Technologies (NASDAQ:
) dropped 48.81 percent to $2.37 following a negative FDA
recommendation on its Hepatitis C vaccine yesterday.
) traded down 7.01 percent to $8.89 after the company missed on
earnings and posted some negative guidance following the close
Shares of Windstream (NASDAQ:
) traded down 2.31 percent to $8.03 following a downgrade to Sell
from Goldman Sachs and a price target cut at Nomura.
In commodity news, oil traded up 1.16 percent to $86.44, while
gold traded up 0.06 percent to $1,719.20.
Silver traded down 0.28 percent Friday to $32.40.
In the eurozone this morning markets continued to fall on Spanish
The IMF director came out with a statement urging finance
officials to make a timely decision on Greece.
BUBA's Weidmann also was out with some statements, saying
Greece will need more time than other countries to reform and
that the ESM bailout is currently sufficient.
In economic news, TIC net long-term transactions came in at $4.7
billion vs the expected $50.0 billion and the prior number of
Capacity utilization rate was reported at 77.8 percent,
slightly above the expected 78.4 percent, but below the prior
report of 78.2 percent.
Industrial production month over month was also reported,
coming in at -0.4 percent, below the expected 0.2 percent as well
as the prior report.
Overall net capital flow came in at $3.3 billion, drastically
below the expected $50.0 billion and the prior report of $90.3
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