Following the market opening Wednesday, the Dow traded up 0.08
percent to 15,692.26 while the NASDAQ gained 0.19 percent to
3,959.78. The S&P also rose, surging 0.06 percent to
Top Headline General Motors (NYSE:
third-quarter net income.
GM's quarterly earnings declined to $698 million, or $0.45 per
share, from $1.48 billion, or $0.89 per share, in the
year-earlier period. Excluding one-time items, the company earned
$0.96 per share.
Its revenue climbed 4 percent to $39 million. However,
analysts were estimating earnings of $0.94 per share on revenue
of $39.2 billion.
Equities Trading UP Electronic Arts (NASDAQ:
) shot up 11.15 percent to $26.82 after the company reported
upbeat profit for the fiscal second quarter.
Shares of Ariad Pharmaceuticals (NASDAQ:
) got a boost, shooting up 11.35 percent to $4.22. Sarissa
Capital Management LP has taken a 6.22 percent stake in Ariad
DreamWorks Animation SKG (NASDAQ:
) was also up, gaining 13.77 percent to $31.65 on upbeat Q3
Equities Trading DOWN Shares of The Western Union Company
) were down 16.89 percent to $15.99 on Q3 results. Raymond James
downgraded the stock from Outperform to Market Perform.
) shares tumbled 16.54 percent to $15.54 on Q2 results. Cirrus
) was down, falling 12.04 percent to $21.48 after the company
reported Q2 results. Barclays downgraded the stock from
Equal-Weight to Underweight.
Commodities In commodity news,
oil traded down 0.93 percent
to $97.29, while gold traded up 0.78 percent to $1,355.60. Silver
traded up 2.44 percent Wednesday to $23.04, while copper rose
1.39 percent to $3.32.
Eurozone European shares
today. The Spanish Ibex Index fell 0.42 percent, while Italy's
FTSE MIB Index declined 0.24 percent. Meanwhile, the German DAX
rose 0.04 percent and the French CAC 40 surged 0.14 percent while
U.K. shares gained 0.26 percent.
Economics Private-sector employers added 130,000 jobs in
October, according to Automatic Data Processing Inc. However,
economists were expecting an increase of 150,000 jobs.
US consumer prices increased 0.2 percent in September, while
the core CPI climbed 0.1 percent. However, economists were
expecting a 0.2 percent rise.
The Mortgage Bankers Association reported that its index of
mortgage application activity rose 6.40 percent in the week ended
The FOMC is scheduled to announce its policy decision at 2:00
The Treasury is set to auction 7-year notes.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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