Following the market opening Monday, the Dow traded down 0.11
percent to 13,011.30 while the NASDAQ rose 0.27 percent to
3,018.25. The S&P also rose, increasing 0.07 percent to
Shocking investors this morning was a Goldman Sachs report on
) this morning, upgrading the company two levels from Sell to
Buy. The upgrade cited a fully adjusted market price to the
currently weak PC market, and caused the company to rally almost
7 percent on massive volume following the market opening.
Equities Trading UP
Deckers Outdoor (NASDAQ:
) was among the mornings winners, trading up 7.00 percent to
$40.97 following a Sterne Agee upgrade to buy and an increase in
price target from $32 to $65.
Shares of Supervalu (NYSE:
) rose 7.77 percent to $2.57 after Bloomberg reported that the
company's talks with Cerberus had started again.
Longwei Petroleum Investment Holding (NYSE:
) was also up, gaining 7.32 percent to $2.64 following the
expiration of the company's warrants Monday morning.
Equities Trading DOWN
Health Management Associates (NYSE:
) fell 5.35 percent following the market opening Monday to $7.53
after a scathing piece in 60 minutes painted the company in a bad
) was also down, falling 4.76 percent to $7.00 after it was
downgraded to Sell from Neutral at Goldman Sachs.
Shares of SunCoke Energy (NYSE:
) were down as well, dropping 8.37 percent to $14.89 following
the announcement Friday that the company had elected to defer its
IPO of its subsidiary.
In commodity news, oil traded up 1.25 percent to $90.02, while
gold traded up 0.36 percent to $1,717.00.
Silver traded down 0.43 percent Friday to $33.64.
In the eurozone this morning, news came out saying that EUN
ministers may be able to reach an ECB oversight deal by December
4th. Germany's Wolfgang Schauble was quoted saying the that Greek
debate was not simple in Germany, continuing that the crisis
resolution course must be step by step.
Over all, European markets were up across the board this
morning following the release of manufacturing PMI's, and
seemingly ignored the downgrade of the bailout funds.
In economic news Monday morning, construction spending was
reported at 1.4 percent, above the expected 0.5 percent and the
prior release of 0.6 percent.
Markit PMI was also reported, coming in at 52.8, slightly
above the projected 52.1 and the previous report of 52.4.
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