Mid-Morning Market Update: Markets Rise; FireEye Acquires Mandiant For Around $1B

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Following the market opening Friday, the Dow traded up 0.32 percent to 16,494.19 while the NASDAQ surged 0.10 percent to 4,147.05. The S&P also rose, gaining 0.24 percent to 1,836.30.

Top Headline Yesterday, FireEye (NASDAQ: FEYE ) reported that it has acquired privately-held Mandiant for $1.05 billion in a cash and stock deal.

FireEye expected Q4 revenue of $55 million to $57 million, versus its earlier forecast of $52 million to $54 million.

Equities Trading UP Shares of FireEye (NASDAQ: FEYE ) got a boost, shooting up 21.81 percent to $50.10 after the company reported that it has acquired privately-held Mandiant for $1.05 billion in a cash and stock deal.

Resources Connection (NASDAQ: RECN ) shot up 9.27 percent to $15.56 after the company reported upbeat FQ2 earnings.

Rite Aid (NYSE: RAD ) was also up, gaining 7.44 percent to $5.42 after the company reported a 2.9% gain in its December same-store sales.

Equities Trading DOWN Shares of IPC The Hospitalist Company (NASDAQ: IPCM ) were down 3.73 percent to $56.32 after Credit Suisse downgraded the stock from Outperform to Neutral.

Sprint (NYSE: S ) tumbled 3.22 percent to $10.07 after analysts at Stifel Nicolaus downgraded the stock from Hold to Sell.

Owens-Illinois (NYSE: OI ) was down, falling 2.84 percent to $34.52 after Bank of America downgraded the stock from Buy to Neutral.

Commodities In commodity news, oil traded down 0.06 percent to $95.38, while gold traded up 0.34 percent to $1,229.40.

Silver traded down 0.21 percent Friday to $20.09, while copper fell 0.74 percent to $3.36.

Eurozone European shares were higher today. The Spanish Ibex Index rose 0.64 percent, while Italy's FTSE MIB Index surged 1.15 percent. Meanwhile, the German DAX gained 0.40 percent and the French CAC 40 rose 0.50 percent while U.K. shares climbed 0.32 percent.

Economics The Energy Information Administration will release weekly report on petroleum inventories at 11:00 a.m. ET.

Federal Reserve Chairman Ben Bernanke is set to speak at 2:30 p.m. ET.

(c) 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Commodities , Economy , Futures , International

Referenced Stocks: IPCM , OI , RAD , RECN , S

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