Mid-Morning Market Update: Rite Aid Rallies, New York Stock Exchange Acquired by ICE

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Following the market opening Thursday, the Dow traded up 0.04 percent to 13,257.20 while the NASDAQ rose 0.03 percent to 3,045.86. The S&P also rose, increasing 0.17 percent to 1,438.25.

Top Headline
It was announced this morning that the Intercontinental Exchange would acquire the New York Stock Exchange (NYSE: NYX ) for $8.2 billion in cash, or $33.12 per share. This sent shares of of the NYSE up over 34 percent in early trading and provided increased interest in other publicly traded exchanges.

Equities Trading UP
Rite Aid (NYSE: RAD ) traded up 10.59 percent to $1.15 after posting a solid earnings report Thursday morning.

Shares of VIVUS (NASDAQ: VVUS ) were also up, gaining 4.91 percent to $14.31 after it was announced that Express Scripts had added Qsymia to its standard benefits program.

CarMax (NYSE: KMX ) shares were up as well, rising 8.58 percent to $37.83 after the company posted a 15 percent increase in profits in its earnings release this morning.

Equities Trading DOWN
Allscripts Healthcare (NASDAQ: MDRX ) was among the top stocks falling this morning, trading down 16.20 percent to $8.95 after the company fired its CEO and announced it would not pursue a sale.

Merck (NYSE: MRK ) was also down, falling 2.39 percent to $42.62 after the company announced its HPS-2 THRIVE study did not meet its primary endpoint.

Shares of Bed Bath & Beyond (NASDAQ: BBBY ) were down as well, dropping 8.76 percent to $55.00 following some poor guidance after the close Thursday and a downgrade at Bank of America.

Commodities
In commodity news, oil traded down 0.23 percent to $89.30, while gold traded down 0.97 percent to $1,650.40.

Silver traded down 1.67 percent Wednesday to $31.32.

Eurozone
European markets fell earlier this morning, pushed down by continuing fears over the US fiscal cliff, lead down by the Spanish Ibex and Italian MIB index.

Economics
In economic news Thursday morning, initial jobless claims were reported at 361 thousand, slightly above the anticipated 361 thousand and well above the prior report of 343 thousand.

Continuing claims were also reported, coming in at 3.225 million, above the expected 3.205 million, and the prior release of 3.198 million.

GDP price index came in at 2.7 percent, in line with expectations and the last report, while GDP quarter over quarter came in at 3.1 percent, above the expected 2.8 percent and the last report of 2.7 percent.

Existing home sales came in at 5.9 percent, well above the anticipated 2.3 percent and the prior report of 1.5 percent. Personal consumption was out as well, coming in at 1.6 percent, beating the projected and prior figure of 1.4 percent.

(c) 2012 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.



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 , Earnings , Economy , International

Referenced Stocks: BBBY , KMX , MDRX , MRK , VVUS

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