Following the market opening Thursday, the Dow traded down
0.10 percent to 13,968.18 while the NASDAQ fell 0.30 percent to
3,187.18. The S&P also fell, decreasing 0.18 percent to
Index Technicals: For technicals on the major indices today,
the S&P looks poised to bounce off its 1515 support, while
having a second level of support at 1495 if it falls further.
The NASDAQ looks set to reject its September 12th resistance
breakout, with support landing around 3125.
The Dow looks ready to bounce of 13940 intraday, while it
should reside in the 14022-13860 range.
The RUT looks to be holding a 915 breakout sitting at 920
Top Headline In a wild morning of news, Berkshire Hathaway and
3G's purchase of Heinz (NYSE:
) for $72.50 per share, roughly a 20 percent premium on
yesterday's close. Following the news, shares briefly shot up
above $73 on the rumor of a special dividend before the
transaction closes, but have since settled around $72.54.
Equities Trading UP Constellation Brands (NYSE:
) shot up 34.97 percent to $43.03 in the pre-market after it was
announced that AB InBev had revised its Modelo deal to meet US
Shares of Zillow (NASDAQ:
) also got a boost, shooting up 13.60 percent to $42.26 after the
company posted a big earnings beat after the close Wednesday.
Alpha Natural Resources (NYSE:
) was also up, gaining 12.40 percent to $9.54 after an earnings
beat on top and bottom lines.
Equities Trading DOWN Affymax (NASDAQ:
) took a 16.26 percent hit to $14.16 this morning after the
company announced it will pause the expansion of Omontys pilot
that began in July 2012.
) was also down, falling 20.30 percent to $33.22 after the
company matched earnings expectations but lowered its dividend
Shares of Windstream (NASDAQ:
) were down 9.33 percent to $8.90 this morning, as traders feared
the 11 percent dividend yield stock would lower its dividend in
line with CenturyLink's move.
Commodities In commodity news, oil traded up 0.40 percent to
$97.40, while gold traded up 0.08 percent to $1,646.40.
Silver traded up 0.04 percent Thursday to $30.91.
Euro zone In the eurozone this morning, markets fell sharply
on some very poor GDP data. The Spanish Ibex lead the fall,
dropping 1.23 percent, while the Italian MIB index nose-dived
0.83 percent. The German DAX also displayed a significant fall,
dropping 0.58 percent.
Economics In economic news for Thursday, initial jobless
claims came in at 341K, beating the estimated 360K and the prior
report of 368K.
Continuing jobless claims were also reported, coming in at
3.114 million, lower than the projected 3.205 million and the
previous release of 3.224 million.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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