U.S. and world markets are mixed today as uncertainties over
Spain's aid package and sub-par figures from economic bellwether
FedEx Corp. (
) easily outweigh Apple's (
) new year high on record-breaking iPhone 5 sales.
FedEx reported lower fiscal Q1 profit and trimmed its full-year
guidance, citing weaker global trade and frugal customers choosing
cheaper shipping options. The world's biggest airline cargo company
said it now sees its full-year earnings at $6.20 to $6.60 a share,
down from an already-disappointing forecast of $6.90 to $7.40 in
Tech giant Apple bit a new year high of $701.44 this morning
before drifting lower with the broader market. Apple says the
iPhone 5 sold 2 million units in first-day orders, more than double
a record set by the previous model. The iPhone is Apple's
top-selling product, accounting for about two-thirds of profit.
U.S. sectors are mixed, though largely lower. Healthcare and
non-cyclical consumer sectors stand out as gainers while
transportation, energy, cyclical consumer sectors weigh in as the
Commodities are mixed at mid-day. Crude oil for October delivery
is down $0.62 at $96.00 a barrel, marking a second day of losses
after FedEx trimmed its profit outlook, fueling concerns that a
U.S. economic slowdown will wane demand. October natural gas is up
$0.015 at $2.88 per 1 million BTU.
December gold futures are flat at $1,770.60 per ounce. December
silver is also flat at $34.37. December copper is down $0.029 at
Here's where the markets stand at mid-day:
NYSE Composite (^NYA) down 7.42 (-0.09%) 8,401.51
Dow Jones Industrial Average (^DJI) up 5.31 (+0.04%)
S&P 500 (^INX) down 1.76 (-0.12%) 1,459.45
Nasdaq Composite Index (^IXIC) down 1.54 (-0.04%) 3,117.27
Nikkei 225 Index down 0.39%
Hang Seng Index down 0.27%
Shanghai China Composite Index down 0.91%
FTSE 100 Index down 0.26%
NYSE SECTOR INDICES:
NYSE Energy Sector Index (^NYE) up 39.01 (+0.29) at
NYSE Financial Sector Index (^NYK) up 4.25 (+0.09%) at
NYSE Healthcare Sector Index (^NYP) up 25.09 (+0.35%) to
(+) PMFG (+14.9%) PMFG Inc. was up close to 17% after announcing
that it was awarded a five-year contract by the U.S. Navy's Naval
Surface Warfare Center, Carderock Division (NSWCCD) to provide the
air inlet moisture separation/filtration systems to replace the
existing systems on the Arleigh Burke (DDG 51) class. The contract
could have a potential value of approximately $13.7 million, if all
options are exercised.
(+) VELT (+11.2%) Velti is up more than 13% after it today said
it has closed a $27 million, 2-year deal to provide its mobile
marketing technology to a major U.S. brand. Expected to commence in
the next few weeks, this program will drive increased engagement
with and long-term loyalty of the brand's existing customers.
(+) ENR (+9.5%) Energizer Holdings shares are up nearly 10%
after the company earlier reaffirmed its FY12 earnings outlook in
the range of $6.00 - $6.20 and reiterated its expectation that the
diluted earnings per share in the fourth fiscal quarter will be
above a year ago. Analysts polled by Capital IQ are expecting FY12
EPS of $5.97.
(+) SRPT (+7.9%, closer to year highs) Sarepta Therapeutics is
up more than 7% after the company reported that its lead
therapeutic drugs for Ebola and Marburg viruses have received the
U.S. Food and Drug Administration (FDA) has granted Fast Track
status. SRPT's lead infectious disease drug candidates, AVI-7288
and AVI-7537, are being developed under a U.S. Department of
Defense contract managed by the Joint Project Manager
Transformational Medical Technologies Project Management
(-) HNI (-14.4%) HNI Inc. is down 14% after the company late
last night lowered its Q3 outlook. The company said it now expects
2012 Q3 revenue and operating profit to be below the previous
outlook due to softer-than-expected demand in its office furniture
segment. HNI forecasts Q3 sales to be up 7% to 10% over prior year
compared down from the previous guidance of 11% to 14%.
(-) AMD (-8.4%, nearer year lows) AMD is down nearly 8% after it
said that Thomas Seifert informed the company of his decision to
resign as chief financial officer to pursue other opportunities.
Devinder Kumar, senior vice president and corporate controller,
will serve as interim chief financial officer while a search
commences for Seifert's replacement.
(-) OCZ (-4.9%, nearer year lows) OCZ Technology Group Inc. is
down nearly 5% after it announced late yesterday that Ryan Petersen
resigned as the company's president and CEO. Petersen also resigned
as a director of the company's board. OCZ's board of directors has
appointed Alex Mei, executive vice president and chief marketing
officer as Interim CEO, effective immediately.