Stocks closed near their record highs today as Fed Chair nominee
Janet Yellen gave the Senate Banking Committee an argument as to
why the Fed should continue its current asset purchases to tackle a
stubbornly high jobless rate and below-target inflation rates. As
the ideological successor to Ben Bernanke, Yellen's testimony today
not only potentially bought the Fed more time before tapering QE,
but provided constructive extension to yesterday's gains, and
offsetting early pressure tied to disappointing earnings from Dow
component Cisco Systems (
) and below-consensus revenue from Wal-Mart (
Today economic data complemented Yellen's testimony with initial
jobless claims, balance of trade and industrial production all
coming in weaker than estimates and pointing to a moderation in
economic growth and a lackluster job market.
Dow Jones Industrial Index was up 54 points, or 0.4%, at
S&P 500 was up 8 points, or 0.5%, at 1,790
Nasdaq Composite Index was up 7 points, or 0.2%, at 3,972
FTSE 100 was up 0.54%
Nikkei 225 was up 2.12%
Hang Seng Index was up 0.82%
Shanghai China Composite Index was up 0.60%
PLUG, The company reported a Q3 net loss of $16 million, or
$0.19 per diluted share versus estimates of a loss of $0.08.
Year-ago net loss was $10.3 million, or $0.27 per share.
NVGN Novogen reports positive findings from a pilot program
aimed at the breakthrough development of drugs to treat a wide
range of genetic and non-genetic degenerative diseases including
muscular dystrophy, motor neurone disease,
Huntington's Disease, cystic fibrosis and Alzheimer's
CIDM, Despite disappointing earnings, the company is expecting a
strong FY14 with guidance of total consolidated revenues at $84.0 -
$86.0 million and consolidated Adjusted EBITDA of $41.0-$42.0
CSCO, Issued lowered guidance and was hit with a rash of
EPZM, The company reported the initial findings in its ongoing
dose escalation study of EPZ-5676 DOT1L inhibitor, which indicated
no dose-limiting toxicities observed in the study; however, the
maximum tolerated dose (
) was not reached.
CNTY Diluted EPS for Q3 was $0.04, down from $0.05 in the
prior-year period, missing the Thomson Reuters consensus by
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