Stocks Paring Losses But Still Lower Following Yesterday's Big Gains

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Stocks are still trading lower at mid-day Wednesday but recouping some ground lost on news that UniCredit SpA planned to soon sell stock, fueling concerns it and other large European banks need to raise capital.

November factory orders also missed forecasts, contributing to the lackluster mood.

Bookings for factory goods rose 1.8% after a revised 0.2% drop the prior month, according to data from the Commerce Department. Demand for aircraft, autos and metals compensated for a drop in computers and electronics.

Despite the uptick, the gain fell short of forecasts, with analysts polled by Bloomberg expecting factory orders to have grown by 2.0%. October was previously reported as a 0.4% decrease.

In company news:

TiVo ( TIVO ) shares were up sharply after the digital video company agreed to a licensing agreement and settlement with AT&T ( T ) guaranteeing to pay TiVo at least $215 million over the next six years. On a per-subscriber basis, the new deal is significantly better than the company's $500 million settlement last May with satellite TV company Dish Network Corp. ( DISH ). Verizon Communications ( VZ ) faces a similar suit for allegedly using TiVo technology.

LCA-Vision ( LCAV ) climbed as much as 33% in early trade, reaching $4.09 a share, after the laser eye surgery firm said it performed 14,205 procedures during the fourth quarter of 2011, up from 10,671 proceedures in the year-ago period.

Commodities are mixed. February gold contracts is up $10.90 to $1,611.40 an ounce, while February crude oil contracts are down $0.46 to $102.50 a barrel.

In energy ETFs, the United States Oil Fund (USO) is down 0.55% to $39.49 and the United States Natural Gas fund (UNG) is up 1.39% to $6.56.

In precious metal ETFs, the SPDR Gold Trust (GLD) is up 0.43% to $156.58. Market Vectors Gold Miners (GDX) is up 0.5% to $50.33. iShares Silver Trust (SLV) is down 29 cents at $28.54.



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.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: DISH , LCAV , T , TIVO , VZ

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