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:
) shares were up sharply after the digital video company agreed to
a licensing agreement and settlement with AT&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. (
). Verizon Communications (
) faces a similar suit for allegedly using TiVo technology.
) 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%
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.
Copyright (C) 2013 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.