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Mid-Afternoon Market Update: Groupon Continues Rally, Gun Stocks Remain Down
12/7/2012 4:08:00 PM
Toward the end of trading Friday, the Dow traded up 0.55 percent to 13,146.50 while the NASDAQ fell 0.32 percent to 2,979.70. The S&P also rose, increasing 0.28 percent to 1,417.31.
Equities Trading UP
The GEO Group (NYSE: GEO ) was also up, gaining 9.07 percent at the open to $32.11 following the announcement that the company will move ahead with its REIT conversion plans.
Sears Holdings (NASDAQ: SHLD ) gained 6.41 percent to $42.38 after the company traded on much higher than average volume.
Equities Trading DOWN
Smith & Wesson Holding Corporation (NASDAQ: SWHC ) fell sharply at the market opening, losing 8.20 percent despite a strong earnings report yesterday after the close.
Shares of Regal Entertainment Group (NYSE: RGC ) dropped 2.83 percent to $14.42 following a Piper Jaffray downgrade to Neutral this morning.
Silver traded up 0.03 percent Friday to $33.07.
The European markets fell across the board this morning as investors displayed their fears of economic contraction, with the Italian MIB index leading the fall.
Nonfarm payrolls were also reported, coming in at 146 thousand, well above the expected 85 thousand, but below the prior report of 171 thousand. Private nonfarm payrolls came in at 147 thousand, well above the projected 90 thousand, but below the previous release of 184 thousand.
Manufacturing payrolls were released as well, coming in at -7 thousand, below the expected -4 thousand, and far below the previously reported 10 thousand.
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