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Mid-Day Market Update: Markets Go Red, SolarCity IPO a Success
12/13/2012 1:54:00 PM
Mid-way through trading Thursday, the Dow traded down 0.38 percent to 13,194.63 while the NASDAQ fell 0.67 percent to 2,993.63. The S&P also fell, decreasing 0.55 percent to 1,420.69.
Equities Trading UP
Shares of SollarCity (NASDAQ: SCTY ) saw a lot of attention following their IPO this morning, trading up 51.13 percent to $12.09.
NII Holdings (NASDAQ: NIHD ) was also up, gaining 11.01 percent to $5.95 on a strong technical rally.
Equities Trading DOWN
Harbinger Group (NYSE: HRG ) was also down, falling 26.52 percent to $7.51 after the company priced its 20 million share secondary offering at $7.50 per share.
Shares of Allot Communications (NASDAQ: ALLT ) were down as well, dropping 12.24 percent to $17.64 following a downgrade at Wunderlich Securities this morning.
Silver traded down 1.38 percent Thursday to $32.33.
PPI year over year was reported as well, coming in at 1.50 percent, below the expected 1.80 percent and the prior report of 2.30 percent, while PPI month over month was reported at -0.8 percent, below the anticipated -0.50 percent and the prior release of -0.20 percent.
Core CPI year over year came in at 2.2 percent, matching the street estimates, and slightly higher than the previous 2.1 percent, while core CPI month over month was reported at 0.1 percent, again equal to consensus while beating the prior figure of -0.20 percent.
Advance retail sales were also reported, coming in at 0.3 percent, slightly below the anticipated 0.5 percent, but beating the prior report of -0.30 percent. Advance retail sales excluding autos came in flat at 0.00 percent, equal to estimates and the prior report, while advance retail sales excluding autos and gas came in above the expected 0.40 percent at 0.70 percent, well above the prior figure of -0.1 percent.
Finally, business inventories were reported at 0.4 percent, equal to consensus but lower than last month's reading of 0.70 percent.
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