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Mid-Morning Market Update: Markets Rise, Dell Reaps Benefits of Goldman Upgrade
12/3/2012 10:43:00 AM
Following the market opening Monday, the Dow traded down 0.11 percent to 13,011.30 while the NASDAQ rose 0.27 percent to 3,018.25. The S&P also rose, increasing 0.07 percent to 1,417.21.
Equities Trading UP
Shares of Supervalu (NYSE: SVU ) rose 7.77 percent to $2.57 after Bloomberg reported that the company's talks with Cerberus had started again.
Longwei Petroleum Investment Holding (NYSE: LPH ) was also up, gaining 7.32 percent to $2.64 following the expiration of the company's warrants Monday morning.
Equities Trading DOWN
Emulex (NYSE: ELX ) was also down, falling 4.76 percent to $7.00 after it was downgraded to Sell from Neutral at Goldman Sachs.
Shares of SunCoke Energy (NYSE: SXC ) were down as well, dropping 8.37 percent to $14.89 following the announcement Friday that the company had elected to defer its IPO of its subsidiary.
Silver traded down 0.43 percent Friday to $33.64.
Over all, European markets were up across the board this morning following the release of manufacturing PMI's, and seemingly ignored the downgrade of the bailout funds.
Markit PMI was also reported, coming in at 52.8, slightly above the projected 52.1 and the previous report of 52.4.
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