End-of-Day Market Summary for November 14, 2011
This is your Benzinga news summary and traders' summary for Monday, November 14, 2011, covering headlines from Monday's trading session.
Today at market close, the Dow Jones Index traded down about 74.70 points or 0.61%, the S&P 500 traded 0.96% lower, the Nasdaq Composite Index traded down 0.80%, and the U.S. dollar trades slightly higher near the $77.70 level.
Earlier today, Sterne Agee upgraded CSX (NYSE: CSX) to Buy and JP Morgan upgraded Tyson (NYSE: TSN) to Overweight. View all of today's upgrades here.
Citi downgraded Alimera Sciences (NASDAQ: ALIM) to Neutral and Brean Murray Carret downgraded Ctrip.com International (NASDAQ: CTRP) to Hold. View all of today's downgrades here.
Overseas, European markets ended their trading session lower. Britain's FTSE 100 lost 0.47%, Germany's DAX decreased by 1.19% and France's CAC 40 slid by 1.28% on the session. Asian stocks ended their session higher. China's Shanghai Index gained 1.92%, Japan's Nikkei 225 increased by 1.05%, and the Hang Seng index rallied by 1.94%.
On the economic calendar, Producer Price Index, PPI Food & Energy, and Advance Retail Sales come out tomorrow morning at 8:30am. On the commodity front, gold and silver futures traded up today, with gold trading about 0.2% higher today. Energy futures are lower, with crude oil down over 0.8% near the $98.20 level and gasoline futures are trading lower by about 2.75%. Natural Gas futures are lower by about 3.7% and copper futures are trading over 0.2% higher.
On the earnings front this afternoon, Urban Outfitters (NASDAQ: URBN) Reports Q3 EPS $0.33 vs $0.34 Est; Sales $610M vs $629.19M Est; Lowe's (NYSE: LOW) Reports Q3 EPS $0.35 vs $0.33 Est; Revenues $11.85B vs $11.70B Est; ZAGG (NASDAQ: ZAGG) Reports Q3 EPS $0.16 vs $0.07 Est ; Revenues $45.9M vs $44.68M Est.
In corporate news, Cabot Microelectronics Corp (NASDAQ: CCMP) announced that its allegations have been upheld in a federal circuit court of appeals. The company fought against DuPont Air Product NanoMaterials regarding tungsten-based patents.
Landauer (NYSE: LDR) announced that it will acquire IZI Medical Products for $93 million. the company hopes to grow its product offerings via the acquisition.
DFC Global (NASDAQ: DLLR) announced that Ken Schwenke will be appointed its President. He will report to the company's Chairman and CEO, effective immediately.
Today's movers include:
VeriFone Systems (NYSE: PAY) +7.60% after the company announced it will acquire an e-payments company for $820M
Qihoo 360 Technology (NASDAQ: QIHU) +7.32% may be attributed to positive analyst comments.
Ctrip.com International (NASDAQ: CTRP) -12.46% after negative analyst comments this morning.
Moneygram International (NYSE: MGI) -9.41% after announcing a secondary offering of 11.25M shares.
GeoEye (NASDAQ: GEOY) -9.51% after a negative deal reporter story.
This concludes your news summary for November 14, 2011.
