End-of-Day Market Summary for November 21, 2011
This is your Benzinga news summary and traders' summary for Monday, November 21, 2011, covering headlines from Monday's trading session.
Today at market close, the Dow Jones Index traded down about 248.85 points or 2.11%, the S&P 500 traded 1.86% lower, the Nasdaq Composite Index traded down 1.92%, and the U.S. dollar trades slightly higher near the $78.45 level.
Earlier today, Bank of America upgraded Newfield Exploration (NYSE: NFX) to Neutral and JP Morgan upgraded Haynes International (NASDAQ: HAYN) to Overweight. View all of today's upgrades here.
Morgan Stanley downgraded Walgreens (NYSE: WAG) to Under-Weight and Bank of America downgraded Regeneron Pharmaceuticals (NASDAQ: REGN) to Neutral. View all of today's downgrades here.
Overseas, European markets ended their trading session lower. Britain's FTSE 100 lost 2.62%, Germany's DAX decreased by 3.35% and France's CAC 40 slid by 3.41% on the session. Asian stocks ended their session lower, as well. China's Shanghai Index lost 0.03%, Japan's Nikkei 225 decreased by 0.32%, and the Hang Seng index slid by 1.44%.
On the economic calendar, Oct Chicago Fed Nat Activity Index (0.13) vs 0.19 Est; Oct Existing Home Sales MoM 1.4% vs (2.2%) Est; Oct Existing Home Sales 4.97M vs 4.80M Est. On the commodity front, gold and silver futures traded higher today, with gold trading about 0.3% higher today. Energy futures are mixed, with crude oil down over 0.4% near the $97.25 level and gasoline futures are trading higher by about 0.6%. Natural Gas futures are higher by about 2.8% and copper futures are trading over 0.5% higher.
On the earnings front this afternoon, Hewlett-Packard (NYSE: HPQ) Reports Q4 EPS $1.17 vs $1.13 Est; Revenues $32.30B vs $32.05B Est; Analog Devices (NYSE: ADI) Reports Q4 EPS $0.60 vs $0.63 Est; Revenues $716M vs $727.43M Est; Brown Shoe (NYSE: BWS) Reports Q3 EPS $0.51 vs $0.51 Est; Revenues $713.80M vs $777.32M Est; Collective Brands (NYSE: PSS) Reports Q3 EPS $0.61 vs $0.49 Est; Sales $894.4M vs $907.47M Est.
In corporate news, DuPont (NYSE: DD) announced that it will be working with Evogene in a multiyear collaboration to develop resistance to soybean rust.
Nanometrics (NASDAQ: NANO) announced that it will acquire Nanda Technologies for $23 million in cash. It expects the acquisition to be dilutive to Q4 earnings.
The Laclede Group (NYSE: LG) announced that its Chairman and CEO, Douglas Yaeger, will be retiring from both positions.
This concludes your news summary for November 21, 2011.
