This is your Benzinga news summary for Thursday, December 8, 2011, covering headlines from Thursday's daytime trading session.
Today at market close, the Dow Jones Index traded down about 198.44 points or 1.63%, the S&P 500 traded 2.11% lower, the Nasdaq Composite Index traded down 1.99%, and the U.S. dollar trades slightly higher near the $78.90 level.
Earlier today, JMP Securities upgraded Alterra Capital ALTE to Outperform and Piper Jaffray upgraded Pacific Sunwear PSUN to Neutral. View all of today's upgrades here.
UBS downgraded NRG Energy NRG to Neutral and Morgan Stanley downgraded Cree CREE to Equal-Weight. View all of today's downgrades here.
Overseas, European markets ended their trading session lower. Britain's FTSE 100 lost 1.14%, Germany's DAX decreased by 2.01% and France's CAC 40 slid by 2.53% on the session. Asian stocks ended their session lower too. China's Shanghai Index slid by 0.13%, Japan's Nikkei 225 decreased by 0.66%, and the Hang Seng index lost 0.69%.
On the economic calendar, Initial Jobless Claims came in at 381K versus an estimate of 395K; Continuing Claims came in at 3583K versus an estimate of 3700K; Wholesale Inventories came in at 1.6% versus an estimate of 0.3%.
On the commodity front, gold and silver futures traded mixed today, with gold trading about 0.04% lower today. Energy futures are mixed, however, with crude oil down over 2.5% near the $97.90 level and gasoline futures are trading lower by about 1%. Natural Gas futures are higher by about 0.5% and copper futures are trading over 0.07% lower.
On the earnings front today, Smith & Wesson Boosts Forecast; Guides Q3 Revenue $92-96M vs $101.24M Est; Coopers Reports Q4 EPS $1.46 vs $1.21 Est; Revenues $360.90M vs $356.93M Est; Comtech Telecommunications Reports Q1 EPS $0.41 vs $0.30 Est; Revenues $113.40M vs $93.50M Est.
In corporate news, Center Bancprp CNBC announced that that it has repurchased TARP-issued warrants, worth $10 million.
Analogic Corp ALOG announced that its Board of Directors has a stock repurchase program worth up to $30 million.
Stone Energy Corp SGY announced that it will temporarily suspend operations in Louisiana, but will continue in 2012.
Today's Movers include:
Market News and Data brought to you by Benzinga APIsE-Commerce China Dangdang DANG +20.2% after announcing it will launch an e-book platform
Central European Distribution Corp CEDC +19.2% after analysts upgraded the stock
G-III Apparel Group GIII +17.9% after positive earnings
AMR Corp AMR -31.7% after being downgraded by various Wall Street Analysts
Invacare Corp IVC -28.8% on insider selling
Blyth BTH -14.6% after announcing change in fiscal year from Jan 31 to Dec 31
This concludes your news summary for December 8, 2011.© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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