Market Overview

Benzinga Mid-Afternoon Update

Midway through the afternoon Tuesday, the Dow was down about 0.09 percent, or roughly 12 points. The NASDAQ fell about 0.17 percent, or 5.54 points, while the S&P traded down 0.29 percent, dropping 4.31 points.

Shares of Velti (NASDAQ: VELT) consolidated their gain midway through Tuesday, rising 11.63 percent to $9.60 following the announcement that it had closed a $27 million deal.

Energizer (NYSE: ENR) continues its rally Tuesday after announcing that its cost cutting campaign had saved it between $175 and $200 million dollars. Shares traded up 11.48 percent around $75.72.

Shiff Nutrition's (NYSE: SHF) reported EPS of 20 cents is up from the estimated EPS of 18 cents with total sales coming in at $85.1 million up 46 percent from the previous years. Shiff guided next quarter's EPS at $0.40-0.43. Shiff Nutrition is trading up 12.54 percent or $23.52.

In aftermarket trading yesterday, Apple (NASDAQ: AAPL) crossed the $700 mark for the first time in its history, and is floating around $700.20 late Tuesday.

Fedex (NYSE: FDX) reported an earnings beat Tuesday morning with its EPS coming in at $1.45, above the estimated $1.41, while revenue came in at $10.79 billion, higher than the expected $10.70 billion. The company guided its second-quarter EPS at $1.30-$1.45, lower than the estimated $1.67, citing a weakening economy. Shares of Fedex traded down 2.78 percent around $86.60.

Shares of Advanced Micro Devices (NASDAQ: AMD) continued their tumble Tuesday, falling 6.61 percent and trading near $3.65 following the resignation of its CFO.

Pandora (NYSE: P) continues to slide on speculation that Apple is developing its own music-streaming project. Pandora is trading down 5.26 percent around $14.31.

HNI (NYSE: HNI) also continued to fall, trading down 11.65 percent around $27.12 after significantly lowering its earnings guidance.

In economic reports, Net long-term TIC flows came in at $67 billion, much greater than the expected $27 billion, and far higher than the previous $9.3 billion. Total net TIC flows came in at $73.7B, quite an increase over the prior figure of $15.1 billion.

Redbook US retail sales were also reported today and increased 2.5 percent for the first three weeks of September when compared to last year.

Posted-In: News Intraday Update Movers

 

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