Benzinga Mid-Morning Market Update
Following the market opening Tuesday morning, the Dow traded down 0.14 percent to 13,563.98 while the NASDAQ fell 0.95 percent to 3,082.90. The S&P also fell, decreasing 0.32 percent to 1,451.25.
Earnings season has officially starts today, with Alcoa (NYSE: AA) kicking off the period when it reports earnings this afternoon.
Equities Trading UP Spectrum Brands (NYSE: SPB) traded up 11.98 percent Tuesday morning to $46.09 following the announcement that it would acquire Stanley's Black & Decker Home Improvement Group.
Gulfport Energy (NASDAQ: GPOR) was also up, rising 6.28 percent to $32.34 after the company confirmed its 2012 guidance.
Shares of Alpha Natural Resources (NYSE: ANR) also received a boost in early trading, increasing 4.87 percent to $7.11 after Goldman Sachs reiterated its Neutral rating of the company and lowered its price target.
Equities Trading DOWN Edwards Lifesciences (NYSE: EW) traded down 18.68 percent Tuesday morning to $87.35 after the company lowered its sales guidance.
Owens Corning (NYSE: OC) was also down, falling 8.92 percent to $30.92 after cutting its fiscal year forecast.
Shares of Netflix (NASDAQ: NFLX) took a hit Tuesday morning as well, trading down 8.57 percent to $67.22 after a Bank of America downgrade.
Commodities In commodity news, Oil traded up 1.48 percent to $90.65, while Gold traded up 0.06 percent to $1,776.70.
Silver was even Tuesday morning, trading at $34.02.
Eurozone German Chancellor Angela Merkel is paying Greece a visit today, and is receiving a less than welcoming reception by the populace. Watch for comments from Merkel and other leaders at the summit which may lead to market swings.
Economics In economic news, the NFIB Small Business Optimism figure was reported today, coming in at 92.8, slightly below the 93.5 estimate and the prior figure of 92.9.
(c) 2012 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Advertisement