Mid-Day Market Update: Markets Largely Flat, McMoRan Falls Further
Mid-Way through trading Monday, the Dow traded down 0.60 percent to 12,932.20 while the NASDAQ rose 0.02 percent to 2,967.43. The S&P also fell, decreasing 0.50 percent to 1,402.14.
McGraw Hill (NYSE: MHP) announced it would sell its education unit to Apollo Global Management for $2.5 billion this morning, causing its share price to rise just under 2.6 percent.
Equities Trading Up
3D Systems (NYSE: DDD) traded up 11.36 percent to $46.48 following the release of its new line of 3D printers.
Infinera (NASDAQ: INFN) rose 8.02 percent to $5.25 after the company's CEO purchased $223,000 worth of stock this morning.
Shares of Stratasys (NASDAQ: SSYS) were also up, rallying 7.19 percent to $75.87 , possibly linked to the Infinera rally.
Equities Trading Down
Aeropostale (NYSE: ARO) fell 6.64 percent to $13.49 following a downgrade on Sunday at Janney Montgomery Scott and positive comments towards its competitor Abercrombie.
Shares of McMoRan Exploration (NYSE: MMR) dropped 15.30 percent to $10.55 on higher than average volume.
Generac Holdings (NYSE: GNRC) also fell, dropping 9.15 percent to $32.06 after the company announced a secondary offering Monday morning.
In commodity news, oil traded down 0.41 percent to $87.87, while gold traded down 0.12 percent to $1,749.30.
Silver traded down 0.04 percent Tuesday to $34.08.
European markets fell early this morning as European finance ministers continue to meet to discuss the Greek bailout for the third straight week.
In economic news, the Chicago fed national activity index came in at -0.56, below the previous figure of 0.00, while the Dallas fed manufacturing index was reported at -2.8, well below the expected 2.5 and the prior release of 1.8.
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