Mid-Morning Market Update: Markets Rise; Wal-Mart Reports Solid Thanksgiving Day Results

Following the market opening Friday, the Dow traded up 0.35 percent to 16,153.30 while the NASDAQ surged 0.39 percent to 4,060.43. The S&P also rose, gaining 0.25 percent to 1,811.71.

Top Headline
Wal-Mart Stores WMT reported record-breaking Thanksgiving Day results.
The company processed more than 10 million register transactions in its stores between 6 p.m. and 10 p.m. on Thanksgiving Day. Walmart also recorded nearly 400 million page views on its website.
Wal-Mart sold 2.8 million towels, 1.9 million dolls, 1.4 million tablets, 2 million televisions and 300,000 bicycles that day.

Equities Trading UP
Rio Tinto plc RIO shot up 5.26 percent to $53.62 after the company announced its plans to suspend alumina production at Gove alumina refinery.

Shares of Telecom Italia SpA TI got a boost, shooting up 4.15 percent to $9.54 after HSBC upgraded the stock from Neutral to Overweight.

Target TGT was also up, gaining 0.61 percent to $64.80 after the company announced a strong start to Black Friday sale.

Equities Trading DOWN
Shares of Fortinet FTNT were down 11.10 percent to $17.46 after the company appointed Nancy Bush as interim CFO.

Renren RENN shares tumbled 10.15 percent to $3.01 after the company reported downbeat Q3 revenue and issued a weak Q4 revenue forecast. Jefferies downgraded the stock from Hold to Underperform.
Organovo Holdings ONVO was down, falling 1.85 percent to $9.01 after announcing that it may sell up to 4 million shares through an equity distribution agreement via JMP Securities.

Commodities
In commodity news, oil traded up 0.39 percent to $92.66, while gold traded up 1.06 percent to $1,251.00.
Silver traded up 1.56 percent Friday to $19.99, while copper rose 0.83 percent to $3.22.

Eurozone
European shares were higher today. The Spanish Ibex Index rose 0.38 percent, while Italy’s FTSE MIB Index gained 0.28 percent. Meanwhile, the German DAX surged 0.05 percent and the French CAC 40 jumped 0.07 percent while U.K. shares rose 0.30 percent.

Posted In: NewsGlobalEcon #sEconomicsIntraday UpdateMarkets
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