Market Overview

Benzinga Mid-Morning Market Update

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Following the market opening Tuesday morning, the Dow was down about 0.22 percent, or roughly 29.42 points. The NASDAQ fell about 0.25 percent, or 7.86 points, while the S&P traded down 0.34 percent, decreasing 5.03 points.

Shares of Velti (NASDAQ: VELT) soared in early trading Tuesday, jumping 15.12 percent to $9.90 following the announcement that it had closed a $27 million deal.

Energizer (NYSE: ENR) also got a boost Tuesday after announcing that its cost cutting campaign had saved it between $175 and $200 million dollars. Shares traded up 9.14 percent around $74.13.

In aftermarket trading yesterday, Apple (NASDAQ: AAPL) crossed the $700 mark for the first time in its history, and opened just under that mark 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 $10.70B. 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 2.07 percent around $87.43.

Shares of Advanced Micro Devices (NASDAQ: AMD) took a hit Tuesday morning, falling 6.73 percent and trading near $3.74 following the resignation of its CFO.

HNI (NYSE: HNI) also fell, trading down 12.02 percent around $27.00 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: Earnings News Guidance Retail Sales Management Events Econ #s Economics

 

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