Benzinga Mid-Afternoon Market Update
Towards the end of trading Tuesday, the Dow traded down 1.71 percent to 13,118.00 while the NASDAQ fell 0.75 percent to 2,994.21. The S&P also fell, decreasing 1.31 percent to 1,414.97.
As a heads up for the week, we have now entered the most busy period of earnings season. Some significant companies that will announce this week include Apple (NASDAQ: AAPL), Facebook (NASDAQ: FB), Amazon (NASDAQ: AMZN), Raytheon (NYSE: RTN), and Sprint Nextel (NYSE: S).
Top Headline Apple (NASDAQ: AAPL) held a press event this afternoon, where it not only unveiled the expected iPad mini, but a fourth generation iPad, and a new iMac. Despite the releases, investors were not thrilled, and Apple shares fell a little over 2 percent.
Equities Trading UP Whirlpool (NYSE: WHR) traded up 8.25 percent to $93.43 towards the close Tuesday after a significant earnings beat followed by an upgrade by KeyBanc capital markets.
Pandora (NYSE: P) was also up, rising 8.13 percent to $9.84 as investor concerns about an Apple internet radio product faded after the company did not announce the product at its media day today.
Shares Harley-Davidson (NYSE: HOG) continued to rise, up 8.49 percent to $47.22 following an earnings beat Tuesday morning.
Equities Trading DOWN Monster Beverage (NASDAQ: MNST) lost 10.41 percent, falling to $40.97 after news that a lawsuit has been brought against the company regarding deaths that have been linked to its energy drink.
Du Pont (NYSE: DD) continued to fall, down 9.57 percent to $45.00 after the company missed earnings by over 31 percent this morning.
Autoliv (NYSE: ALV) fell 10.11 percent to $57.19 after the company reported a drop in its third-quarter profit Tuesday.
Commodities In commodity news, oil traded down 0.48 percent to $88.30, while gold traded down 1.17 percent to $1,710.10. Silver traded down 0.64 percent Tuesday to $31.61. Euro Zone In Eurozone news this morning, Moody's downgraded the bond ratings of 5 Spanish ratings, including Catalonia. The vote of no confidence by the ratings agency has sent European markets down for the day. Economics The only economic release for Tuesday was the Richmond fed manufacturing index, which came in at -7, well below the estimate of 5, and the prior figure of 4.
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