Mid-Day Market Update: Markets Fall Further, BlackBerry Doubles Down on its Rally

Loading...
Loading...
Midway through trading Monday, the Dow traded down 0.83 percent to 13,893.18 while the NASDAQ fell 1.16 percent to 3,142.18. The S&P also fell, decreasing 0.89 percent to 1,499.25.
Top Headline
Making headlines this morning was Oracle's
ORCL
acquisition of Acme Packet
APKT
for $29.25 per share, or roughly $1.7 billion. Following the news, Acme Packet shares shot up over 22 percent, above the purchase price. Adding to the rally was an earnings beat by Acme Packet this morning, giving traders another reason to get bullish on the stock, but the acquisition price has kept a ceiling on shares.
Equities Trading UP
Sonus Networks
SONS
gained an impressive 14.08 percent to $2.60 in early trading as the company got a boost from the Acme Packet acquisition news. Cyberonics
CYBX
was also up, gaining 8.14 percent to $47.96 after releasing an update on the Hagerty lawsuit it was involved in, saying that it was voluntarily dismissed on February 1st. BlackBerry
BBRY
traded up 12.60 percent to $14.60 on its first day of trading since changing its ticker symbol from RIMM. The boost was attributed to the company's commercial debut of BB10 during Super Bowl Sunday and some strong sales data coming from the UK and UAE.
Equities Trading DOWN
Loading...
Loading...

Herbalife
HLF
took a hit in early trading, falling 3.62 percent to $33.80 after the FTC announced a probe into the company's dealings, sending fear throughout the street that Bill Ackman's thesis may indeed be right. Gannett
GCI
was also down, falling 5.39 percent to $18.77 after the company released a disappointing earnings release Monday morning. Sohu.com
SOHU
fell 5.69 percent to $46.42 after the company posted a beat on earnings but worse than expected guidance Monday morning.
Commodities
In commodity news, oil traded down 1.48 percent to $96.32, while gold traded up 0.36 percent to $1,676.40. Silver traded down 0.20 percent Monday to $31.76.
Eurozone
In the eurozone this morning, markets fell lower, lead downward by Italian shares as regulators began a formal investigation into Banca Monte dei paschi di Siena following its bailout request. The Spanish Ibex was down 0.89 percent while the Italian MIB index was down a painful 1.75 percent.
Economics
In economic news for Monday, factory orders came in at 1.80 percent for December, mising the projected 2.30 percent but beating the prior report of 0.00 percent by a long shot.
Loading...
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceCommoditiesM&AEcon #sEconomicsHotIntraday UpdateMarketsAnalyst RatingsMoversTechTrading Ideas
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...