Mid-Morning Market Update: Markets Looking Strong, LinkedIn on a Tear
Following the market opening Friday, the Dow traded up 0.44 percent to 14,005.18 while the NASDAQ rose 0.83 percent to 3,191.18. The S&P also rose, increasing 0.49 percent to 1,516.25.
LinkedIn (NASDAQ: LNKD) absolutely crushed on its earnings report after the close Thursday, sending shares up over 18 percent, breaking all time highs and sending trader sentiment through the roof.
Equities Trading UP
Activision Blizzard (NASDAQ: ATVI) shot up 7.71 percent to $12.99 following a big earnings beat on top and bottom lines and some solid guidance after the close on Thursday.
Shares of McDermott International (NYSE: MDR) were also up, gaining 6.53 percent to $13.21 after being initiated by HSBC Securities at Neutral.
AOL (NYSE: AOL) was up as well, rising 10.63 percent to $34.75 after the company beat on top and bottom lines in its earnings report this morning.
Equities Trading DOWN
Nuance Communications (NASDAQ: NUAN) dropped 19.15 percent to $19.85 after the company missed on earnings this morning and drastically lowered its guidance.
Riverbed Technology (NASDAQ: RVBD) was also down, falling 19.10 percent to $16.26 after the company reported EPS in line and beat on earnings, but received a slew of downgrades as analysts were disappointed with the revenue figure.
Shares of Coinstar (NASDAQ: CSTR) took a hit as well, dropping 8.94 percent to $47.44 after the company released a disappointing forecast for the first-quarter of 2013.
In commodity news, oil traded up 0.64 percent to $96.44, while gold traded down 0.11 percent to $1,668.40.
Silver traded up 0.19 percent Friday to $31.59.
In the Eurozone this morning markets were up across the board on positive sentiment from China and relaxed concerns about the strength of the Euro. Leading the rise was the Italian MIB Index, which was up 0.39 percent and U.K shares which rose 0.33 percent.
In economic news trade balance came in at -38.50 billion, crushing the estimates of -46.0 billion and the prior report of -48.6 billion.
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