Mid-Morning Market Update: Markets Rise; FireEye Acquires Mandiant For Around $1B
Following the market opening Friday, the Dow traded up 0.32 percent to 16,494.19 while the NASDAQ surged 0.10 percent to 4,147.05. The S&P also rose, gaining 0.24 percent to 1,836.30.
FireEye expected Q4 revenue of $55 million to $57 million, versus its earlier forecast of $52 million to $54 million.
Equities Trading UP
Shares of FireEye (NASDAQ: FEYE) got a boost, shooting up 21.81 percent to $50.10 after the company reported that it has acquired privately-held Mandiant for $1.05 billion in a cash and stock deal.
Resources Connection (NASDAQ: RECN) shot up 9.27 percent to $15.56 after the company reported upbeat FQ2 earnings.
Rite Aid (NYSE: RAD) was also up, gaining 7.44 percent to $5.42 after the company reported a 2.9% gain in its December same-store sales.
Equities Trading DOWN
Shares of IPC The Hospitalist Company (NASDAQ: IPCM) were down 3.73 percent to $56.32 after Credit Suisse downgraded the stock from Outperform to Neutral.
Owens-Illinois (NYSE: OI) was down, falling 2.84 percent to $34.52 after Bank of America downgraded the stock from Buy to Neutral.
In commodity news, oil traded down 0.06 percent to $95.38, while gold traded up 0.34 percent to $1,229.40.
Silver traded down 0.21 percent Friday to $20.09, while copper fell 0.74 percent to $3.36.
European shares were higher today. The Spanish Ibex Index rose 0.64 percent, while Italy's FTSE MIB Index surged 1.15 percent. Meanwhile, the German DAX gained 0.40 percent and the French CAC 40 rose 0.50 percent while U.K. shares climbed 0.32 percent.
The Energy Information Administration will release weekly report on petroleum inventories at 11:00 a.m. ET.
Federal Reserve Chairman Ben Bernanke is set to speak at 2:30 p.m. ET.
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