Market Overview

Mid-Day Market Update: AutoNavi Surges On Alibaba Offer; Boardwalk Pipeline Shares Fall

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Midway through trading Monday, the Dow traded down 0.11 percent to 15,777.01 while the NASDAQ surged 0.40 percent to 4,142.17. The S&P also fell, dropping 0.03 percent to 1,796.53.

Top Headline
Hasbro (NASDAQ: HAS) reported downbeat fourth-quarter results. Hasbro's quarterly net earnings dropped to $129.8 million, or $0.98 per share, versus $130.3 million, or $0.99 per share, in the year-ago period. Excluding special items, it earned $1.12 per share, versus analysts' estimates of $1.22 per share Its sales came in flat at $1.28 billion, versus estimates of $1.30 billion.

Equities Trading UP
AutoNavi Holdings (NASDAQ: AMAP) shot up 24.24 percent to $20.55 on Alibaba $21.00 per ADS offer.

Shares of China Distance Education Holdings (NYSE: DL) got a boost, shooting up 5.65 percent to $21.13 after the company lifted its Q1 revenue outlook.

Red Robin Gourmet Burgers (NASDAQ: RRGB) was also up, gaining 9.87 percent to $73.17 after Bank of America upgraded the stock from Underperform to Buy.

Equities Trading DOWN
Shares of Boardwalk Pipeline Partners LP (NYSE: BWP) were down 39.08 percent to $14.68 after the company reported weak Q4 results and slashed its quarterly distribution.

Changyou.com (NASDAQ: CYOU) shares tumbled 13.12 percent to $26.02 after the company issued a weak Q1 guidance and announced the resignation of its CFO.

Sohu.com (NASDAQ: SOHU) was down, falling 7.02 percent to $66.50 after the company reported a drop in its quarterly earnings.

Commodities
In commodity news, oil traded up 0.54 percent to $100.42, while gold traded up 0.98 percent to $1,275.30.

Silver traded up 0.90 percent Monday to $20.12, while copper fell 0.56 percent to $3.22.

Eurozone
European shares were mixed today.

The Spanish Ibex Index fell 0.89 percent, while Italy's FTSE MIB Index declined 0.05 percent.

Meanwhile, the German DAX dropped 0.13 percent and the French CAC 40 gained 0.21 percent while U.K. shares rose 0.30 percent.

Economics
The TD Ameritrade IMX for January will be released today.

Posted-In: Earnings News Guidance Eurozone Futures Forex Global Econ #s

 

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