End-of-Day Market Summary for October 21, 2011
This is your Benzinga news summary and traders' summary for Friday, October 21, 2011, covering headlines from Friday's trading session.
Today at market close, the Dow Jones Index traded up about points or 2.31%, the S&P 500 traded 1.88% higher, the Nasdaq Composite Index traded up 1.49%, and the U.S. dollar trades lower near the $76.50 level.
Overseas, European markets ended their trading session higher. Britain's FTSE 100 increased by 1.93%, Germany's DAX gained 3.55% and France's CAC 40 rallied by 2.83% on the session. Asian stocks ended their session mixed. China's Shanghai Index declined by 0.58%, Japan's Nikkei 225 slid by 0.04%, and the Hang Seng index increased by 0.24%.
On the economic calendar, the Chicago Fed Activity Index is set to come in on Monday, October 24 at 8:30am. Estimates are 0.21 and the prior number was -0.43. On the commodity front, gold and silver futures traded higher today, with gold trading about 0.3% higher today. Energy futures are higher as well with crude oil up over .8% near the $87.61 level and gasoline futures are trading higher by about 0.4%. Natural Gas futures are higher by about 0.4% and copper futures are trading over 0.7% higher.
On the earnings front this morning, General Electric (NYSE: GE) Reported Q3 EPS $0.31 vs $0.31 Est; Revenues $35.4B vs $34.94B Est; Verizon Communications (NYSE: VZ) Reported Q3 EPS $0.56 vs $0.56 Est; Revenues $27.91B vs $27.88B Est; McDonald's (NYSE: MCD) Reported Q3 EPS $1.45 vs $1.43; Revenues $7.17B vs $7.01B Est.
In corporate news, General Dynamics (NYSE: GD) announced that it was awarded $1 billion to help develop and upgrade a fleet of Canadian combat vehicles. The contract was awarded by the Canadian government, and will extend the fleet's lifecycle to 2035.
Entertainment Gaming Asia (NYSE: EGT) announced that it entered an agreement to increase revenue sharing rights with in the San Pedro VIP Club. Terms were undisclosed, but the deal is said to improve growth in one of the company's best venues.
AMAG Pharmaceuticals (NASDAQ: AMAG) announced that it held a special shareholders meeting regarding a merger with Allos Therapeutics. The shareholders did not have enough votes to approve the deal, which would have been funded via issuance of common stock.
Today's movers include:
Seagate Technology (NASDAQ: STX) +24.88% after reporting upbeat earnings yesterday.
Synaptics (NASDAQ: SYNA) +19.28% following multiple positive analyst comments.
Harman International (NYSE: HAR) +19.96% on upbeat earnings.
Cytec Industries (NYSE: CYT) +13.88% on upbeat earnings.
Acme Packet (NASDAQ: APKT) -19.77% on downbeat Q3 earnings.
Pharmasset (NASDAQ: VRUS) -10.23% after Abbott Labs releases hepatitis C treatment data.
Basic Energy Services (NYSE: BAS) -8.14% after reporting lower than expected revenue.
RSC Holdings (NYSE: RRR) -8.13% despite of reporting better than expected earnings yesterday.
This concludes your news summary for October 21, 2011.
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