Market Overview

End-of-Day Market Summary for December 7, 2011


This is your Benzinga news summary and traders' summary for Wednesday, December 7, 2011, covering headlines from Wednesday's trading session.

Today at market close, the Dow Jones Index traded up about 46.24 points or 0.38%, the S&P 500 traded 0.2% higher, the Nasdaq Composite Index traded down 0.01%, and the U.S. dollar trades slightly lower near the $78.50 level.

Earlier today, Wedbush upgraded Talbots (NYSE: TLB) to Neutral and Goldman Sachs upgraded Duke Energy (NYSE: DUK) to buy. View all of today's upgrades here.

Wells Fargo downgraded SuccessFactors (NYSE: SFSF) to Market Perform and KeyBanc downgraded Summit Hotels (NYSE: INN) to Hold. View all of today's downgrades here.

Overseas, European markets ended their trading session lower. Britain's FTSE 100 lost 0.39%, Germany's DAX decreased by 0.57% and France's CAC 40 slid by 0.11% on the session. Asian stocks ended their session higher, however. China's Shanghai Index rallied by 0.38%, Japan's Nikkei 225 increased by 1.71%, and the Hang Seng index gained 1.58%.

On the economic calendar, MBA Mortgage Applications came in at 12.8% versus a previous number of -11.7%; Consumer Credit came in at $7.645 billion versus an estimate of %7 billion. On the commodity front, gold and silver futures traded mixed today, with gold trading about 0.04% higher today. Energy futures are lower, however, with crude oil down over 0.7% near the $100.50 level and gasoline futures are trading higher by about 2.1%. Natural Gas futures are lower by about 1.7% and copper futures are trading over 0.07% lower.

On the earnings front today, G-III Apparel Group (NASDAQ: GIII) Reports Q3 EPS $2.16 vs $2.14 Est; Revenues $510.00M vs $497.49M Est; Verint Systems (NASDAQ: VRNT) Reports Q3 EPS $0.59 vs $0.61 Est; Revenues $204.60M vs $199.00M Est.

In corporate news, Yahoo! (NASDAQ: YHOO) announced that it was awarded $610 million in court from spammers who sent fake Yahoo! lottery emails to users.

Stryker (NYSE: SYK) announced that it will be repurchasing $500 million in shares and will be increasing its common stock dividend by 18% to $0.2125 per share.

Extra Space Storage (NYSE: EXR) announced that executive management team will be restructuring and assuming different positions.

Today's Movers include:

Men's Wearhouse (NYSE: MW) +20.2% on good earnings but poor guidance estimates

Powell Industries (NASDAQ: POWL) +17.8% despite missing Q4 earnings estimates

Great Basin Gold (NYSE: GBG) +18.8% on heavy volume

Frontline (NYSE: FRO) -12.4% after being downgraded by various Wall Street Analysts

Vina Concha y Toro (NYSE: VCO) -9.4% on heavy volume

Jaguar Mining (NYSE: JAG) -9.3% after CEO suddenly left company

This concludes your news summary for December 7, 2011.

Posted-In: News Broad U.S. Equity ETFs Upgrades Downgrades Global Econ #s Economics After-Hours Center Best of Benzinga


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