Market Overview

End-of-Day Market Summary for January 18, 2012


This is your Benzinga news summary for Wednesday, January 18, 2012, covering headlines from Wednesday's daytime trading session.

Today at market close, the Dow Jones Index traded up about 96.88 points 0.78%, the S&P 500 traded 1.11% higher, the Nasdaq Composite Index traded up 1.53%, and the U.S. dollar trades slightly lower near the $80.70 level.

Earlier today, Morgan Stanley upgraded UBS (NYSE: UBS) to Overweight and JP Morgan upgraded Belo (NYSE: BLC) to Overweight. View all of today's upgrades here.

Tudor Pickering downgraded Chevron (NYSE: CVX) to Hold and Wedbush downgraded TransDigm (NYSE: TDG) to Neutral. View all of today's downgrades here.

Overseas, European markets ended their trading session mixed. Britain's FTSE 100 gained 0.15%, Germany's DAX increased by 0.34% and France's CAC 40 tumbled by 0.15% on the session. Asian stocks ended their session higher. China's Shanghai Index slid by 1.37%, Japan's Nikkei 225 increased by 0.99%, and the Hang Seng index gained 0.3%.

On the economic calendar, MBA Mortgage Applications came in at 23.1% versus a prior number of 4.5%, PP MoM came in at -0.1% versus an estimate of 0.1%, PPI YoY came in at 4.8% versus an estimate of 5.1%, and Industrial Production came in at 0.4% versus an estimate of 0.5%. On the commodity front, gold and silver futures traded mixed today, with gold trading about 0.1% higher today. Energy futures are mixed, with crude oil up over 0.2% near the $100.90 level and gasoline futures are trading higher by about 2.2%. Natural Gas futures are lower by about 0.2% and copper futures are trading over 0.3% higher.

Today's afternoon earnings announcements included eBay Reports Q4 EPS $0.60 vs $0.57 Est; Revenues $3.38B vs $3.32B Est; F5 Networks Reports Q1 EPS $1.03 vs $1.01 Est; Revenues $322.4M vs $319.03M Est; Plexus Reports Q1 EPS $0.51 vs $0.48 Est; Revenues $529.70M vs $527.80M Est; Kinder Morgan Energy Partners Reports Q4 EPS $0.51 May Not Compare vs $0.61 Est; Revenues $2.02B vs $2.38B Est.

In corporate news, Myriad Genetics (NASDAQ: MYGN) announced that it has acquired the rights for the RAD51C gene. This gene is implicated in breast and ovarian cancer.

Vanguard Natural Resources (NYSE: VNR) announced that it will offer 7.14 common shares on the open equity markets in the near future.

ONEOK (NYSE: OKE) announced that it will increase its dividend from $0.56 per share to $0.61 per share.

Today's Movers include:

Net 1 UEPS Technologies (NASDAQ: UEPS) +32.7% after one of its subsidiaries secured a new contract

Clovis Oncology (NASDAQ: CLVS) +17% on low volume

Suntech Power Holdings (NYSE: STP) +14.6% on heavy volume

Sunoco (NYSE: SUN) -12.4% after spinning off division to SunCoke Energy

BancorpSouth (NYSE: BXS) -10.7% on poor poor Q4 earnings

Genon Energy (NYSE: GEN) -9.3% on intermittent volume

This concludes your news summary for January 18, 2012.

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


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