Market Overview

Benzinga Mid-Morning Market Update


Following the market open Wednesday morning, the Dow was up about 0.01 percent, roughly 1.93 points. The NASDAQ fell about 0.14 percent, or 4.57 points, while the S&P traded down 0.05 percent, decreasing 0.80 points.

Shares of Corning (NYSE: GLW) rose 3.50 percent to $13.18 in early trading following an upgrade at Goldman Sachs.

Nike (NYSE: NKE) also rose this morning, up 2.32 percent to $99.74.

Shares of Norfolk Southern (NYSE: NSC) took a hit, down 2.52 percent to $72.07 following a UBS downgrade.

Hasbro (NASDAQ: HAS) also fell, down 1.59 percent to $38.06 following a downgrade at Needham & Co.

Groupon (NASDAQ: GRPN) announced that it would be entering the mobile payments space with an app similar to square. Shares of Groupon surged following the announcement, up 8.74 percent, trading around $5.10.

In early trading this morning, Apple (NASDAQ: AAPL) hit a new all-time high as shares reached $702.85 following its successful release of the iPhone 5.

In economic reports, MBA Mortgage Applications came in at -0.2 percent, well below the prior figure of 11.1 percent. The Housing Starts number came in at 750K, higher than the revised estimate of 733K, and an increase over the previous figure of 746K. Building Permits came in at 803K, below the estimated 811K and the previous figure of 812K.

Posted-In: News Upgrades Downgrades Econ #s Economics Hot Analyst Ratings Movers


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