Market Overview

Benzinga Mid-Morning Market Update


Following the market open Wednesday, the Dow traded down 0.30 percent to 13,433.46 while the NASDAQ dipped 0.04 percent to 3,063.66. The S&P also decreased 0.14 percent to 1,439.50.

Equities Trading UP True Religion Apparel (NASDAQ: TRLG) rocketed up 23.08 percent to $25.86 Wednesday when the company announced it would look into strategic alternatives, including selling the company.

AuRico Gold (NYSE: AUQ) rose 17.13 percent to $7.52 in early trading after it announced the sale of its Mexican assets.

Yum! Brands (NYSE: YUM) also got a boost, rising 8.08 percent to $71.01 after the company provided positive guidance in its analyst conference call and an earnings beat after the close Tuesday.

Equities Trading DOWN Avnet (NYSE: AVT) fell 5.88 percent in early trading to $26.89 after the company lowered its guidance.

H&R Block (NYSE: HRB) also fell, trading down 4.48 percent to $16.83 after it hired Goldman Sachs (NYSE: GS) as an advisor to decide what to do with its bank.

Shares of Darling International (NYSE: DAR) were also down, falling 5.36 percent to $16.61 following a downgrade at BMO Capital Markets.

Commodities In commodity news, Oil traded down 0.08 percent to $92.32, while Gold traded down 0.11 percent to $1,763.00.

Silver traded up 0.06 percent Wednesday Morning to $34.05.

Euro Zone There have been periodic comments this morning out of the EU stating various country's commitment to holding the zone together. Spain's Rajoy commented that a Greek exit from the zone would show a failure on the part of the Euro.

Economics In economic news, MBA mortgage applications came in at -1.2 percent, far below the previous figure of 16.6 percent. Wholesale inventories were also reported, coming in at 0.5 percent, slightly lower than the expected 0.6 percent, and below the prior figure of 0.7 percent.

Posted-In: News Guidance Commodities Events Global Econ #s Economics Hot


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