Market Overview

Mid-Day Market Update: Renren Tumbles After Q3 Results; eBay Shares Gain

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Mid-Day Market Update: Renren Tumbles After Q3 Results; eBay Shares Gain

Midway through trading Friday, the Dow traded up 0.37 percent to 16,156.70 while the NASDAQ surged 0.52 percent to 4,065.70. The S&P also rose, gaining 0.31 percent to 1,812.82.

Top Headline
Wal-Mart Stores (NYSE: WMT) reported record-breaking Thanksgiving Day results.
The company processed more than 10 million register transactions in its stores between 6 p.m. and 10 p.m. on Thanksgiving Day. Walmart also recorded nearly 400 million page views on its website.
Wal-Mart sold 2.8 million towels, 1.9 million dolls, 1.4 million tablets, 2 million televisions and 300,000 bicycles that day.

Equities Trading UP
Rio Tinto plc (NYSE: RIO) shot up 4.95 percent to $53.46 after the company announced its plans to suspend alumina production at Gove alumina refinery.

Shares of Telecom Italia SpA (NYSE: TI) got a boost, shooting up 5.68 percent to $9.68 after HSBC upgraded the stock from Neutral to Overweight.

eBay (NASDAQ: EBAY) was also up, gaining 2.60 percent to $50.58 ahead of Cyber Monday.

Equities Trading DOWN
Shares of Fortinet (NASDAQ: FTNT) were down 12.88 percent to $17.11 after the company appointed Nancy Bush as interim CFO.

Renren (NYSE: RENN) shares tumbled 11.19 percent to $2.98 after the company reported downbeat Q3 revenue and issued a weak Q4 revenue forecast. Jefferies downgraded the stock from Hold to Underperform.
Organovo Holdings (NYSE: ONVO) was down, falling 5.51 percent to $8.67 after announcing it may sell up to 4 million shares through an equity distribution agreement via JMP Securities.

Commodities
In commodity news, oil traded up 1.53 percent to $93.71, while gold traded up 1.30 percent to $1,254.00.
Silver traded up 2.10 percent Friday to $20.10, while copper rose 1.02 percent to $3.22.

Eurozone
European shares were mostly higher today. The Spanish Ibex Index rose 0.04 percent, while Italy’s FTSE MIB Index declined 0.08 percent. Meanwhile, the German DAX surged 0.29 percent and the French CAC 40 fell 0.05 percent while U.K. shares rose 0.14 percent.

Posted-In: News Global Econ #s Intraday Update Markets Movers

 

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