Market Overview

Benzinga Mid-Morning Market Update


Following the market opening Tuesday morning, the Dow was down about 0.22 percent, or roughly 29.42 points. The NASDAQ fell about 0.25 percent, or 7.86 points, while the S&P traded down 0.34 percent, decreasing 5.03 points.

Shares of Velti (NASDAQ: VELT) soared in early trading Tuesday, jumping 15.12 percent to $9.90 following the announcement that it had closed a $27 million deal.

Energizer (NYSE: ENR) also got a boost Tuesday after announcing that its cost cutting campaign had saved it between $175 and $200 million dollars. Shares traded up 9.14 percent around $74.13.

In aftermarket trading yesterday, Apple (NASDAQ: AAPL) crossed the $700 mark for the first time in its history, and opened just under that mark Tuesday.

Fedex (NYSE: FDX) reported an earnings beat Tuesday morning with its EPS coming in at $1.45, above the estimated $1.41, while revenue came in at $10.79 billion, higher than the expected $10.70B. The company guided its second-quarter EPS at $1.30-$1.45, lower than the estimated $1.67, citing a weakening economy. Shares of Fedex traded down 2.07 percent around $87.43.

Shares of Advanced Micro Devices (NASDAQ: AMD) took a hit Tuesday morning, falling 6.73 percent and trading near $3.74 following the resignation of its CFO.

HNI (NYSE: HNI) also fell, trading down 12.02 percent around $27.00 after significantly lowering its earnings guidance.

In economic reports, Net long-term TIC flows came in at $67 billion, much greater than the expected $27 billion, and far higher than the previous $9.3 billion. Total net TIC flows came in at $73.7B, quite an increase over the prior figure of $15.1 billion.

Redbook US retail sales were also reported today, and increased 2.5 percent for the first three weeks of September when compared to last year.

Posted-In: Earnings News Guidance Retail Sales Management Events Econ #s Economics


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