Market Overview

Benzinga Mid-Day Market Update

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Midway through the trading day Tuesday, the Dow was down about 0.03 percent, or roughly 4.74 points. The NASDAQ fell about 0.17 percent, or 5.27 points, while the S&P traded down 0.23 percent, dropping 3.35 points.

Shares of Velti (NASDAQ: VELT) consolidated their gain midway through Tuesday, rising 12.33 percent to $9.66 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 8.95 percent around $74.00.

Research in Motion (NASDAQ: RIMM) climbed mid way through the day Tuesday following news that it would be licensing Microsoft's (NYSE: MSFT) file management system for its Blackberry 10 operating system. Shares of RIM traded up about 2 percent near $7.40.

In aftermarket trading yesterday, Apple (NASDAQ: AAPL) crossed the $700 mark for the first time in its history, and traded down slightly around $698.54 midway through 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 2.16 percent around $87.35.

Shares of Advanced Micro Devices (NASDAQ: AMD) continued their tumble tuesday, falling 8.23 percent and trading near $3.68 following the resignation of its CFO.

HNI (NYSE: HNI) also continued to fall, trading down 15.12 percent around $26.05 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 Contracts Management Econ #s Economics Hot

 

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