Mid-Afternoon Market Update: Markets Recover Slighty, Oil Continues to Fall

Loading...
Loading...
Toward the end of trading Wednesday, the Dow traded down 1.88 percent to 12,996.60 while the NASDAQ fell 2.06 percent to 2,949.81. The S&P also fell, decreasing 1.87 percent to 1,401.68.
Top Headline
Early Wednesday morning, President Barack Obama was declared the early winner of the 2012 presidential election as he was voted in for a second term. Coal stocks are expected to take a hit from the President's re-election, while Gold and renewable energy stocks are expected to get a boost.
Equities Trading UP
VirmetX
VHC
regained its rallying energy, rising up 25.14 percent to $32.90 towards the market close after its patent suit victory against Apple
AAPL
Wednesday morning. Procera Networks
PKT
rose 14.54 percent to $23.24 after a significant earnings beat Wednesday morning. Shares of Tangoe
TNGO
were also on the rise, gaining 14.29 percent to $14.72 after posting guidance roughly in line with estimates after the close Tuesday.
Equities Trading DOWN
James River Coal
JRCC
continued its fall, dropping 27.64 percent to $3.40 following the president's re-election this morning. Shares of Plexus
Loading...
Loading...
PLXS
were also down, falling 27.43 percent to $20.29 after the company announced it would no longer be a supplier to Juniper Networks Tuesday. Scientific Games
SGMS
dropped as well, declining 15.88 percent to $6.99 following an earnings miss Tuesday.
Commodities
In commodity news, oil traded down 4.72 percent to $84.51, while gold traded up 0.27 percent to $1,723.90. Silver traded down 0.16 percent Wednesday to $31.87.
Eurozone
European markets were largely down Wednesday morning following the US presidential election. Traders may also have been wary of the coming Greek Austerity vote, the results of which are expected after the European close today. In other news, the ECB President Mario Draghi came out with some comments this morning, saying that the euro crisis was impacting the German economy, while Olli Rehn stated that the economic recovery should strengthen in 2013.
Economics
There are no major economic releases scheduled for Wednesday.
Loading...
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceCommoditiesContractsEventsGlobalEcon #sEconomicsHotIntraday UpdateMarketsAnalyst RatingsMoversTrading Ideas
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...