Mid-Morning Market Update: Akami Rallies, Lululemon Shows Volatility

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Following the market opening Thursday, the Dow traded up 0.03 percent to 13,038.87 while the NASDAQ rose 0.37 percent to 2,984.75. The S&P also rose, increasing 0.09 percent to 1,410.48.
Top Headline
Lululemon
LULU
released its third-quarter earnings report this morning, and the results looked good. Despite this, the company posted downbeat fourth-quarter guidance leading traders to drop the stock in early trading. Following this, shares saw an almost 6 percent jump, and have fallen since then.
Equities Trading UP
Epoch Investment Partners
EPHC
gained 26.70 percent to $27.76 following the announcement of its merger with TD Bank Group. Shares of Akami Technologies
AKAM
were up as well, gaining 10.34 percent to $39.17 after the company announced a strategic alliance with AT&T. Zynga
ZNGA
also saw a gain, rising 6.44 percent to $2.47 after the company applied for a Nevada gaming license.
Equities Trading DOWN
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Vera Bradley
VRA
fell 10.87 percent to $23.36 after the company's earnings report post market on Wednesday. Align Technology
ALGN
was also down, falling 7.92 percent to $24.07 after the company issued a low fourth-quarter outlook and announced it would be cutting jobs. Shares of Men's Wearhouse
MW
traded down 3.41 percent to $30.28 after lowering its fiscal year guidance following the market close Wednesday.
Commodities
In commodity news, oil traded down 1.21 percent to $86.82, while gold traded down 0.30 percent to $1,687.30. Silver traded up 0.21 percent Thursday to $33.10.
Eurozone
In European headlines this morning, the ECB predicted a bleak 2013 after it decided to leave rates unchanged. European markets responded well to the decision despite its implication that the EU had officially fallen into recession, and rose across the board.
Economics
In economic news Thursday morning, Initial jobless claims were reported at 370 thousand, below the predicted 380 thousand, but below the prior report of 395 thousand. Continuing claims were also reported, coming in at 3.205 million, lower than the expected 3.275 million and the previous figure of 3.305 million. Challenger job cuts were reported as well, coming in at 34.4 percent, far above the prior report of 11.60 percent.
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