Mid-Afternoon Market Update: Markets Remain Up, Synchronoss Rises on Earnings
Toward the end of trading Friday, the Dow traded up 0.23 percent to 13,976.18 while the NASDAQ rose 0.88 percent to 3,192.18. The S&P also rose, increasing 0.46 percent to 1,516.25.
LinkedIn (NASDAQ: LNKD) absolutely crushed on its earnings report after the close Thursday, sending shares up over 21 percent, breaking all time highs and sending trader sentiment through the roof.
Equities Trading UP
Activision Blizzard (NASDAQ: ATVI) shot up 7.71 percent to $ 12.99 following a big earnings beat on top and bottom lines and some solid guidance after the close on Thursday.
Shares of Caesars Entertainment (NASDAQ: CZR) went through the roof in early trading, rocketing upwards 31.88 percent to $ 13.28 after NJ Governor Chris Christie came out supporting of online gambling.
Synchronoss Technologies (NASDAQ: SNCR) was also up, gaining 19.63 percent to $ 29.37 to after the company posted an earnings beat on the top and bottom lines Thursday.
Equities Trading DOWN
Nuance Communications (NASDAQ: NUAN) dropped 17.98 percent to $ 20.14 after the company missed on earnings this morning and drastically lowered its guidance.
Riverbed Technology (NASDAQ: RVBD) was also down, falling 17.86 percent to $ 16.51 after the company reported EPS in line and beat on earnings, but received a slew of downgrades as analysts were disappointed with the revenue figure.
Shares of Just Energy (NYSE: JE) took a hit as well, dropping 14.26 percent to $ 8.42 after the company adopted a new shareholder rights protection plan on Thursday.
In commodity news, oil traded down 0.14 percent to $ 95.70, while gold traded down 0.16 percent to $ 1,668.40.
Silver traded up 0.06 percent Friday to $ 31.46.
In the Eurozone this morning markets were up across the board on positive sentiment from China and relaxed concerns about the strength of the Euro. Leading the rise was the Italian MIB Index, which was up 0.39 percent and U.K shares which rose 0.33 percent.
In economic news trade balance came in at -38.50 billion, crushing the estimates of -46.0 billion and the prior report of -48.6 billion.
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