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Strategies & Market Trends : Guidance II -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (1816)

10/25/2013 7:41:29 PM

From: 2MAR$

Respond to of 2077

On The Fly: Closing Wrap

Stocks on Wall Street were higher, but closed off their best levels, after a session that saw the Nasdaq rally early following strong earnings reports from Amazon (AMZN) and Microsoft (MSFT), though the averages later consolidated their gains to trade in a narrow range for much of the session and close with modest gains. ECONOMIC EVENTS: In the U.S., durable goods orders climbed 3.7% in September, stronger than the expected 2.5% increase. Durable goods orders excluding transportation orders were down 0.1%, versus expectations for them to be up 0.5% in the month. The final University of Michigan consumer confidence reading for October was 73.2, versus an expected 75.0 reading. Wholesale trade inventories grew 0.5% in August, versus expectations for a rise of 0.4% for the month.

COMPANY NEWS: Amazon gained $31.18, or 9.39%, to $363.39 after the company reported third quarter losses that were in-line with forecasts and revenue that beat analysts' consensus expectation. Following its report at least eight firms raised their price targets on Amazon's shares and Raymond James upgraded the stock to Strong Buy... Microsoft reported earnings beat expectations on both the top and the bottom line, and the PC giant saw its shares gain $2.01, or 5.96%, to $35.73.

MAJOR MOVERS: Among the notable gainers was Career Education (CECO), up $2.18, or 57.37%, to $5.98 after last night announcing a deal to sell its European education properties for $305M. Also higher was mobile game maker Zynga (ZNGA), up 18c, or 5.52%, to $3.73 after reporting a narrower-than-expected third quarter loss. Among the noteworthy losers were U.S.-listed shares of NQ Mobile (NQ), down $1.46, or 12.08%, to $10.63 after the shares, which were halted for much of the session, re-opened for trade following a conference call held by management to address a negative research report released yesterday by noted short seller Muddy Waters. Shares of NQ Mobile fell $12.48, or 54.55% yesterday before being halted for the session. Also lower was Eastman Chemical (EMN), down $4.24, or 5.16%, to $77.94 after cutting its FY13 EPS outlook and being downgraded to Neutral from Conviction Buy at Goldman.

INDEXES: The Dow was up 61.07, or 0.39%, to 15,570.28; the S&P 500 was up 7.70, or 0.44%, to 1,759.77; the Nasdaq was up 14.40, or 0.37%, to 3,943.36.