Mixed Markets Over Economic Data


The markets traded mixed during the midday with the Dow gaining 75 points to 16,348 as a weaker than expected 2.4% growth in the nation's economy tempered investor enthusiasm for a stronger than expected gain in consumer sentiment. Nasdaq slipped 10 points to 4308. 

On the upside 

Shares of Varonis Systems (Nasdaq: VRNS) surged in its market debut.

A Seeking Alpha contributor suggested that Perfect World (Nasdaq: PWRD) would thrive if it went private.

58.com (NYSE: WUBA) swung to a profit for the fourth quarter as revenue surged to beat expectations.

On the downside

The collaboration between Intermolecular (Nasdaq: IMI) and SanDisk (Nasdaq: SNDK) and Toshiba ended. 

Medivation (Nasdaq: MDVN) swung to an unexpected profit for the fourth quarter but the biopharmaceutical forecast 2014 revenue well below expectations prompting a downgrade.

KBR (NYSE: KBR) reported lower fourth quarter earnings and revenue that fell short of estimates and the engineering company forecast 2014 earnings that missed analyst expectations.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by nearly 9 to 7 on Nasdaq. The broader S&P 500 rose 6 points to 1860. Bitcoin slipped $14.11 or 2.44% to $563.24.

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This page contains a single entry by published on February 28, 2014 11:47 AM.

Consumer Sentiment Rises, Markets Open Higher was the previous entry in this blog.

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