Wednesday, March 13, 2013 – Here is today’s summary of U.S. stock market activities – Major Headlines, Biggest Stock Losers, Highest Stock Gainers, Top Advancers & Decliners.
Stock Market Headlines
The Dow (DJIA) continued its recent trend of breaching new highs and breaking new records. Today the index logged its 9th consecutive back-to-back winning record since 1996. Both the Nasdaq and S&P also ended the day higher as they inched closer to their highest levels ever. The Nasdaq was up 2.80 points to 3245.12, while the S&P 500 rose 2.04 points to end the day at 1554.52.
On the NYSE, advancing stocks (1,705) outpaced declining stocks (1,291), while the Nasdaq had 1,372 advancing stocks versus 1,063 decliners.
- Silver Spring Networks (SSNI) was the highest gainer across the NYSE and Nasdaq, surging 29.41% to end the day at $22. The firm went public today at an IPO price of $17 a share.
- Engility Holdings stock was the next highest gainer. The stock surged today after the firm reported Q4 2012 earnings which came in higher than expected. Q4 revenue was $396 million which beat Wall Street analysts’ estimates.
- Shares of National Financial Partners stock were the third highest gainers, rising 10.37% to end the day at $22.13 after the firm announced that it was looking to sell itself.
- Shares of Spectrum Pharmaceuticals stock plunged -37.33% after the company announced a lower than previously estimated 2013 forecast.
- Velti Plc was the next biggest stock loser across the NYSE and Nasdaq. The stock declined -22.83% to close the day at $2.4. “Velti shares tumbled to the lowest level in more than three years on Wednesday, as the mobile marketing company offered disappointing revenue forecasts for the first quarter and full year along with fourth-quarter results that were below analysts' estimates”.
- MEMC Electronic Materials was next in line with its stock dropping -13.44% to be the third top loser across the Nasdaq and NYSE. As reported by Investors.com, “Shares of MEMC Electronic were down as the solar industry company said the first half of 2013 will be "slower" for semiconductor sales and that its solar sales will drop from a year ago”.