Friday, February 08, 2013 – Here is today’s summary of U.S. stock market activities – Major Headlines, Biggest Losers, Biggest Gainers, Top Advances & Declines.
Stock Market Headlines
Stocks finished the day at multi-year highs, with the Nasdaq ending at its highest level since 2001. The S&P closed at 1517.22, a five year high and the Dow (DJIA) ended a few points from the psychologically-significant 14,000 level.
Today’s rally was mostly due to encouraging global economic news. China reported higher than expected exports and strong signs of economic rebound. Germany announced a 2012 fiscal surplus that handily beat economists’ expectations.
Advancing stocks (1,994) outpaced decliners (956) on the NYSE by nearly 2 to 1 and on the Nasdaq by almost 5 to 3.
Caesars Entertainment Corp’s stock (CZR) was the highest gainer across the Nasdaq and NYSE today. The firm’s stock surged 38.13% as the company reported a 13% increase in gambling revenue. An announcement by New Jersey Governor Chris Christie also helped the stock’s performance. Christie reported that New Jersey will be “willing to allow a 10-year trial period of online gambling in Atlantic City”. CZR operates casinos in both New Jersey and Nevada.
Shares of LinkedIn (LNKD) were the next biggest gainer, soaring to a record price of $150.48. LNKD reported better than expected earnings that blew past Wall Street estimates.
Misonix Inc.’s stock, MSON, dropped -20.08% today, making it the biggest loser across the NYSE and Nasdaq. At the end of trading yesterday, the firm reported “First Half of Fiscal 2013” financial results that missed Wall Street analysts’ expectations. Revenue for the six-month period increased 19% to $8.0 million, but the firm reported a net loss (revenue – expenses) of $609,000.
- Guidance Software (GUID)’s stock was the next biggest loser, declining -19.48% to close the day at $9.59. The firm reported better than expected earnings. However, the stock fell based on the company’s full year revenue guidance that disappointed investors.