News Headline Summary

US EQUITY WRAP

US equities finished mixed as the DJIA outperformed its peers led higher by Hewlett Packard following chatter that Carl Icahn had taken a stake in the Co. US equities traded at their worst levels for most of the session, as the S&P 500 snapped its five day gain streak. Disappointing GDP figures weighed on sentiment with the Q/Q reading coming at 2.5% vs. Exp. 3.0%. A round of weak earnings also added to the weakness as Amazon, the world’s largest online retailer said it may post an operating loss in the second quarter. Further poor earnings from Expedia & Baidu weighed on the NASDAQ 100. So far, 74% of Co.’s in the S&P 500 that have reported earnings have exceeded analyst expectations. JC Penney finished as the best performing stock following talk that George Soros had a 7.91% passive stake in the Co. Finally, the DJIA finished up 0.09% at 14713.85, the S&P 500 finished down 0.18 at 1582.29 and the NASDAQ 100 finished down 0.28% at 2840.55.

26 Apr 2013 - 15:03 - - Source: RANsquawk

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