Korea Threatens, Stocks Mixed, Take Over Rumors
A strong start to trading was quickly quashed by international tensions of the war variety. North Korea threatened its neighbor South Korea with military action sending stocks skidding lower in response. A series of corporate upgrades combined with take over rumors from RadioShack pushed stocks higher in the early session. However, as usual lately, the international situation triggered nervous investor to dump their shares prior to the weekend. The market ended the day mixed with the DJIA up +9.15 to 10850.36, the Nasdaq fell -2.28 to 2395.13 and the broad based S&P 500 climbed +0.86 to 1166.59.
^RSH^: Shares climbed 8.49% or $1.85 to $23.65 on rumors that it will put itself up for sale for $3 billion.
^AAPL^: Credit Suisse upped its share price estimate to $300.00 sending shares higher by 1.88% or $4.25 to $230.90.
^PALM^: Shares advanced 4.92% or 18 cents to $3.89 on a BMO Capital Markets upgrade to market perform.
^APP^: The stock fell 17.45% or 67 cents to $3.17 after it stated it expects a decline in sales.
Oil gave back 37 cents to $80.16, gold climbed $9.80 to $1104.00 and the VIX index gave back 3.42% to 17.77.
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