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US midday: Stocks rise on optimism towards Cyprus

International

US midday: Stocks rise on optimism towards Cyprus

Fri, 22 March 2013
US midday: Stocks rise on optimism towards Cyprus

- Fed plans to keep interest rates low for a considerable time
- Stocks rise on optimism towards Cyprus
- Tiffany&Co. and Micron rise following results

Dow Jones Industrials: 0.52%
Nasdaq Composite: 0.45%
S&P 500: 0.53%

The main US equity averages are now rising on hopes that a solution to the crisis in Cyprus will indeed be found and despite a weak reading on German business confidence this morning.

Acting as a backdrop, Federal Reserve Governor Sarah Raskin said the central bank plans to keep interest rates low for a considerable time. The policy-maker also highlighted the need to address the low wages from which many Americans are now suffering.

Out on the company front, shares of luxury jewellery retailer Tiffany&Co. have opened considerably higher following the announcement of a large increase in sales in the Asia Pacific region.

Chipmaker Micron is also moving higher after unveiling better than expected sales figures this afternoon for its second quarter.

Athletic footwear manufacturer Nike has today released better than expected quarterly figures together with strong orders data for Germany and China.

AK Steel is down after warning of a weak first quarter.

Marin Software is jumping by 37% on its stock market debut.

From a sector stand-point the best performance is now to be seen in the following industrial groups: Footwear (9.7%), Personal goods (2.62%) and Business training (1.74%).

10 year US Treasury yields are now down by 1 basis point, at 1.93%.

Front month West Texas crude futures are now rising by 0.63% to the $93.03/barrel level on the NYMEX.

S&P 500 - Risers
Nike Inc. (NKE) $59.93 +11.81%
Micron Technology Inc. (MU) $10.10 +11.30%
PepsiCo Inc (PEP) $78.58 +3.19%
Hewlett-Packard Co. (HPQ) $22.85 +2.37%
Marathon Petroleum Corporation (MPC) $91.15 +2.35%
Tiffany & Co. (TIF) $69.36 +2.14%
Gilead Sciences Inc. (GILD) $45.44 +2.02%
Cerner Corp. (CERN) $92.37 +1.99%
Limited Brands Inc. (LTD) $43.86 +1.98%
Family Dollar Stores Inc. (FDO) $61.02 +1.95%

S&P 500 - Fallers
Humana Inc. (HUM) $66.09 -3.31%
F5 Networks Inc. (FFIV) $86.78 -2.53%
Monster Beverage Corp (MNST) $49.16 -2.36%
Advanced Micro Devices Inc. (AMD) $2.58 -2.27%
Best Buy Co. Inc. (BBY) $22.03 -1.93%
Red Hat Inc. (RHT) $50.00 -1.85%
Cognizant Technology Solutions Corp. (CTSH) $74.78 -1.79%
Vulcan Materials Co. (VMC) $51.41 -1.61%
JDS Uniphase Corp. (JDSU) $13.49 -1.57%
EMC Corp. (EMC) $24.14 -1.49%

Dow Jones I.A - Risers
Hewlett-Packard Co. (HPQ) $22.85 +2.37%
American Express Co. (AXP) $66.29 +1.35%
United Technologies Corp. (UTX) $93.50 +1.16%
3M Co. (MMM) $106.10 +1.11%
Walt Disney Co. (DIS) $56.90 +1.05%
Wal-Mart Stores Inc. (WMT) $73.88 +1.03%
JP Morgan Chase & Co. (JPM) $48.84 +1.01%
McDonald's Corp. (MCD) $99.50 +0.98%
Pfizer Inc. (PFE) $28.36 +0.91%
Intel Corp. (INTC) $21.23 +0.90%

Dow Jones I.A - Fallers
Unitedhealth Group Inc. (UNH) $54.38 -1.24%
Coca-Cola Co. (KO) $40.06 -0.03%
Microsoft Corp. (MSFT) $28.11 -0.00%

Nasdaq 100 - Risers
Micron Technology Inc. (MU) $10.10 +11.30%
Mondelez International Inc. (MDLZ) $29.82 +4.41%
Vertex Pharmaceuticals Inc. (VRTX) $53.76 +2.92%
Verisk Analytics Inc. (VRSK) $61.33 +2.18%
Activision Blizzard Inc. (ATVI) $14.35 +2.10%
Gilead Sciences Inc. (GILD) $45.44 +2.02%
Cerner Corp. (CERN) $92.37 +1.99%
Sba Communications Corp. (SBAC) $72.49 +1.97%
Applied Materials Inc. (AMAT) $13.21 +1.95%
Ross Stores Inc. (ROST) $59.06 +1.72%

Nasdaq 100 - Fallers
F5 Networks Inc. (FFIV) $86.78 -2.53%
Monster Beverage Corp (MNST) $49.16 -2.36%
Cognizant Technology Solutions Corp. (CTSH) $74.78 -1.79%
Oracle Corp. (ORCL) $31.86 -1.36%
Citrix Systems Inc. (CTXS) $71.04 -1.34%
Nuance Communications Inc. (NUAN) $19.65 -1.03%
Check Point Software Technologies Ltd. (CHKP) $48.97 -0.97%
Express Scripts Holding Co (ESRX) $57.83 -0.87%
Garmin Ltd. (GRMN) $32.88 -0.81%
Altera Corp. (ALTR) $34.55 -0.74%

AB

FTSE 100 Top Risers

Name Last Chg.% Time
TUI Travel 391.00 1.88 17:06
Admiral Group 1,250.00 1.30 17:02
Petrofac Ltd. 1,058.00 0.95 17:06
Wolseley 3,343.00 0.84 17:06
BAE Systems 475.10 0.72 17:00

FTSE 100 Top Fallers

Name Last Chg.% Time
Tesco 203.00 -11.59 17:06
Glencore 341.15 -4.88 17:06
Rio Tinto 3,058.50 -3.79 17:06
BHP Billiton 1,730.50 -3.51 17:06
Aberdeen Asset Management 417.10 -3.16 17:12