Market Wrap: Berlusconi's Confident; EU Could Boost Bailout; priceline Shares Rise Despite Outlook; More Tablets Ahead of Holidays

Market wrap-up for November 7th

End of the Day: Dow Jones up 85 to 12,068.39; Nasdaq up 9 to 2,695.25; S&P 500 up 7.89 to 1,261.12

The following is a brief summary of events moving markets today:

• I'm not going anywhere: Italy's Prime Minister Silvio Berlusconi is up for another confidence vote, and rumors have been circulating that he might resign. Berlusconi has denied those rumors.
  
  Also in Europe, Greece's Prime Minister George Papandreou said he would resign, paving the way for a new government. No successor has been chosen yet, and the move by Papandreou comes just days after winning a Greek confidence vote.
  
  
• Boosting bailouts: the EU said it is currently in talks with investors and credit-rating agencies over potentially two options to boost the rescue fund from €440 billion to possibly €1 trillion. The plan, expected to be announced next month, comes as Greece is expected to submit a letter of acceptance for $11 billion of bailout funds, and Italy should show progress on budget cuts.
  
  
• Cautious outlook spooks investors... initially: Priceline.com (Nasdaq: PCLN) issued a third-quarter beat, but its fourth-quarter earnings outlook -- calling for a range of $4.90 to $5.00 per share -- fell below estimates of $5.14 per share. After an initial drop, priceline.com shares moved back into positive territory on conference call comments the new guidance includes a slowdown related to the Thai floods.
  
  
• Speaking of spooking investors: Dynegy Inc. (NYSE: DYN) initially sank on reports the company's holding unit may seek to file for Chapter 11 bankruptcy protection as soon as Monday night.
  
  Sources stated Dynegy remains in settlement talks with bondholders for a pre-negotiated reorganization. Dynegy has not commented on the story heading into Monday evening.
  
  
• Amazon sees competitor enter tablet arena: Barnes & Noble (NYSE: BKS) debuted it's new NOOK tablet, which it says is the "best in HD entertainment." Priced at $249, the device will compete wholly with Amazon's (Nasdaq: AMZN) Kindle Fire, which was introduced in October. The two share similar dimensions -- 7-inch color screen, dual-core processors, WiFi -- and are built more for media than crunching numbers or running complex programs.
  
  
• Manufacturers need suppliers, right?: Auto supplier Delphi Automotive PLC (NYSE: DLPH) filed an amended registration with the U.S. Securities and Exchange Commission for an Initial Public Offering of its Common Stock. Delphi plans to sell 24,078,827 shares and sees an offering price of $22 to $24 per share. Delphi plans to list on the NYSE under the ticker "DLPH."
  
  

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