Market Wrap: Herbalife's Strife; GDP Keeps Growing; An ICE-y Acquisition; Fresh Fees for Facebook?
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Market wrap-up for December 20th
End of the Day: S&P 500 up 7.9 to 1,443.69; Dow Jones up 59.8 to 13,311.72; Nasdaq up 6.0 to 3,050.39
The following is a brief summary of events moving markets today:
* Research In Motion (Nasdaq: RIMM) made some investors holiday a little cheerier (sp?). Revs fell to $2.7 billion ,but topped expectations. RIM also edged out loss views with a report of 22 cents per share. For more color, click here.
* U.S. gross domestic product (GDP) grew more than previously expected, according to latest data out of the Bureau of Economic Analysis today.
GDP grew 3.1 percent from the second to third quarter, up from prior estimates and the current consensus of 2.7 percent growth.
For more on the numbers, click here.
* IntercontinentalExchange (NYSE: ICE) confirmed a deal to acquire NYSE Euronext (NYSE: NYX) for $33.12 per share in cash and stock, or a total of approximately $8.2 billion. News that the two might get together broke late Wednesday night, though nothing official was confirmed until this morning.
* Herbalife (NYSE: HLF) continued to get pounded Thursday as Pershing Square's Bill Ackman disclosed being short the stock. Ackman said he was so convicted, that he'll give all proceeds to charity. For more on the saga, click here.
Herbalife CEO Michael Johnson also responded to Ackman, saying he was trying to manipulate the markets.
* Facebook (Nasdaq: FB) is testing a service which will charge people to send a message. The $1 fee will be implemented whether or not you're "economically relevant" to the party you intend to contact...say you met a person at a group gathering and they didn't friend you that night. It will keep messages focused, Facebook claims. For more color on the subject, click here.
* In late trading, Standard & Poor's announced that AbbVie (ABBV) will replace Dell Inc. (Nasdaq: DELL) in the S&P 100, and Federated Investors Inc. (NYSE: FII) in the S&P 500. In addition, Procera Networks, Inc. (Nasdaq: PKT) will replace Presidential Life Corp. (Nasdaq: PLFE) in the S&P SmallCap 600. For more on the shift, click here.
* Rite Aid (NYSE: RAD) had some robust earnings numbers today, swinging to profit of seven cents per share amid lighter than expected revs. The retail pharmacy giant also issued an improved outlook for FY13. For a quick recap, click here.
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End of the Day: S&P 500 up 7.9 to 1,443.69; Dow Jones up 59.8 to 13,311.72; Nasdaq up 6.0 to 3,050.39
The following is a brief summary of events moving markets today:
* Research In Motion (Nasdaq: RIMM) made some investors holiday a little cheerier (sp?). Revs fell to $2.7 billion ,but topped expectations. RIM also edged out loss views with a report of 22 cents per share. For more color, click here.
* U.S. gross domestic product (GDP) grew more than previously expected, according to latest data out of the Bureau of Economic Analysis today.
GDP grew 3.1 percent from the second to third quarter, up from prior estimates and the current consensus of 2.7 percent growth.
For more on the numbers, click here.
* IntercontinentalExchange (NYSE: ICE) confirmed a deal to acquire NYSE Euronext (NYSE: NYX) for $33.12 per share in cash and stock, or a total of approximately $8.2 billion. News that the two might get together broke late Wednesday night, though nothing official was confirmed until this morning.
* Herbalife (NYSE: HLF) continued to get pounded Thursday as Pershing Square's Bill Ackman disclosed being short the stock. Ackman said he was so convicted, that he'll give all proceeds to charity. For more on the saga, click here.
Herbalife CEO Michael Johnson also responded to Ackman, saying he was trying to manipulate the markets.
* Facebook (Nasdaq: FB) is testing a service which will charge people to send a message. The $1 fee will be implemented whether or not you're "economically relevant" to the party you intend to contact...say you met a person at a group gathering and they didn't friend you that night. It will keep messages focused, Facebook claims. For more color on the subject, click here.
* In late trading, Standard & Poor's announced that AbbVie (ABBV) will replace Dell Inc. (Nasdaq: DELL) in the S&P 100, and Federated Investors Inc. (NYSE: FII) in the S&P 500. In addition, Procera Networks, Inc. (Nasdaq: PKT) will replace Presidential Life Corp. (Nasdaq: PLFE) in the S&P SmallCap 600. For more on the shift, click here.
* Rite Aid (NYSE: RAD) had some robust earnings numbers today, swinging to profit of seven cents per share amid lighter than expected revs. The retail pharmacy giant also issued an improved outlook for FY13. For a quick recap, click here.
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