Post Market News

Post Market news

Stocks that were active in U.S. trading on Friday include Oracle Corp. (NASDAQ:ORCL), Ebix Inc. (NASDAQ:EBIX), Idenix Pharmaceuticals Inc. (NASDAQ:IDIX), Spreadtrum Communications Inc. (NASDAQ:SPRD) and PharMerica Corp. (NYSE:PMC).

Market Levels

  • U.S.: Dow Jones: 14,839.49 (+0.55%), S&P 500: 1,594.13 (+0.37%), Nasdaq: 3,357.91 (-0.20%)
  • World Markets: Shanghai: 2,073.10 (-0.52%), Nikkei 225: 13,230.13 (+1.66%), Hang Seng Index: 20,263.31 (-0.59%), TSEC: 7,793.31 (-1.34%), FTSE 100: 6,116.17 (-0.70%), EURO STOXX 50: 2,549.48 (-1.43%), BSE Sensex: 18,774.24 (0.00%)
  • Metals: Gold: $1,292.00 (+0.45%), Silver: $19.96 (+0.69%), Platinum: $1,369.50 (+0.42%)
  • Currency: EUR/USD: 1.3140 (-0.42%), USD/JPY: 97.78 (+0.56%), GBP/USD: 1.5427 (-0.33%), USD/CAD: 1.0457 (+0.62%), USD/CNY: 6.1334 (+0.08%), AUD/USD: 0.9247 (+0.77%)
  • 10 year U.S. Treasury: 2.50% (+0.09), 30 year U.S. Treasury: 3.56% (+0.07)

Market & Economy Update

Stock markets gyrated on Friday between gains and losses after two days of steep decline as investors changed their positions according to the Federal Reserve’s comments. Treasury yields rose to near two year highs. The Dow Jones Industrial Average rose 81.17 points to 14,839.49, the S&P 500 Index jumped 3.71 points to 1,591.90, while Nasdaq fell 9 points to 3,355.61.

Stocks In Focus

Oracle Corporation (NASDAQ:ORCL)

Oracle Corporation (NASDAQ:ORCL) announced another disappointing quarterly result. Oracle’s fourth quarter revenues were almost flat as its new computer business, which continues to decline. The software maker reported a revenue of $11 billion with $0.87 per share in earnings. Though net income rose 10 percent, adjusted earnings fell short of Wall Street expectations. Oracle shares plunged 9.305 to $30.13.


Ebix Inc (NASDAQ:EBIX) shares continued to decline for the second consecutive day after the financial software maker said that an affiliate of Goldman Sachs has terminated its plans to merge with Ebix. Regulators are investigating into the banking and insurance software maker for an international misconduct. Shares skidded 13.45 percent to $9.52, even though the company announced a $100 million share buyback program today.

Idenix Pharmaceuticals Inc. (NASDAQ:IDIX)

The Cambridge, MA-based biopharmaceutical company said that it has put a planned clinical trial for a hepatitis C drug on hold after the USFDA requested further safety data on the drug. Analysts say it is by far Idenix Pharmaceuticals Inc. (NASDAQ:IDIX)’s most promising compound. Shares plummeted 30.70 percent to end the session at $3.56.

Spreadtrum Communications Inc. (NASDAQ:SPRD)

The Chinese semiconductor company has received a $1.31 billion acquisition offer from a state-owned Chinese company Tsinghua Unigroup Ltd. Unigroup has offered to pay $28.50 per American share of the company, a 28 percent premium to its closing price on Thursday. Shares soared 16.24 percent to $25.91.

PharMerica Corp. (NYSE:PMC)

PharMerica said in a regulatory filing that Kindred Healthcare has denied to renew its contract for nursing pharmacy services after the present contract expires on December 31. Under a separate contract, PharMerica also provides hospital pharmacy management services to all Kindred hospitals. Shares plunged 16.70 percent to end the session at $13.18.