Trading on today’s market was mixed, with the S&P 500 losing 0.19% to finish at 1,692.39, the Nasdaq losing 0.59% to finish at 3,579.27, while the Dow Jones gained 0.14% to finish the day at 15,567.74. The major movers on today’s market were propelled by earnings announcements, though some of the big movers jumped on M&A activity.
Some Dow components released earnings figures that impressed investors before the market opened this morning, while the impressive Nasdaq reports didn’t come until after the market closed.
Blue Mountain Credit Fund still in the red YTD; here are their biggest holdings
Blue Mountain Credit Alternatives Fund was up 0.36% for November, although the fund remains well into the red for the year. For the first 11 months, the fund was down 24.85% gross. Q3 2020 hedge fund letters, conferences and more Blue Mountain's fundamental credit strategy was up 0.63% for November, including a 1.09% gain for Read More
Apple Inc. (NASDAQ:AAPL) released its earnings report after the market closed this afternoon. In the run up to the release of the numbers, the company’s shares lost 1.72%. After the company announced its numbers, however, shares shot up by more than 5% in after market trading.
Apple Inc. (NASDAQ:AAPL) showed earnings of $7.47 per share for the quarter ending June 2013 on revenue totaling $35.3 billion. The real impetus for the increase in the company’s stock price was, however, the number of iPhones that Apple Inc. (NASDAQ:AAPL) sold in the three months. The company revealed it shipped 31.2 million iPhones in the quarter, a phenomenal number and many degrees higher than the 26 million the company shipped in the same quarter of 2012.
Sourcefire, Inc. (NASDAQ:FIRE) shares jumped by more than 27% on today’s market after it was announced that Cisco Systems Inc had agreed to buy the $2 billion company. Sourcefire, Inc. (NASDAQ:FIRE) is a cybersecurity company that specializes in enterprise and government cybersecurity solutions.
Cisco is said to have made the acquisition in order to improve its cybersecurity offerings, after a period of losing to smaller companies on contracts. The company will try to build a strong flexible suite of cybersecurity tools in order to take advantage of what is likely a growth area in the next decade.