US Midday: Europe pushes US higher
Posted on: 21 Aug 2012 by Polly York

Wall Street up on Europe hopes
- Urban Outfitters surges on strong earnings

Dow: 0.00%
S&P 500: +0.17%
NASDAQ: +0.06%

The S&P 500 has retreated a little since surging on Tuesday morning as investors reacted to increasingly positive news from Europe and the region’s attempts to resolve the ongoing debt crisis.

Meetings between senior European politicians and the Greek government are scheduled throughout the week as the Eurozone prepares to allow the debt burdened country a two year extension to implement its reform-for-aid plan.

Spain also managed to shift its full quota of EUR4.5bn in a sale of 12 and 18 month bonds at lower yields than at recent auctions.

COMPANIES

Clothing chain Urban Outfitters gained a huge 18% by 12:31 after income for the half year rose 8.1% to $61.3m.

Electronics retailer Best Buy was having a less fun day, down 0.9% after revealing Hubert Joly as its new Chief Executive and announcing plans to suspend share buy backs. The group also declined to issue a profit forecast for the full year, arguing it needed to give Joly time to have an impact.

BS

S&P 500 – Risers
Urban Outfitters Inc. (URBN) $36.59 +16.98%
First Solar Inc. (FSLR) $24.48 +8.97%
Alpha Natural Res (ANR) $7.04 +8.31%
Peabody Energy Corp. (BTU) $24.03 +4.75%
Allegheny Technologies Inc. (ATI) $33.97 +4.23%
Freeport-McMoRan Copper & Gold Inc. (FCX) $36.79 +4.04%
Genworth Financial Inc. (GNW) $5.52 +3.33%
Chesapeake Energy Corp. (CHK) $20.02 +3.22%
Abercrombie & Fitch Co. (ANF) $37.36 +3.06%
QEP Resources Inc (QEP) $28.19 +3.03%

S&P 500 – Fallers
Limited Brands Inc. (LTD) $47.95 -4.41%
Seagate Technology Plc (STX) $34.25 -2.37%
Best Buy Co. Inc. (BBY) $17.77 -2.15%
Western Digital Corp. (WDC) $44.42 -1.99%
SLM Corp. (SLM) $15.70 -1.69%
Phillips 66 Common Stock (PSX) $42.35 -1.67%
Verizon Communications Inc. (VZ) $43.02 -1.56%
Sherwin-Williams Co. (SHW) $137.71 -1.54%
Davita Inc. (DVA) $96.48 -1.54%
Dentsply International Inc. (XRAY) $38.11 -1.42%

Dow Jones I.A – Risers
JP Morgan Chase & Co. (JPM) $38.27 +2.41%
Cisco Systems Inc. (CSCO) $19.20 +1.37%
Alcoa Inc. (AA) $8.91 +1.25%
Bank of America Corp. (BAC) $8.24 +1.09%
Caterpillar Inc. (CAT) $91.30 +0.95%
Kraft Foods Inc. (KFT) $41.14 +0.91%
McDonald’s Corp. (MCD) $88.57 +0.45%
E.I. du Pont de Nemours and Co. (DD) $50.77 +0.42%
Johnson & Johnson (JNJ) $67.94 +0.35%
Procter & Gamble Co. (PG) $66.95 +0.30%

Dow Jones I.A – Fallers
Verizon Communications Inc. (VZ) $43.02 -1.56%
Merck & Co. Inc. (MRK) $43.30 -1.03%
Travelers Company Inc. (TRV) $65.01 -0.96%
Walt Disney Co. (DIS) $50.08 -0.73%
AT&T Inc. (T) $36.64 -0.68%
Pfizer Inc. (PFE) $23.75 -0.67%
Wal-Mart Stores Inc. (WMT) $71.88 -0.58%
International Business Machines Corp. (IBM) $199.77 -0.36%
3M Co. (MMM) $93.63 -0.28%
United Technologies Corp. (UTX) $79.90 -0.22%

Nasdaq 100 – Risers
Green Mountain Coffee Roasters Inc. (GMCR) $25.09 +3.08%
Sandisk Corp. (SNDK) $43.23 +2.27%
Autodesk Inc. (ADSK) $34.70 +2.18%
Infosys Technologies Ltd. (INFY) $43.50 +1.95%
Nuance Communications Inc. (NUAN) $24.32 +1.84%
Marvell Technology Group Ltd. (MRVL) $10.62 +1.72%
Netflix Inc. (NFLX) $65.33 +1.70%
Sirius Satellite Radio Inc. (SIRI) $2.60 +1.56%
News Corp. Class A (NWSA) $23.41 +1.52%
Cognizant Technology Solutions Corp. (CTSH) $65.00 +1.39%

Nasdaq 100 – Fallers
Baidu Inc. (BIDU) $125.00 -4.51%
Seagate Technology Plc (STX) $34.25 -2.37%
Warner Chilcott Plc (WCRX) $16.95 -1.45%
Dentsply International Inc. (XRAY) $38.11 -1.42%
Apple Inc. (AAPL) $656.77 -1.26%
Activision Blizzard Inc. (ATVI) $11.84 -1.21%
Dollar Tree Stores Inc. (DLTR) $48.14 -1.09%
Google Inc. (GOOG) $668.35 -1.06%
Fossil Inc. (FOSL) $87.49 -1.02%
Electronic Arts Inc. (EA) $13.43 -0.96%

Tags: best buy | brands inc | debt crisis | eurozone | gold inc | greek government | hubert joly | midday | positive news | urban outfitters