US Midday: Markets down slighty, Man United shares up after IPO
Posted on: 10 Aug 2012 by Polly York

Stocks slightly down on China data
- Manchester United sees successful IPO

Dow: -0.16%
S&P 500: -0.12%
NASDAQ: +0.25%

On the day England’s most successful football club had its initial public offering on the New York Stock Exchange, most traders were worried by data coming out of China.

Significant drops in both export growth in July (1% compared to 11% in June) and a near halving of local currency loans have emphasised the enormity of the Chinese slowdown.

Making matters worse, French industrial production is going nowhere, and neither Spain nor Italy have made the formal requests for aid that would see the European Central Bank buy their distressed short term debt.

COMPANIES

Manchester United is now a publically listed company in the United States of America. Some of the fans aren’t happy but on its first trading day the stock appears to be doing ok, up 0.11% by 12:27.

The Glazer family which owns Man U. has raised around $233.3m from selling 10% of the stock. The so called ‘A’ shares carry only one tenth of the voting rights as the Glazers’ own securities. Man U’s debt stands at around $661m.

Things were not looking quite as rosy for Yahoo which fell back 5.4% after management appeared to signal it would not be returning cash to shareholders despite selling half its stake in Chinese e-commerce platform Alibaba for $7bn. Yahoo’s market cap is now $18.54bn.

BS

S&P 500 – Risers
Janus Capital Group Inc. (JNS) $8.47 +10.14%
CareFusion Corp. (CFN) $26.37 +7.33%
Harman International Industries Inc. (HAR) $44.00 +3.51%
Dun & Bradstreet Corp. (DNB) $79.20 +2.94%
Netflix Inc. (NFLX) $59.59 +2.90%
Broadcom Corp. (BRCM) $35.17 +2.45%
GameStop Corp. (GME) $17.23 +2.38%
Seagate Technology Plc (STX) $33.82 +2.21%
Patterson Companies Inc. (PDCO) $35.20 +2.06%
DIRECTV (DTV) $51.53 +2.04%

S&P 500 – Fallers
Monster Beverage Corp (MNST) $55.64 -9.08%
Yahoo! Inc. (YHOO) $15.10 -5.68%
Big Lots Inc. (BIG) $39.01 -5.57%
Nabors Industries Ltd. (NBR) $14.90 -4.68%
DeVry Inc. (DV) $19.23 -3.22%
Chesapeake Energy Corp. (CHK) $19.69 -3.07%
Expedia Inc. (EXPE) $54.35 -2.88%
Southwestern Energy Co. (SWN) $31.98 -2.56%
Family Dollar Stores Inc. (FDO) $63.44 -2.25%
W.W. Grainger Inc. (GWW) $199.93 -2.24%

Dow Jones I.A – Risers
McDonald’s Corp. (MCD) $87.93 +0.90%
Alcoa Inc. (AA) $8.93 +0.79%
Hewlett-Packard Co. (HPQ) $19.56 +0.77%
Intel Corp. (INTC) $26.83 +0.47%
AT&T Inc. (T) $37.39 +0.43%
United Technologies Corp. (UTX) $77.32 +0.37%
E.I. du Pont de Nemours and Co. (DD) $50.72 +0.36%
Johnson & Johnson (JNJ) $68.49 +0.24%
Merck & Co. Inc. (MRK) $44.34 +0.14%
3M Co. (MMM) $91.66 +0.08%

Dow Jones I.A – Fallers
American Express Co. (AXP) $55.47 -1.78%
Cisco Systems Inc. (CSCO) $17.49 -1.21%
Walt Disney Co. (DIS) $49.45 -1.02%
Kraft Foods Inc. (KFT) $40.79 -0.68%
Microsoft Corp. (MSFT) $30.31 -0.62%
Coca-Cola Co. (KO) $78.85 -0.49%
JP Morgan Chase & Co. (JPM) $36.74 -0.49%
International Business Machines Corp. (IBM) $197.54 -0.44%
Home Depot Inc. (HD) $52.92 -0.43%
General Electric Co. (GE) $20.98 -0.40%

Nasdaq 100 – Risers
Research in Motion Ltd. (RIMM) $8.16 +4.62%
Nuance Communications Inc. (NUAN) $23.46 +3.62%
Netflix Inc. (NFLX) $59.59 +2.90%
Broadcom Corp. (BRCM) $35.17 +2.45%
Seagate Technology Plc (STX) $33.82 +2.21%
DIRECTV (DTV) $51.53 +2.04%
Sirius Satellite Radio Inc. (SIRI) $2.44 +1.87%
Biogen Idec Inc. (BIIB) $145.67 +1.80%
NetApp Inc. (NTAP) $32.67 +1.68%
Randgold Resources Ltd. Ads (GOLD) $99.87 +1.62%

Nasdaq 100 – Fallers
Monster Beverage Corp (MNST) $55.64 -9.08%
Liberty Interactive Corp (LINTA) $17.26 -8.44%
Yahoo! Inc. (YHOO) $15.10 -5.68%
Expedia Inc. (EXPE) $54.35 -2.88%
Fastenal Co. (FAST) $41.98 -1.94%
Bed Bath & Beyond Inc. (BBBY) $62.50 -1.67%
Ross Stores Inc. (ROST) $66.71 -1.59%
Dollar Tree Stores Inc. (DLTR) $50.86 -1.55%
Micron Technology Inc. (MU) $6.72 -1.40%
Sandisk Corp. (SNDK) $41.03 -1.35%

S&P 500 – Risers
Janus Capital Group Inc. (JNS) $8.47 +10.14%
CareFusion Corp. (CFN) $26.37 +7.33%
Harman International Industries Inc. (HAR) $44.00 +3.51%
Dun & Bradstreet Corp. (DNB) $79.20 +2.94%
Netflix Inc. (NFLX) $59.59 +2.90%
Broadcom Corp. (BRCM) $35.17 +2.45%
GameStop Corp. (GME) $17.23 +2.38%
Seagate Technology Plc (STX) $33.82 +2.21%
Patterson Companies Inc. (PDCO) $35.20 +2.06%
DIRECTV (DTV) $51.53 +2.04%

S&P 500 – Fallers
Monster Beverage Corp (MNST) $55.64 -9.08%
Yahoo! Inc. (YHOO) $15.10 -5.68%
Big Lots Inc. (BIG) $39.01 -5.57%
Nabors Industries Ltd. (NBR) $14.90 -4.68%
DeVry Inc. (DV) $19.23 -3.22%
Chesapeake Energy Corp. (CHK) $19.69 -3.07%
Expedia Inc. (EXPE) $54.35 -2.88%
Southwestern Energy Co. (SWN) $31.98 -2.56%
Family Dollar Stores Inc. (FDO) $63.44 -2.25%
W.W. Grainger Inc. (GWW) $199.93 -2.24%

Dow Jones I.A – Risers
McDonald’s Corp. (MCD) $87.93 +0.90%
Alcoa Inc. (AA) $8.93 +0.79%
Hewlett-Packard Co. (HPQ) $19.56 +0.77%
Intel Corp. (INTC) $26.83 +0.47%
AT&T Inc. (T) $37.39 +0.43%
United Technologies Corp. (UTX) $77.32 +0.37%
E.I. du Pont de Nemours and Co. (DD) $50.72 +0.36%
Johnson & Johnson (JNJ) $68.49 +0.24%
Merck & Co. Inc. (MRK) $44.34 +0.14%
3M Co. (MMM) $91.66 +0.08%

Dow Jones I.A – Fallers
American Express Co. (AXP) $55.47 -1.78%
Cisco Systems Inc. (CSCO) $17.49 -1.21%
Walt Disney Co. (DIS) $49.45 -1.02%
Kraft Foods Inc. (KFT) $40.79 -0.68%
Microsoft Corp. (MSFT) $30.31 -0.62%
Coca-Cola Co. (KO) $78.85 -0.49%
JP Morgan Chase & Co. (JPM) $36.74 -0.49%
International Business Machines Corp. (IBM) $197.54 -0.44%
Home Depot Inc. (HD) $52.92 -0.43%
General Electric Co. (GE) $20.98 -0.40%

Nasdaq 100 – Risers
Research in Motion Ltd. (RIMM) $8.16 +4.62%
Nuance Communications Inc. (NUAN) $23.46 +3.62%
Netflix Inc. (NFLX) $59.59 +2.90%
Broadcom Corp. (BRCM) $35.17 +2.45%
Seagate Technology Plc (STX) $33.82 +2.21%
DIRECTV (DTV) $51.53 +2.04%
Sirius Satellite Radio Inc. (SIRI) $2.44 +1.87%
Biogen Idec Inc. (BIIB) $145.67 +1.80%
NetApp Inc. (NTAP) $32.67 +1.68%
Randgold Resources Ltd. Ads (GOLD) $99.87 +1.62%

Nasdaq 100 – Fallers
Monster Beverage Corp (MNST) $55.64 -9.08%
Liberty Interactive Corp (LINTA) $17.26 -8.44%
Yahoo! Inc. (YHOO) $15.10 -5.68%
Expedia Inc. (EXPE) $54.35 -2.88%
Fastenal Co. (FAST) $41.98 -1.94%
Bed Bath & Beyond Inc. (BBBY) $62.50 -1.67%
Ross Stores Inc. (ROST) $66.71 -1.59%
Dollar Tree Stores Inc. (DLTR) $50.86 -1.55%
Micron Technology Inc. (MU) $6.72 -1.40%
Sandisk Corp. (SNDK) $41.03 -1.35%

Tags: alibaba | china data | commerce platform | enormity | formal requests | glazers | new york stock | new york stock exchange | risers | voting rights