Markets Are Higher Ahead Of The 3-Day Weekend
The Dow up up 38 points (0.2%), the S&P is up 3 points (0.2%), and the Nasdaq is up 7 points (0.2%).
The big story of the day is Vladimir Putin's appearance on CNBC, during which he called the ouster of Ukrainian president Viktor Yanukovych a "coup d'état." Putin also said Russia's gas deal with China will enable the country to be a swing gas producer between Europe and Asia.
The biggest stock story of the day is Hewlett-Packard, which last night reported earnings, which were mistakenly released before the bell. The company reported an in-line quarter and announced another huge round of layoffs, with up to 16,000 employees potentially on the chopping block.
In morning trade HP shares are up more than 4%.
Some other stocks that are moving include:
- GameStop (GME) is up better than 5% after reporting better than expected earnings last night.
- PTC Therapeutics (PTCT) is up more than 50% after announcing that European regulators announced a positive opinion for the company's Duchenne muscular syndrome treatment.
- Aeropostale (ARO) shares are getting slammed, down 18%, after the teen retailer reported net sales that fell 12%. The company also said it expects operating losses of up to $54 million the second quarter. Its been a terrible week for retailers. The SPDR S&P Retail ETF (XRT) is down about 1% this week, while the S&P 500 has gained about 1%.
- Aruba Networks (ARUN) is getting smoked after earnings, down 15% after its earnings came in short of estimates.