Afternoon Market Update

US airline stocks dropped along with wider equity market. Shares of United Continental Holdings (NYSE: UAL) and Southwest Airlines Co (NYSE: LUV) traded slightly up. However, Delta Air Lines (NYSE: DAL) and JetBlue Airways Corp (NASDAQ: JBLU) traded slightly lower. The NYSE Arca Airline Index (XAL...

Shares of NetApp Inc (NASDAQ: NTAP) surged about 7%, a day after the company reported better-than-expected quarterly results. Canaccord Genuity analyst Paul Mansky upgraded the stock from “hold” to “buy.” US Energy stocks gained along with the wider market. The NYSE Arca Oil Index (XOI) rose about...

Crude oil futures moved down, while gold futures rose, after separate reports depicted a decline in consumer prices and housing starts for the month of October. Crude oil for January delivery lost $0.01 at $82.76 per barrel. Gold for December delivery gained 0.1% to $1,340 an ounce. Shares of Chico...

Shares of Perfect World (NASDAQ: PWRD) dipped around 15% after the company reported a sharp decline in its Q3 earnings. Analysts at Credit Suisse and Citigroup both downgraded PWRD to “sell” rating. Shares of Saks Inc (NYSE: SKS) lost more than 1% after the company reported its Q3 results. The...

Moody's Investors Service has affirmed its long-term rating of “A2” on Caterpillar (NYSE: CAT) after the company announced its plans to buy Bucyrus International Inc (NASDAQ: BUCY) for $8.6 billion. Moody's said, "The affirmation of CAT's ratings reflects Moody's anticipation that the Bucyrus...

Shares of Dell Inc (NASDAQ: DELL) dropped as the company is all set to report its quarterly results next week. Dell shares have fallen by 7.06% in the past 52 weeks. Shares of Dell are down about 5%. Natural gas futures remained steady after the Energy Information Administration supply (EIA) report...

US Airline stocks moved down today. Some of the losers in the list are Southwest Airlines (NYSE: LUV), JetBlue Airways (NASDAQ: JBLU) and US Airways (NYSE: LCC). The NYSE Arca Airline Index (XAL) fell about 0.2%. US Treasurys moved down to push the yields higher, after higher-than-expected decline...

Shares of LDK Solar Co (NYSE: LDK) surged about 7.2% after the company reported three-fold y/y rise in its Q3 earnings. The company projects its Q4 revenue between $710 million and $750 million. However, analysts estimated revenue of $579.4 million for the same period. US Airline stocks moved down...

The Financial Select Sector SPDR Fund (XLF) lost about 0.8% after gaining in the earlier five trading sessions. However, shares of Bank of America Corp (NYSE: BAC) moved up about 1.2%. Shares of Radian Group (NYSE: RDN) dipped about 11.2% after the company announced its plans to offer convertible...

Shares of Time Warner Cable Inc (NYSE: TWC) surged after the company announced its plans of $4 billion stock repurchase. The company also reported 34% y/y rise in its Q3 profit. TWC shares are up about 5.5%. US Airline stocks moved up after American Airlines reported its passenger-traffic demand...

Crude-oil futures moved higher after the Energy Information Administration depicted in-line rise in oil supplies. According to the EIA report, oil supplies increased 2 million barrels for the week ended October 29, in-line with the estimates. However, stockpiles of gasoline dropped 2.7 million...

Shares of Harman International Industries Inc (NYSE: HAR) surged about 15% after the company swung to FQ1 profit. The company's net income from continuing operations came in at $0.35 per share, compared with a net loss from continuing operations of $0.08 per share, in the year-ago period. The...

Shares of Southwestern Energy Co (NYSE: SWN) surged about 4.6% after the company reported a 36% rise in its Q3 earnings. The company's earnings came in at $0.46 per share. SWN's revenue came in at $682.2 million. However, analysts were expecting earnings at $0.45 per share, on revenue of $587...

Shares of Moody's Corp (NYSE: MCO) gained about 2.5% after the company reported a year-over-year rise in its Q3 results. The company's net income came in at $0.58 per share on $513.3 million in revenue. However, analysts were expecting earnings at $0.45 per share on $475.1 million in revenue....

Shares of Legg Mason Inc (NYSE: LM) moved down after the company posted upbeat quarterly earnings but reported fixed-income product outflows at $8 billion with equity outflows at $4.4 billion. Ticonderoga Securities analyst Douglas Sipkin said, "Bottom line is that it still seems as though Legg...