Stocks Rise Ahead of Turkey Day
The FTSE 100 in London closed up 0.07%, while the DAX in Germany finished higher by 0.16%.
Japan's Nikkei average settled up 0.87% on Wednesday and Hong Kong's Hang Seng index closed higher by 1.39%.
Gold for December delivery settled up $4.60 at $1,728.20 an ounce at the Comex division of the New York Mercantile Exchange, while January crude oil contracts closed up 63 cents at $87.38.
The benchmark 10-year Treasury fell 3/32, to raise the yield to 1.682%. The dollar was up 0.04%, according to the U.S. dollar index.In corporate news, Deere (DE) shares slid 3.7% after the agricultural equipment maker posted fiscal fourth-quarter earnings below analysts' estimates amid higher production costs and increased selling, administrative and general, and research and development expenses. The company reported earnings of $1.75 a share on revenue of $9.79 billion; analysts, on average, were expecting a profit of $1.88 a share on revenue of $8.85 billion. Salesforce.com (CRM), the cloud computing company, on Tuesday delivered a 35% year-over-year revenue increase in its latest quarter. The company reported non-GAAP earnings of $49.6 million, or 33 cents a share, for the third quarter on revenue of $788 million. Analysts expected profit of 32 cents a share on revenue of $776.5 million. Salesforce.com forecast non-GAAP earnings of 38 cents to 40 cents a share in its fiscal fourth quarter on revenue ranging from $825 million to $830 million. Wall Street's current consensus view is for a profit of 40 cents a share on revenue of $829.9 million. Shares gained 8.8%. St. Jude Medical (STJ) shares tumbled 12.2% after the cardiovascular medical devices company was found by the U.S. Food and Drug Administration to have deep flaws in its oversight of the Durata line of implantable defibrillator leads. MIPS Technologies (MIPS) shares added 7.1% after the provider of industry-standard processor architectures and cores announced that it has received an unsolicited proposal from CEVA (CEVA) to acquire all of the company's outstanding shares for $75 million in cash.
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