Stocks Slip as Economy Shrinks
Gold for April delivery surged $18.90 to settle at $1,681.60 an ounce at the Comex division of the New York Mercantile Exchange, while March crude oil futures closed up 37 cents at $97.94 a barrel.
The benchmark 10-year Treasury rose 2/32 to raise the yield to 1.995%. The dollar was down by 0.38%, according to the U.S. dollar index.
Shares surged 6%.Broadcom (BRCM) beat analysts' fourth-quarter estimates but guidance from the key Apple partner came in below Wall Street's views. Shares were up 0.5% on Wednesday. Copano Energy (CPNO) shares soared 15% after the company agreed to be acquired by Kinder Morgan Energy Partners (KMP) for about $5 billion, including the assumption of debt. Zynga (ZNGA) shares slid 2.7% amid news that the company's chief game designer Brian Reynolds is leaving the company. Aegerion Pharmaceuticals (AEGR) shares were off 2.4%. The company is now in the early days of the commercial launch of Juxtapid for the treatment of homozygous familial hypercholesterolemia (HoFH), a rare genetic disease that prevents cholesterol from being cleared from the body. -- Written by Andrea Tse and Joe Deaux in New York.
>To contact the writer of this article, click here: Andrea Tse.
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