This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Markets Diverge as Apple Gets Hammered

Additionally, the Energy Information Administration reported that crude oil inventories dipped 200,000 barrels, while gasoline and distillates added 1.7 million and 2.6 million barrels, respectively. Cindy Wexler, an independent trader at the New York Mercantile Exchange, said in an interview that in the oil trade the petroleum status report was a secondary factor to the situation involving Syria.

West Texas Intermediate light sweet crude at the NYMEX closed higher for the first time this trading week as the October contract rose 17 cents to settle at $107.56 a barrel for the October contract. Energy stocks Newfield Exploration (NFX) and WPX Energy (WPX) were the top two gainers on the S&P, rising 7.5% and 4.7%, respectively.

Verizon (VZ - Get Report) will sell as much as $49 billion worth of bonds to raise the funds needed to buy Vodafone (VOD) from their Verizon Wireless joint venture, The Wall Street Journal reported. Shares closed incrementally higher at $46.52.

Texas Instruments (TXN - Get Report) narrowed its earnings guidance for the third quarter. The chipmaker said Tuesday that it expects to earn between 51 cents and 55 cents a share in the quarter, which was lower than the previous guidance of 49 cents to 57 cents a share. Analysts have predicted earnings of 53 cents a share. Company shares dropped 0.69% to $40.03.

Investors appeared to absorb President Barack Obama's nationwide address Tuesday night on Syria in which he proposed a diplomatic solution with Russia's aid to seize Syria's chemical weapons arsenal thereby avoiding a military intervention in the Middle Eastern nation. Obama did reiterate that, if necessary, a limited targeted strike could be used to achieve a clear goal: "deterring the use of chemical weapons and degrading Assad's capabilities."

"The Syria address last night by the president, I think, just no surprised there [went] as expected," said Kent Croft, portfolio manager with Croft Leominster. "There are not any big surprises out there right now."

European markets closed higher on Wednesday. The FTSE 100 in London was up 0.07%, and the DAX in Frankfurt added 0.58%.

-- Written by Joe Deaux in New York.

>Contact by Email.

2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $117.81 0.00%
IBM $138.46 0.00%
MSFT $53.93 0.00%
TXN $57.55 0.00%
VZ $45.23 0.00%


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs