Markets Recover in Mid-Day Trading
After stumbling in early trading, the U.S. equity market has recovered, with all three major indexes in green in mid-day trading. The Dow Jones is currently up 0.23% to 10,837.25, the S&P 500 is currently up 0.08% to 1,143. 07 and the Nasdaq is currently up 0.08% to 2,371.75.
Barnes & Noble Inc. (NYSE: BKS), the New York City-based bookseller, is looking to focus on e-commerce as the trend in the market has changed from paper books to digital The company’s CEO today said that he expects 31% of the company’s revenue to come from e-commerce by 2014. Barnes & Noble stock is currently down 0.73% to $16.33.
Shares of Endo Pharmaceuticals (NASDAQ: ENDP) are rallying after the company announced this morning that it will acquire Qualitest Pharmaceuticals, which is currently owned by Apax Partners, for $1.2 billion. The Endo Pharmaceuticals stock is currently up 8.35% to $33.17.
AOL Inc. (NYSE: AOL) today said that it will acquire Techcrunch Inc., a technology blog. The company has not disclosed the financial terms of the deal. Shares of AOL Inc. are currently up 2.55% to $24.12.
Shares of Apple Inc. (NASDAQ: AAPL) feel sharply in early trading today, amid rumors that Tim Cook, the company’s COO, may take over the vacant CEO position at Hewlett-Packard Company (NYSE: HPQ). Hewlett-Packard is looking for a new CEO after Mark Hurd left the company last month. Shares of Apple Inc. fell as much as 5%, before cutting back some of the losses. The Apple Inc. stock is currently down 1.29% to $287.42, while the Hewlett-Packard stock is currently up 0.61%.
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