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Markets closed up on Wall Street on Friday: Dow +2.20%, S&P +2.49%, Nasdaq +3.00%, Oil +9.20%, Gold +3.11%.
On the commodities front, Oil (NYSE:USO) rose to $84.84 a barrel. Precious metals also rose, with Gold (NYSE:GLD) increasing to $1,599 an ounce while Silver (NYSE:SLV) jumped 1.19% to settle at $27.44.
Here’s your Cheat Sheet to Friday’s top stock stories:
Anheuser-Busch InBev (NYSE:BUD) announced it would purchase its remaining share in Grupo Modelo (MX:GMODELOC) that it previously did not own. The deal has a $20.1 billion value or $9.15 per share. AB InBev shares jumped 7.9 percent on Friday.
Constellation Brands Inc.’s (NYSE:STZ) shares rose after the company reported its earnings came in a penny higher than analysts’ estimates. On a separate note, Grupo Modelo SAB said it would sell its 50 percent existing stake in Crown Imports LLC. It has a joint venture that imports and markets Grupo Modelo’s U.S. brands to Constellation Brands for $1.85 billion; this allows Constellation Brands to have 100 percent ownership and control, reported MarketWatch.
ServiceNow Inc. (NYSE:NOW) had its initial public offering on Friday and joined in on the tech rally, closing up 36.67 percent.It represented one of the first tech IPOs since the Facebook (NASDAQ:FB) debacle and added hopes for a revival in the tech market. Morgan Stanley (NYSE:MS) underwrote the offering.
Research In Motion Ltd.’s (NASDAQ:RIMM) shares tanked 19 percent after the company reported dismal quarterly financial results on Thursday. It said it will layoff about 5,000 employees and delay the rollout of its new device. Numerous analysts downgraded the company’s shares on Friday.
Nike Inc. (NYSE:NKE) shares dropped more than 9 percent after the company reported on Thursday that its fiscal fourth quarter profit declined 8 percent. The news spurred several downgrades by analysts.
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