Google Loses, Zillow Tanks, and Amazon Wins: Market Recap
It’s election day, and the markets closed up on Wall Street:
S&P 500: +0.78%, Nasdaq: +0.41%, Dow: +1.02, Gold: +2%, Oil: +3.18%.
On the commodities front, Oil (NYSE:USO) rose to $88.37 per barrel. Precious metals were up, with Gold (NYSE:GLD) hitting $1,716.80 per ounce, and Silver (NYSE:SLV) climbing to $32.04 per ounce about ten minutes after the bell.
Technology firm Vringo (AMEX:VRNG) has been awarded $16 million in damages and a royalty on Google (NASDAQ:GOOG) search ad revenue through 2016 after winning its patent case against the search company on Tuesday. The firm will also receive $7.9 million from AOL, and $6.6 million from InterActiveCorp. Vringo closed down 10.63 percent, while Google wobbled down 0.18 percent at the close.
The antitrust probe against Apple (NASDAQ:AAPL) and four book publishers will come to an end in Europe after regulators decided to accept a settlement offer made by the under-investigation companies. The decision will effectively hand Amazon (NASDAQ:AMZN) a victory in its attempt to sell e-books cheaper than its rivals, Reuters said. Amazon closed up 1.38 percent.
Shares of Zillow (NASDAQ:Z), the operator of the largest real estate information website, closed down 17.98 percent on Monday after the company forecast that fourth-quarter revenue would miss analysts’ expectations. The company still maintains its forward-looking focus.
Data and analytics provider CoreLogic has released a report indicating that home prices increased 5 percent in September compared to a year ago. This makes seven months in a row that prices have increased nationally on a year-over-year basis, suggesting that the housing market is on its way to a recovery.
Don’t Miss: Google Gets The Goliath Treatment From Vringo.