Market Recap: Dean Foods SPIKES, Orbitz and Priceline CRASH Hard
Markets closed up on Wall Street today: Dow +0.05%, S&P +0.06%, Nasdaq -0.15%, Oil -0.32%, Gold +0.12%.
On the commodities front, Oil (NYSE:USO) declined to $93.38 a barrel. Precious metals were mixed, with Gold (NYSE:GLD) rising to $1,615.00 an ounce while Silver (NYSE:SLV) fell 0.08% to settle at $28.01.
Here’s your Cheat Sheet to today’s top stock stories:
Apple (NASDAQ:AAPL) and Google (NASDAQ:GOOG) have both bid between $150 million and $250 million for 1,100 digital patents being auctioned by Eastman Kodak, according to aWall Street Journal report. Bankrupt Kodak is selling the patents, which it believes could be worth $2.6 billion, in order to repay creditors. Kodak filed for Chapter 11 protection in January after failing to adequately adapt during the shift from film to digital photograph.
Express Scripts’ (NASDAQ:ESRX) shares increased 8 percent. The company reported that its second-quarter net earnings plummeted 49 percent as it absorbed acquisition costs. The numbers did exceed analysts expectations, driving a greater full-year forecast.
Dean Foods’ (NYSE:DF) shares jumped 37 percent. After the bell on Tuesday, the company released its second quarter earnings that included a profit It announced plans to spin off its growing organic dairy products and soy milk division.
Orbitz Worldwide’s (NYSE:OWW) shares fell 25 percent after announcing its second-quarter results. Earnings tanked 48 percent from a revenue decline and higher marketing costs. The company tightened up its profit and revenue outlook.
Orbitz’s foe Priceline.com’s (NASDAQ:PCLN) shares also dropped on Wednesday, down 16 percent. On Tuesday the company said its second-quarter earnings exceeded expectations but it offered a disappointing forecast thanks to the economic problems in Europe.