Markets Mixed as Tech Stocks Have Strong Day
PUBLISHED ON: Nov 26, 2012
The NASDAQ and Dow were up and down by single digits, respectively, as tech stocks took center stage for the day and investors continued to show worry over the looming "Fiscal Cliff". Shares of Facebook (FB) were up over 8% after the stock was upgraded to higher revenue growth potential. Apple (AAPL) also saw a big gain on Monday after suffering over the past few weeks. Preliminary sales estimates for "Cyber Monday" showed a 24% increase in consumer spending over last year, according to IBM (IBM)'s digital analytics platform.
Word on the Street
- Nintendo reported sales of 400,000 Wii U units in its first week.
- Knight Capital (KCG) up for sale as rumors of a merger swirl.
- Shares of McDonald's (MCD) slid after a downgrade from Lazard to "Buy" from "Neutral".
- Yahoo! (YHOO) hit its highest price in two years after a positive outlook from Goldman Sachs.