Tech Keeps the NASDAQ Low, Dow and S&P Up Slightly
Markets were mixed in lighter than usual trading today. The NASDAQ ended the day at 4,977.29 and closed down -10.96 points. The Dow was up 59.66 points as the market continued to sluggishly push against the 18k ceiling that's been in effect this quarter. The S&P 500 was also up, adding another 3.41 points to close at 2,095.84. In overseas trading, markets were just as mixed as they are at home. The Hang Seng fell back to earth slightly, giving back -450 points of its recent rally. London's FTSE gained 11.
A Spotty Day In Tech Trading. Tech stocks were all over the board today, depending largely in which segment of the sector they served.
Meanwhile, companies that served the tech companies themselves like ARM Holdings (ARMH) fared better. ARM, the chip-maker for Apple's products among others, rose 1.50% on the day and closed up 0.76 points to $51.86. Established online brands Amazon (AMZN) and Netflix (NFLX) also continued to post gains. Share prices for Amazon rose 2.75 points to $385.11. Netflix continued a multi-day run in the black by posting gains of over 4 points and closing the day at $478.71.
Mobile Technology Firms Looking To Combine Forces. Two mobile tech manufacturers, Alcatel-Lucent (ALU) and Nokia (NOK) confirmed today that they're nearing an agreement which would result in the takeover of Nokia. Alcatel-Lucent was up 13% on news of the potentially $13 billion deal, while Nokia fell 4%.
Pacific Healthcare Rebounding After A Rocky 2014. This past year has been hard on a lot of companies, as the American economy rebounded and profits rose many businesses found themselves saddled with debt. Paying down that debt is how Pacific Healthcare (PFHO) spent 2014, and this year they're poised to deliver profits. In trading today, shares of Pacific Healthcare rose 7%, up 2.25 points to $33.00 per share. The sector as a whole is growing at a near record pace, and small-cap and mid-cap businesses are growing the fastest.
Deutsche Bank Could Breakout After LIBOR Settlement. Look for international financial powerhouse Deutsche Bank (DB) to post big gains after it settles a $1.5 Billion LIBOR dispute. The case has dragged on for years, and involves a concerted effort to manipulate interest rates worldwide. Deutsche Bank is expected to get off of the hook in the coming weeks. Today, shares in the bank rose slightly for the first time in nearly three weeks, up just 0.05 points to $35.03.