After Market: A Good Day for Tech; New Records for Dow, S&P 500

×

Two tech giants continued to shine in the markets Wednesday: Hewlett-Packard (HPQ) shares jumped 9 percent, rising to their highest level in more than a year. The stock has now soared 121 percent over the past 12 months. The latest spark was a better-than-expected earnings report. And Apple (AAPL) may have broken out of its recent trading range. It gained another 2 percent and is now trading above $545 a share.
Hewlett Packard computer servers MDXZsm
Alamy
Overall, trading volume was light as investors and traders hit the road ahead of the holiday. Of course, the market is closed on Thursday, and there's only a half-day of trading on Friday.

The Dow Jones industrial average (^DJI) rose 24 points, and the Standard & Poor's 500 index (^GPSC) edged up 4 -- both to new record highs -- and the Nasdaq composite index (^IXIC) jumped 27 points, bolstered by two of the index's best performers this year.

Tesla (TSLA) rose 5 percent. It's well off its all-time high, but still up 290 percent from a year ago. And Biogen-Idec (BIIB) added 1.5 percent on investor optimism about its multiple sclerosis drug.

And as retailers wait for -- and hope for -- a shopper onslaught, some key players moved higher.

J.C. Penney (JCP) jumped more than 7 percent. It sees higher holiday sales. Macy's (M) and Target (TGT) both added about 1 percent, and Walmart (WMT) edged to an all-time high.

Also Moving Up:
  • Sodastream (SODA) bubbled up by 3 percent after introducing pre-measured, single-use capsules for its make-your-own machines.
  • Foster Wheeler gained 6 percent on reports the engineering firm is in talks to be acquired.
  • And footwear maker Crocs (CROX) gained 2 percent. It's said to be in talks about an investment from a buyout firm.

On the Downside:
  • Tivo (TIVO) lost 4 percent despite reporting sharply higher revenue and an increase in subscribers.
  • Infoblox (BLOX) tumbled 29 percent as the maker of network automation technology posted a wider loss and issued a disappointing forecast.
  • And several companies in the oil patch slipped as U.S. crude oil inventories rose more than expected. Newfield Exploration (NFX), Laredo Petroleum (LPI) and Noble Energy (NBL) all lost more than 4 percent.

What to Watch Thursday:

  • U.S. financial markets are closed for the Thanksgiving holiday.
What to Watch Friday:
  • U.S. stock markets close at 1 p.m. Eastern time; bond markets at 2 p.m.
-Produced by Drew Trachtenberg.


Increase your money and finance knowledge from home

Managing your Portfolio

Keeping your portfolio and financial life fit!

View Course »

Goal Setting

Want to succeed? Then you need goals!

View Course »

Add a Comment

*0 / 3000 Character Maximum

10 Comments

Filter by:
Rebecca Holt

Ian. even though Emily`s story is super... on sunday I bought a gorgeous GMC when I got my check for $4499 this past 4 weeks and in excess of ten-grand last-month. this is definitely the nicest job Ive ever done. I started this five months/ago and almost immediately started to make minimum $82 per/hr. Read Full Report http://tiny.cc/vi3d5w

November 28 2013 at 12:11 AM Report abuse -1 rate up rate down Reply
JIM REYNOLDS

obama forever

November 27 2013 at 9:21 PM Report abuse rate up rate down Reply
2 replies to JIM REYNOLDS's comment
pdbliz

We all knows what happens to KINGS.!!!!!

November 27 2013 at 10:03 PM Report abuse -1 rate up rate down Reply
mrspelosi

Oh what a dreadful thought dear. Perhaps you had a little too much at happy hour earlier today darling.

November 27 2013 at 11:30 PM Report abuse -2 rate up rate down Reply
eye.feltersnatch

TECH STOCKS~~>OBAMITS UNCONSTITUTIONAL WELFARE "HELL" CARE WILL MEET ALL AMERICANS RESISTANCE UNTILL IT IS ABOLISHED N OBAMIT IS REMOVED FROM OUR WHITE HOUSE IN HANDCUFFS. !!

November 27 2013 at 8:41 PM Report abuse +3 rate up rate down Reply
pdbliz

Good news,,,,,I seen Obama on tv today talking about,,,he believes all people deserve to have car insurance.....
HERE IT COMES AGAIN.!!!!!!!

November 27 2013 at 6:47 PM Report abuse -1 rate up rate down Reply
1 reply to pdbliz's comment
betty_brock

Oh boy. Obamacar.

November 27 2013 at 8:22 PM Report abuse +2 rate up rate down Reply
1 reply to betty_brock's comment
pdbliz

I heard they may come out in late Nov,,,next year,,,right after the electric airplane.

November 27 2013 at 10:05 PM Report abuse -2 rate up rate down
rrfotobus

Gosh darn those Obama policies... They keep making the GOP policies under the Bush administration look bad.. I am sure the Republicans will find a negative in this; they alway do even as they constantly promote their own failed ability to govern..

November 27 2013 at 5:14 PM Report abuse -2 rate up rate down Reply
3 replies to rrfotobus's comment