Dow Puts Finishing Touches on Monster Quarter
It's the final trading session of the first quarter and the markets are currently up across the board, in what would be a fitting send-off to a tremendously positive quarter. We have seen positive signs from the domestic economy that hopefully become self-reinforcing, as well as progress in Europe surrounding the Greek debt drama. With no major headlines swinging the broader market, expect it to be another low-volatility day.
With that in mind, let's take a closer look at how the major indexes are doing and some individual stocks making headlines this morning.
|Dow Jones Industrial Average (INDEX: ^DJI)||51.99||0.40%||13,197.81|
|Nasdaq (INDEX: ^IXIC)||3.80||0.12%||3,099.16|
Source: Yahoo! Finance.
Today's flat market won't change the amazing run the major indexes have been on over these past three months. The Dow has gained more than 7% while the S&P notched an 11% increase, with shockingly little volatility. However, that pales in comparison to the Nasdaq, as the tech-heavy index surged nearly 18%!
Buts it's not all about the broader indexes, and no one is grabbing more headlines this morning than Research In Motion (NAS: RIMM) . The BlackBerry maker released terrible earnings last night, reminding everyone how easily the mighty can fall. It's never a good sign when a business operating in an explosively growing segment misses terribly on the top line, with a 25% year-over-year decline. And then switches from leading the "highlights" section with revenue growth to touting its cash on hand. And then declines to issue guidance going forward. And then throws its founder overboard.
Despite all this, shares are up 5%! And for a simple reason: Current CEO Thorsten Heins said the company was reviewing "strategic opportunities," which many investors hope is code for selling the company. Microsoft (NAS: MSFT) and Amazon.com (NAS: AMZN) are mentioned as the two most likely suitors, and both have reportedly looked into partnerships with RIM as recently as December. It could make sense for both companies, not only from a patent standpoint, but also to establish their ecosystem in an important industry dominated by only a few players.
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At the time this
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