Stocks closed higher in volatile session after reports Silvio Berlusconi would resign as prime minister of Italy as the country works to reign in its debt. Berlusconi offered to step down as soon as Italy’s Parliament approves austerity measures in a vote expected to occur next week. Tech stocks also rose with Priceline.com and Demand Media leading the gains, as investors reacted to the companies’ respective financial results. Also, Activision Blizzard gained 1.4% to close at three –years high, after the co. launched “Modern Warfare 3,” part of its blockbuster “Call of Duty” franchise, and most analysts expect it to be the industry’s top-selling title of the year. In the evening trade Adobe Systems slid after the the co. outlined plans to cut jobs and lowered its quarterly earnings projection, while Yahoo bounced higher following a report about a possible effort to purchase the online search firm. Implied volatility inched lower again on modest volumes.
Wednesday, November 9, 2011
Posted solid gains
Stocks closed higher in volatile session after reports Silvio Berlusconi would resign as prime minister of Italy as the country works to reign in its debt. Berlusconi offered to step down as soon as Italy’s Parliament approves austerity measures in a vote expected to occur next week. Tech stocks also rose with Priceline.com and Demand Media leading the gains, as investors reacted to the companies’ respective financial results. Also, Activision Blizzard gained 1.4% to close at three –years high, after the co. launched “Modern Warfare 3,” part of its blockbuster “Call of Duty” franchise, and most analysts expect it to be the industry’s top-selling title of the year. In the evening trade Adobe Systems slid after the the co. outlined plans to cut jobs and lowered its quarterly earnings projection, while Yahoo bounced higher following a report about a possible effort to purchase the online search firm. Implied volatility inched lower again on modest volumes.
