Stocks edged higher after a news report that Greece had drafted a new financing deal with the European Union and International Monetary Fund. Greece will commit to permanent spending cuts that include reduced pension payments and a 20% cut in the minimum wage. Tech stocks got a lift from gains in Computer Sciences which soared 18.5% on better-than-expected earnings and new SEO introduction. Support also came from Rambus which jumped 9% after unveiling a patent license deal with Nvidia. Cisco lost 0.3% in the evening trade, giving up gains that came after the co. turned in better-than-anticipated financial results. Also, Groupon tumbled 11% following an unexpected loss. Akami bounced 13% higher on upbeat earnings. Today finance ministers from the 17 nations that use the euro currency will meet to discuss the situation in Greece, according to a spokesman for Eurogroup president Jean-Claude Juncker. Implied volatility little changed on modest trading volumes.
Thursday, February 9, 2012
Closed with modest gains
Stocks edged higher after a news report that Greece had drafted a new financing deal with the European Union and International Monetary Fund. Greece will commit to permanent spending cuts that include reduced pension payments and a 20% cut in the minimum wage. Tech stocks got a lift from gains in Computer Sciences which soared 18.5% on better-than-expected earnings and new SEO introduction. Support also came from Rambus which jumped 9% after unveiling a patent license deal with Nvidia. Cisco lost 0.3% in the evening trade, giving up gains that came after the co. turned in better-than-anticipated financial results. Also, Groupon tumbled 11% following an unexpected loss. Akami bounced 13% higher on upbeat earnings. Today finance ministers from the 17 nations that use the euro currency will meet to discuss the situation in Greece, according to a spokesman for Eurogroup president Jean-Claude Juncker. Implied volatility little changed on modest trading volumes.
