NEW YORK (CNNMoney) -- Just when investors' sentiment turned utterly negative and seemingly could not get worse, the stock market rebounded on Wednesday.
Yahoo (YHOO, Fortune 500) shares jumped 6% in early trading on news that CEO Carol Bartz was let go. Investors are hoping that a management overhaul could lead to major structural changes in the Internet pioneer's business strategy and unlock value in the stock. Yahoo's shares are still 60% below their 2007 high.
Nvidia's (NVDA) stock advanced more than 8% after the chipmaker raised revenue guidance for 2013. Nvidia's chips are expected to power Amazon's (AMZN, Fortune 500) tablets. Its shares are still more than 45% below their 52-week high, reached in February this year.
The news is not rosy everywhere. Shares of Urban Outfitters (URBN) are struggling near a 52-week low after the clothing retailer announced a significant slowdown in sales growth in its third quarter and reduced earnings guidance for next quarter. Its stock has lost more than 30% year-to-date.
These are some of the popular themes on StockTwits Wednesday:
stevenplace: $NVDA options board front-running the guidance raise.
firstadopter: Before u get overly excited about $NVDA FY13 guidance, remember same CEO said Zune going to do awesome vs. iPod and Tegra 2 tablets vs. iPad.
SheilaD_TV: $URBN sinks to 52-week low after saying 3Q same store sales are so far "low single-digit" negative. #retailblues
ReformedBroker: What, people aren't buying $30 CBGB T-shirts? $URBN
rohitjenveja: What would you do to fix $YHOO? Personally I'd buy out $DMD and become largest content farm. Throw more display ads on eHow.com and pray.
ericjackson: Yahoo's core business is essentially a media company, not a technology company. It would make a great fit for any big media company $YHOO.
graubart: $YHOO up 6% after the Bartz firing. If they can fire her every day for next 30 days, could return to its 2007 highs.
Index | Last | Change | % Change |
---|---|---|---|
Dow | 32,627.97 | -234.33 | -0.71% |
Nasdaq | 13,215.24 | 99.07 | 0.76% |
S&P 500 | 3,913.10 | -2.36 | -0.06% |
Treasuries | 1.73 | 0.00 | 0.12% |
Company | Price | Change | % Change |
---|---|---|---|
Ford Motor Co | 8.29 | 0.05 | 0.61% |
Advanced Micro Devic... | 54.59 | 0.70 | 1.30% |
Cisco Systems Inc | 47.49 | -2.44 | -4.89% |
General Electric Co | 13.00 | -0.16 | -1.22% |
Kraft Heinz Co | 27.84 | -2.20 | -7.32% |
Overnight Avg Rate | Latest | Change | Last Week |
---|---|---|---|
30 yr fixed | 3.80% | 3.88% | |
15 yr fixed | 3.20% | 3.23% | |
5/1 ARM | 3.84% | 3.88% | |
30 yr refi | 3.82% | 3.93% | |
15 yr refi | 3.20% | 3.23% |
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