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 | 12,454.83 | -74.92 | -0.60% |
| Nasdaq | 2,837.53 | -1.85 | -0.07% |
| S&P 500 | 1,317.82 | -2.86 | -0.22% |
| Treasuries | 1.74 | -0.01 | -0.80% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Bank of America Corp... | 7.15 | 0.01 | 0.14% |
| Sprint Nextel Corp | 2.62 | 0.09 | 3.56% |
| Cisco Systems Inc | 16.33 | -0.06 | -0.37% |
| Chesapeake Energy Co... | 15.81 | 0.23 | 1.48% |
| Ford Motor Co | 10.60 | 0.01 | 0.09% |
| Overnight Avg Rate | Latest | Change | Last Week |
|---|---|---|---|
| 30 yr fixed | 3.80% | 3.80% | |
| 15 yr fixed | 3.09% | 3.11% | |
| 5/1 ARM | 2.65% | 2.69% | |
| 30 yr refi | 3.77% | 3.86% | |
| 15 yr refi | 3.09% | 3.21% |
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