The Nasdaq, which traded ahead the entire day, finished that way, closing up 0.27% at 3669.95. The Dow Jones Industrial Average rallied in the late afternoon to finish down marginally at 15419.68, while the S&P 500 closed down 0.12% at 1689.47.
Corporate news was the big day’s market driver. Fresh fruit and vegetable producer Dole (DOLE) rose more than 5% after chairman and CEO David Murdock announced he would take the company private in a $1.6 billion transaction that values Dole at $13.50 per share, including the assumption of debt. Dole closed right at that buyout level.
BlackBerry (BBRY) shares rose more than 10% after reporting it was putting itself up for sale. BBRY has created a special committee to look into all options available to help save it, one of which is a sale.
Apple (AAPL) improved by nearly 3% on reports that it will start selling its new iPhone in September. The iPhone news trumped an IDC report showing that Samsung (SSNLF) cut into second-quarter iPad sales, with Apple’s share of the market falling from 60% in the year-ago period to around 33%.
Analyst reports moved individual stocks, with LinkedIn (LNKD) moving ahead nearly 3% after Needham & Company moved the stock up to “buy” from “neutral.” LNKD is now up more than 100% year-to-date.
Of course analyst reports cut both ways, and the red-hot shares of electric car manufacturer Tesla (TSLA) took a breather, falling more than 3% after Lazard Capital lowered its rating from “buy” to “neutral.”
- Allied Nevada Gold (ANV): Up 10.8% (40 cents) to $4.11.
- Stratasys (SSYS): Up 8.5% ($8.07) to $103.11.
- Hecla Mining (HL): Up 5.8% (19 cents) to $3.49.
- Perion Network (PERI): Down 14.3% ($1.72) to $10.33.
- Sysco (SYY): Down 5.8% ($2.02) to $32.99.
- Vivus (VVUS): Down 4.7% (64 cents) to $12.99.
Marc Bastow is an Assistant Editor at InvestorPlace.com. As of this writing, he was long AAPL.