*Chicago, New York Fed presidents set to speak. Fed to buy $2.75 bln to $3.50 bln medium term bonds. "The market is just going very quiet before Bernanke and the FOMC minutes," said Lou Brien, market strategist at DRW Trading in Chicago.» Read More
NEW YORK, May 15- Network equipment maker Cisco Systems Inc posted a higher than expected quarterly profit and said current quarter revenue could increase, giving some relief to investors who had worried it was being hurt by weak technology spending.
*Copper, gold extend losses on dollar's strength. *Wheat at two-week bottom; soy, corn end lower too. NEW YORK, May 15- Brent crude oil closed up for the first time in four sessions on Wednesday, spurred by a rally in U.S. stocks, but copper and gold extended their losses as the dollar's strength continued to weigh on various commodities priced in the currency.
*Internet shares among day's gainers; Google hits new high. But shares of Apple's rival Google shot up to a new record high at $916.38 on news that it has adopted a streaming music business model. Google closed at $915.89, up 3.3 percent.
NEW YORK, May 15- U.S. stocks scaled record highs on Wednesday as weak data reinforced expectations that stimulative central bank policies would continue, while evidence that Europe was stuck in recession pushed the euro to a six-week low against the dollar.
NEW YORK, May 15- Cisco Systems Inc posted a higher than expected quarterly profit, suggesting that technology spending could be picking up for the network equipment maker's customers. Cisco shares rose about 5 percent after Chief Executive John Chambers said in a statement that the company was seeing good signs in a "slow, but steady economic environment."
NEW YORK, May 15- U.S. stocks rose on Wednesday, with the Dow and S&P 500 hitting new all-time highs in a broad market rally as the recent upward momentum persisted. The Dow Jones industrial average rose 60.44 points, or 0.40 percent, to end unofficially at 15,275.69. The Nasdaq Composite Index added 9.01 points, or 0.26 percent, to close unofficially at 3,471.62.
CHICAGO/ NEW YORK, May 15- Shares of drugmaker Bristol-Myers Squibb Co rose to a 10- year high on Wednesday ahead of results of an early stage trial for its new melanoma treatment, with heavy betting in the options market suggesting investors see more gains in the stock.
NEW YORK-- Shares of L&L Energy Inc., which mines and distributes coal in China, were up 14 percent Wednesday after the company it will provide a million tons of coal to Datang International Power Co.. THE SPARK: The Seattle company said it will supply the coal to a power plant in Guangixi. SHARE ACTION: L&L Energy stock rose 53 cents to $4.30 in afternoon trading.
CHICAGO/ NEW YORK, May 15- Shares of drugmaker Bristol-Myers Squibb Co rose to a ten-year high on Wednesday ahead of results of an early stage trial for its new melanoma treatment, with heavy betting in the options market suggesting investors see more gains in the stock.
NEW YORK-- Shares of drug developer Insmed Inc. jumped Wednesday after a Lazard Capital Markets analyst started covering the stock, saying the shares could double in value over the next year. He said sales of Insmed's lung disease drug Arikace could reach more than $600 million a year by 2020..
*Upward momentum persists, Internet shares among day's gainers. *Apple leads Nasdaq lower; hedge fund cuts stake in the company. NEW YORK, May 15- U.S. stocks edged up on Wednesday, with the Dow and S&P 500 hitting new all-time highs as the market's recent upward momentum persisted, but a steep decline in Apple kept gains in check.
NEW YORK-- Shares of The ExOne Co. tumbled Wednesday after the three-dimensional printer maker announced worse-than-expected quarterly results and issued a disappointing forecast. THE SPARK: ExOne said late Tuesday that it posted a loss of $1.9 million, or 20 cents per share, in the first quarter, compared with a loss of $1.5 million in the same quarter a year ago.
NEW YORK, May 15- U.S. stocks pared their gains on Wednesday, with the Nasdaq turning negative as Apple Inc extended its decline and fell 4 percent. The Dow Jones industrial average was up 14.67 points, or 0.10 percent, at 15,229.92. The Nasdaq Composite Index was down 5.29 points, or 0.15 percent, at 3,457.32.
Shares of Zynga Inc. and Groupon Inc. jumped Wednesday after activist shareholder Jana Partners disclosed that it has claimed a stake in both. THE BIG PICTURE: Zynga and Groupon have struggled with changing business models since going public less than 2 years ago, and their stock price has suffered, making the potential for change more appealing to investors.
Cisco Systems Inc. fell. 2 percent to $21.23 with 16,073,900 shares traded. Facebook Inc. fell. 8 percent to $26.86 with 14,183,400 shares traded. Groupon Inc. rose 4.9 percent to $7.23 with 20,733,300 shares traded.
NEW YORK-- A look at New York Stock Exchange 10 most-active stocks at 1 p.m.:. Advanced Micro Devices Inc. rose 2.8 percent to $4.38 with 23,716,300 shares traded. Bank of America Corp. rose 1.3 percent to $13.51 with 77,790,900 shares traded.
*Empire State Index contracts, PPI shows weak inflation pressure. NEW YORK, May 15- U.S. stocks climbed on Wednesday, with the Dow and S&P 500 hitting new all-time highs as the market's recent upward momentum persisted and offset some weak economic data.
*Disappointing U.S., euro zone data fuel hope of stimulus. NEW YORK, May 15- U.S. stocks climbed to record highs Wednesday as weak data reinforced an expectation that stimulative central bank policies would continue, while evidence that Europe was stuck in recession pushed the euro to a six-week low against the dollar.
NEW YORK-- Aeropostale's shares rose Wednesday as an analyst raised his rating and price target for the teen retailer, saying it seems that a turnaround is taking hold. THE SPARK: John Morris of BMO Capital Markets raised Aeropostale Inc. to "Buy" from "Market Perform" and lifted its price target to $20 from $13.
*Empire State Index contracts, PPI shows weak inflation pressure. NEW YORK, May 15- The S&P 500 and the Nasdaq rose for a fourth straight day on Wednesday as tech shares gained and offset some weak economic data.