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Dow slightly higher as investors prep for key eurozone meeting, Brightcove in focus

17th Feb 2012, 3:02 pm by Joyanta Acharjee
Dow slightly higher as investors prep for key eurozone meeting, Brightcove in focus

US equity markets were mixed ahead of a long holiday weekend that includes a meeting of eurozone ministers expected to approve the next round of funding for Greece.

As at 2.35pm EDT, the Dow Jones Industrial Average was lately up 0.3% to 12,937.65, the S&P 500 gained nearly 2 points to 1,359.92 and the NASDAQ fell 0.4% to 2,948.82.

In corporate news, shares of Brightcove (NASDAQ:BCOV), known for its Internet video platform, jumped almost 35% in its IPO. The company's shares were priced at $11 and soared to about $14.83.

Campbell Soup Company (NYSE:CPB) said Friday its fiscal second quarter profits declined as US soup sales fell, but earnings still beat Street estimates. The soup maker also reiterated its full year fiscal 2012 guidance.

Campbell said it continues to expect revenue growth between flat and two percent, and adjusted earnings between $2.35 and $2.42 per share.

Heinz Co. (NYSE:HNZ) Friday reported higher-than-expected fiscal third-quarter profits, helped by growth in emerging markets, as the soup and sauces maker narrowed its full-year outlook.

On the economic front, the Consumer Price Index rose 0.2% in January, after remaining steady the two months prior. Analysts were expecting a rise of 0.3%.

Core inflation rose 0.2%, compared to estimates for a 0.1% rise.

Commodities

In NYMEX futures trading, Oil for March delivery gained 60 cents to $102.91 a barrel while gold for April delivery fell $7.70 to $1,720.70 an ounce.

Europe

European stocks finished modestly higher with the FTSE 100 up 0.3%, the DAX rose 1.4% and the CAC 40 gained 1.3%.

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