| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers S > Headlines for Sina Corp. > News item |
Morning Commentary: Convertibles flat as equities tick lower; LinkedIn changes hands at 99.55
By Rebecca Melvin
New York, Aug. 30 – U.S. convertibles were little changed in quiet trading on Tuesday as equities traded off slightly in early action amid a number of economic reports.
“There’s not much of anything going on today, unfortunately,” a New York-based trader said.
LinkedIn Corp.’s 0.5% convertible due 2019 changed hands up about 0.25 point at 99.55, according to Trace data. LinkedIn’s shares were up 3 cents at $192.32.
Sina Corp.’s 1% convertible due 2018 stands at essentially the same level as the LinkedIn bond at 99.5, but Sina wasn’t seen to have traded yet on Tuesday, after trading flat on Monday. Sina shares were up 24 cents, or 0.3%, at $75.29.
In the broader markets, equities were edging lower in the early going as a few mixed economic data points were reported. S&P 500 stock index was last down 4.3 points, or 0.2%, at 2,176.08; the Dow Jones industrial average slipped almost 50 points, or 0.3%, to 18,453.06 and the Nasdaq composite index shed 9 points, or 0.2%, to 5,223.44.
Early Tuesday, the S&P Case-Shiller 20-city composite index showed a rise of 5.1% in June compared to the year-earlier period, which was a tick lower than the 5.2% increase expected, and it was a slowdown sequentially from May's revised 5.3% increase.
The S&P/Case-Shiller U.S. National Home Price index, which measures all nine U.S. census divisions, was up 5.1% in June from the previous year.
Meanwhile, the consumer confidence index climbed to 101.1 in August, from 96.7, hitting the highest level in 11 months, according to the Conference Board survey, and that was higher than some Wall Street estimates.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.