U.S. market regained some ground Tuesday after disappointing manufacturing data sent stocks sliding in the previous session. The Dow Jones Industrial Average gained 0.47 percent, while the S&P 500 Index rallied 0.76 percent. The Indexes have fallen approximately 6.8 percent and 5.0 percent, respectively, so far in 2014. The U.S. budget deficit is expected to fall to $514 billion in 2014, the lowest level seen in Obama’s tenure, according to a congressional report released Tuesday. "The biggest concern for investors right now is, is this the beginning of a bigger pullback in the market?" said Joseph Tanious, global market strategist at JPMorgan Asset Management, according to Bloomberg. "If you look at economic growth, the earnings season and the health of corporate America, all those things appear to be doing quite well."
ARM Holdings plc (NASDAQ: ARMH) shares traded in the range of $40.90 to $44.03 Tuesday before settling to close at $43.80, a decrease of 4.39 percent. The stock appears to be facing some resistance at the $44.04 and $45.71 levels with some support at $41.87. The company reported a net loss of £6.2 million for the fourth quarter of 2013, compared to a profit of £42.5 million a year ago. Shares of ARM Holdings have fallen approximately 20.0 percent year-to-date.
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Tableau Software Inc. (NYSE: DATA) shares traded in the range of $76.29 to $80.40 Tuesday before settling to close at $79.43, an increase of 0.61 percent. The stock appears to be facing some resistance at $81.19 with some support at the $78.68 and $74.61 levels. The company reported revenues were $81.5 million for the fourth quarter of 2013, an increase of 95.0 percent year-over-year. Shares of Tableau Software have gained approximately 15.0 percent year-to-date.
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Microsoft Corporation (NASDAQ: MSFT) shares traded in the range of $36.25 to $37.19 Tuesday before settling to close at $36.35, a decrease of 0.36 percent. The stock appears to be facing some resistance at the $36.50 and $37.58 levels with some support at $35.88. The company announced that it has appointed Satya Nadella, formerly Executive Vice President of Microsoft's Cloud and Enterprise group, as CEO. Shares of Microsoft have fallen approximately 3.0 percent year-to-date.
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Zynga Inc. (NASDAQ: ZNGA) shares traded in the range of $4.49 to $4.97 Tuesday before settling to close at $4.59, an increase of 2.23 percent. The stock appears to be facing some resistance at $4.74 with some support at the $4.50 and $4.21 levels. UBS analyst Eric Sheridan has upgraded the company to a buy and has also raised its price target to $6.00. Shares of Zynga have gained approximately 20.0 percent year-to-date.
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