The markets traded mixed during the midday with the Dow rising 20 points to 18,868. Nasdaq lost 12 points to 5,225.
BMW will offer more models of electric vehicles to improve sales of fully electric and hybrid cars to 100,000 next year from 60,000 this year. The luxury automaker is also raising the range of the batteries in its i3 by 50%. Only 25,000 i3s were sold last year.
For the second time in less than two years, American Apparel has filed for Chapter 11 bankruptcy protection. The reorganization plan that was implemented after the teen apparel retailer's first bankruptcy filing failed to improve its product offerings, execute a cohesive marketing strategy or increase online sales. American Apparel has already agreed to sell its intellectual property assets and inventory to Gildan Activewear for approximately $66 million.
Nostalgic gamers snapped up Nintendo's NES Classic on Friday with the console selling out in stores and online. eBay already had the NES Classic listed for between $200 to $500 the same day that the device was released. The NES Classic is a miniature version of the Nintendo Entertainment System with 30 preloaded classic games such as Super Mario Bros, Donkey Kong, The Legend of Zelda and Pac-Man.
In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE while advancers edged out decliners by nearly 5 to 4 on Nasdaq. The broader S&P 500 added a point to 2,165. Bitcoin rose $1 to $700.
