Market Update (AM, XLNX, INTC, BRCM, AAPL, MSFT, IBM)

Shares of American Greetings Corp AM surged about 5.9% after the company reported upbeat Q3 earnings. The company's earnings increased to $0.78 per share, from $0.75 per share, in the year-earlier period. The company's revenue came in at $430 million, down from $440 million, in the year-ago period. However, analysts were expecting earnings at $0.69 per share, on revenue of $434 million. US tech stocks were mixed on Wednesday. Shares of Xilinx Corp. XLNX dropped about 2% after the company reduced its FQ3 revenue projections. Some of the other decliners in the list included Intel Corp INTC and Broadcom Corp BRCM. However, some gainers in the list were Apple Inc AAPL, Microsoft Corp MSFT and IBM Corp IBM. Crude-oil futures narrowed their gains after the Energy Information Administration (EIA) reported wider-than-expected decline in the crude-oil stockpiles last week. Oil for February delivery gained $0.63 to $90.45 per barrel, compared with $90.60 per barrel ahead of the data. Read more from Benzinga's Markets.