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From Briefing.com: 4:30 pm : Stocks began the day firmly in the red after Barack Obama was reelected to a second term as president. Contributing to the bearish sentiment were comments from European Central Bank President Mario Draghi who said that the European debt crisis is starting hurt the German economy. The negative outlook was confirmed by this morning's Eurozone Autumn Forecast, which also pointed to an expected slowdown in the German economy. Further, the country's industrial production report showed a 1.8% month-over-month decrease, while the reading was expected to reflect a more palatable decline of 0.5%. The S&P 500 spent the first two hours of the session in a steady sell-off, before stabilizing near the 1,400 level and ending with a loss of 2.4% on heavy volume.

The financial sector saw the widest losses, and the SPDR Financials Select Sector ETF (XLF 15.61, -0.54) fell 3.3%. Among the majors, Morgan Stanley (MS 16.63, -1.56) and Bank of America (BAC 9.23, -0.71) were two of the weakest names as they settled lower by 8.6% and 7.1%, respectively.

Real estate investment trusts saw relative strength as compared to the remainder of the financial sector. The Vanguard REIT Index ETF (VNQ 64.68, -0.29) shed 0.5%. Looking at individual REITs, American Tower Corporation (AMT 75.24, +1.47) gained 2.0% after AT&T (T 33.63, -1.16) announced plans to modernize and expand its network. Meanwhile, Public Storage (PSA 143.34, +2.31) advanced 1.6%, and healthcare REIT Ventas (VTR 64.12, +0.21) rose by 0.3%.

With crude oil down over 4.5%, energy stocks saw notable weakness. Among major energy producers, Exxon Mobil (XOM 88.18, -2.86), Chevron (CVX 107.51, -2.85), and Anadarko Petroleum (APC 70.41, -2.66) lost between 2.5% and 3.6%.

Providers of energy equipment also underperformed. ION Geophysical (IO 6.39, -0.36) and Basic Energy Services (BAS 9.47, -0.56) closed lower by 5.3% and 5.6%, respectively.

Coal stocks saw broad losses after presidential challenger and coal proponent, Mitt Romney, was denied his bid for the White House. The Market Vectors Coal ETF (KOL 24.45, -1.42) lost 5.5%. Arch Coal (ACI 7.58, -1.08) was one of the weakest performers, and fell 12.5%. Peers Peabody Energy (BTU 26.24, -2.80), CONSOL Energy (CNX 33.28, -2.16), Walter Energy (WLT 34.26, -3.05) saw respective losses of 9.6%, 6.1%, and 8.2%.

The health care sector outperformed the broader market due to strength in hospital operators. During the presidential campaign, the Affordable Care Act was a point of contention, and Mr. Romney threatened to repeal the law if elected. Mr. Obama's reelection bodes well for healthcare stocks which benefit from the law. Community Health Systems (CYH 30.39, +1.71) and Health Management Associates (HMA 8.28, +0.56) gained 6.0% and 7.3%, respectively. Meanwhile, Tenet Healthcare (THC 27.34, +2.39) surged 9.6%.

Homebuilders saw narrower losses than the broader market and the SPDR S&P Homebuilders ETF (XHB 26.43, -0.27) slipped 1.0%. Hovnanian Enterprises (HOV 5.50, +0.19) and Lennar (LEN 39.05, +0.16) rose by 3.6% and 0.4%, respectively.

Elsewhere, gun maker stocks outperformed. Sturm, Ruger & Co (RGR 47.68, +3.04) gained 6.8% and Smith & Wesson (SWHC 10.36, +0.90) soared 9.6%.

The Dow Jones Transportation Average outperformed the remaining industrials. Within the 20-stock complex only United Continental (UAL 20.53, +0.06) traded in the black. The air carrier added 0.3%.

Freight carrier Con-way (CNW 28.56, -1.23) was the biggest laggard among transportation stocks, down 4.1%. Railroads also lagged. Kansas Southern (KSU 79.67, -2.53) and CSX (CSX 20.23, -0.63) both lost near 3.0%.

Looking at earnings, News Corp (NWSA 24.67, +0.39) finished higher by 1.6% after beating on earnings. During the first quarter, the media company earned $0.43 on $8.14 billion in revenue. The company's bottom line exceeded the Capital IQ consensus estimate by $0.05, while the revenue was in-line with expectations.

WellPoint (WLP 57.85, -3.35) slid 5.5% after the health benefits company reported mixed earnings. WLP earned $2.09, which was $0.25 better than the Capital IQ consensus estimate. However, the company's revenue of $15.13 billion was reported below expectations. Following the earnings release, Bank of America/Merrill Lynch downgraded the stock to ‘underperform' from ‘buy.'

In today's economic news, the weekly MBA Mortgage Index showed a 5.0% decrease in new applications. This follows prior week's decline of 4.8%.

Meanwhile, consumer credit increased by $11.4 billion in September. This follows prior month's reading of an $18.1 billion increase, and was higher than the $10.6 billion that had been broadly expected among economists polled by Briefing.com.

Tomorrow, weekly initial and continuing claims and the September trade balance will all be released at 8:30 ET.

The U.S. Treasury will auction off $16 billion in 30-yr bonds.DJ30 -312.95 NASDAQ -74.64 SP500 -33.86 NASDAQ Adv/Vol/Dec 377/2.0 bln/2120 NYSE Adv/Vol/Dec 557/878.1 mln/2550

3:30 pm : Crude oil tumbled deeper into negative territory on broad market weakness and a stronger dollar following the re-election of Barack Obama as the country's President. Inventory data that showed a build of 1.766 mln barrels when a build of 1.8 mln barrels was anticipated did little to change crude's downward trend. The energy component dipped as low as $84.05 per barrel moments before it settled pit trade with a 4.6% loss at $84.50 per barrel.

Similarly, precious metals feel into negative territory alongside the equities market. Gold fell off its session high of $1730.00 per ounce and dipped as low as $1703.00 per ounce. However, buyers stepped in and took prices back to near the unchanged level by afternoon pit trade. Gold settled the session just $0.40 lower at $1714.10 per ounce.

Silver traded as high as $32.28 per ounce in early morning floor action but tumbled to a session low of $31.22 per ounce. It also attempted to erase losses but eventually settled 1.1% lower at $31.67 per ounce.

Natural gas also spent its entire floor session in the red. It brushed a session high of $3.60 per MMBtu and touched a session low of $3.56 per MMBtu before it settled 1.1% lower at $3.58 per MMBtu.DJ30 -239.17 NASDAQ -59.66 SP500 -25.39 NASDAQ Adv/Vol/Dec 362/1662.4 mln/2104 NYSE Adv/Vol/Dec 557/594 mln/2536

4:25PM Novatel Wireless misses by $0.01, misses on revs; guides Q4 EPS below consensus, revs below consensus (NVTL) 1.71 -0.05 : Reports Q3 (Sep) loss of $0.27 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus Estimate of ($0.26); revenues fell 37.3% year/year to $71 mln vs the $78.8 mln consensus. Co issues downside guidance for Q4, sees EPS of ($0.31)-(0.20), excluding non-recurring items, vs. ($0.07) Capital IQ Consensus Estimate; sees Q4 revs of $67-80 mln vs. $106.02 mln Capital IQ Consensus Estimate.

4:25PM Universal Display (halted, will resume at 16:50) misses by $0.17, misses on revs; lowers FY12 rev below consensus (PANL) 28.18 -3.89 : Reports Q3 (Sep) loss of $0.12 per share, $0.17 worse than the Capital IQ Consensus Estimate of $0.05; revenues fell 42.7% year/year to $12.5 mln vs the $19.2 mln consensus. Results for the third quarter of 2012 do not include the recognition of any revenue under a licensing agreement with Samsung Display Co. Ltd. (SDC), under which SDC is obligated to make payments to the Company of $15 million in each of the second and fourth quarters of this year. Had the Company recognized these payments on a pro rata quarterly basis over the year, it would have resulted in an additional $7.5 million of royalty and license fees revenue in the third quarter. The SDC licensing revenue is subject to a royalty fee of 3% payable to the Company's university partners, and 16.5% in South Korean taxes. "Material sales in the quarter were consistent with the first quarter of the year, reflecting what we believe to be a temporary slowdown in industry growth. We believe that a more indicative measure of our continued strong growth and the outlook for OLED technology is the 29 percent growth in year-over-year revenues over the first three quarters of the year despite having only received half of the year's Samsung licensing revenue."

Co issues downside guidance for FY12, lowers FY12 revs to $80-82 mln from $90-110 mln vs. $99.84 mln Capital IQ Consensus Estimate -- with the caveat that the OLED industry is in the early stage of development and commercial adoption, where the delay or acceleration in the introduction of a commercial line or products by a small number of customers could have a material impact on the co's rev opportunities.

4:06PM Qualcomm beats by $0.07, beats on revs; guides Q1 EPS, revs above consensus; guides FY13 EPS, revs above consensus (QCOM) 58.12 -2.25 : Reports Q4 (Sep) earnings of $0.89 per share, excluding non-recurring items, $0.07 better than the Capital IQ Consensus Estimate of $0.82; revenues rose 18.3% year/year to $4.87 bln vs the $4.66 bln consensus. Q4 metrics: MSMM chip shipments: 141 million units, up 11 percent y-o-y and even QoQ. June quarter total reported device sales: ~$46.5 billion, up 19 percent y-o-y and down 3% QoQ. June quarter estimated 3G/4G device shipments: ~210 to 214 million units, at an estimated average selling price of ~$216 to $222 per unit.

Co issues upside guidance for Q1, sees EPS of $1.08-1.16, excluding non-recurring items, vs. $1.01 Capital IQ Consensus Estimate; sees Q1 revs of $5.6-6.1 bln vs. $5.31 bln Capital IQ Consensus Estimate.

Co issues upside guidance for FY13, sees EPS of $4.12-4.32, excluding non-recurring items, vs. $4.14 Capital IQ Consensus Estimate; sees FY13 revs of $23-24 bln vs. $21.73 bln Capital IQ Consensus Estimate.

Maxim Integrated Products (MXIM) announced a partnership with RadioPulse to provide ZigBee communication for smart grid solutions

NXP Semiconductors (NXPI) announced that its secure microcontrollers represent the major share in Germany's eHealthcard deployment.

ANADIGICS (ANAD) is shipping production volumes of its ALT6702, ALT6725, AWC6323 AWC6325, and AWT6624 LTE, CDMA, and WCDMA power amplifiers to Samsung Electronics (SSNLF) for the new Galaxy Note II.

Altera (ALTR) announced the availability of an updated version of its functional safety data package for automotive, industrial, medical and defense applications.

Veredus Laboratories, a majority-owned subsidiary of STMicroelectronics (STM), has launched VereMTB, a multiplexed molecular diagnostic chip capable of fast and accurate detection of Mycobacterium Tuberculosis Complex and its mutations, as well as 9 other clinically relevant non-tubercular mycobacterium.

1:06AM Amkor CEO to retire by the end of next year (AMKR) 4.42 : The co's Board has created a search committee to identify Joyce's replacement. An executive recruiting firm has been retained to conduct an outside search and also to assist with the assessment of internal candidates.

Rackspace (RAX $63.76 -2.32) reported third quarter earnings of $0.19 per share, in-line with the Capital IQ consensus of $0.19, while revenues rose 27.0% year/year to $336 million versus the $335.25 mln consensus.

08:41 am MEMC Elec shares spike 5% following better than expected earnings
MEMC Elec (WFR $2.70 +0.15) reported third quarter earnings of $0.30 per share, excluding non-recurring items, $0.42 better than the Capital IQ consensus of ($0.12), while non-GAAP rev fell 17.5% year/year to $708.9 million versus the $507.96 million consensus. For Q4: Semiconductor Materials rev down 4% to 11% QoQ. Solar energy systems non-GAAP sales volume in the range of 90 MW to 120 MW. Solar energy systems average pricing greater than $3.50/watt