Entering the final hour of trading for the week this Friday,
the Dow traded down 0.78 percent to 16,950.29 while the NASDAQ
tumbled 0.56 percent to 4,446.98. The S&P also fell,
dropping 0.50 percent to 1,978.04.
Leading and Lagging Sectors
Basic materials shares gained 0.10 percent in trading on
Friday. Meanwhile, top gainers in the sector included DRDGOLD
), up 8.2 percent, and LyondellBasell Industries NV (NYSE:
), up 4.79 percent.
In trading on Friday, technology shares were relative
laggards, down on the day by about 0.80 percent. Top decliners in
the sector included Silicon Laboratories (NASDAQ:
), down 15.32 percent, and Informatica (NASDAQ:
), off 11.91 percent.
second-quarter earnings and raised the lower end of its full-year
The Norwalk, Connecticut-based company reported a quarterly
profit of $266 million, versus a year-ago profit of $271 million.
Its per-share earnings climbed to $0.22 from $0.21 per share. The
year-ago quarter results included a loss of $0.02 per share
related to discontinued operations. Excluding certain items, it
earned $0.27 per share in the recent quarter.
Its revenue declined 1.8% to $5.29 billion from $5.39 billion.
However, analysts were expecting earnings of $0.26 per share on
revenue of $5.31 billion.
Equities Trading UP
Acacia Research (NASDAQ:
) shares shot up 15.69 percent to $17.33 after the company
reported upbeat Q2 results and approved a $0.125 per share
Shares of Qlik Technologies (NASDAQ:
) got a boost, shooting up 14.28 percent to $26.73 after the
company reported better-than-expected quarterly results.
The Royal Bank of Scotland Group plc (NYSE:
) shares were also up, gaining 10.82 percent to $12.39 on strong
Equities Trading DOWN
Shares of Pandora Media (NYSE:
) were down 11.93 percent to $25.29 after the company announced
slower than expected
growth metrics. Pandora's earnings beat the official analyst
estimate by $0.01 per share at $0.04 per share. The company also
raised its full-year forecast.
) shares tumbled 10.16 percent to $322.19 after the company
loss for the second quarter. For the third quarter, Amazon
projected sales of $19.7 billion to $21.5 billion. Analysts at B
Riley downgraded Amazon from Buy to Neutral and lowered the
target price from $425 to $350.
) was down, falling 11.51 percent to $30.91 after the company
reported quarterly results and lowered its FY14 earnings
forecast. Baird downgraded Informatica from Outperform to Neutral
and lowered the price target from $45.00 to $36.00.
In commodity news,
oil traded down 0.52 percent
to $101.54, while gold traded up 0.98 percent to $1,304.10.
Silver traded up 0.68 percent Friday to $20.59, while copper
fell 0.73 percent to $3.24.
were mostly lower
today. The eurozone's STOXX 600 declined 0.83 percent, the
Spanish IBEX Index climbed 0.25 percent, while Italy's FTSE MIB
Index fell 0.90 percent. Meanwhile, the German DAX declined 1.53
percent and the French CAC 40 tumbled 1.82 percent while UK
shares fell 0.43 percent.
Orders for durable goods increased 0.7% in June, versus
economists' expectations for a 0.5% gain.
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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