Stocks closed with respectable gains on Wednesday, fueled by
upbeat earnings from Alcoa (
) and Federal Open Market Committee minutes that steered clear of
mentioning any imminent rate hikes. The FOMC said it will end
quantitative easing in October and that economic growth can be
sustained without any intervention from monetary policy.
Here's where the U.S. markets stood at the end-of-day:
Dow Jones Industrial Average up 78.99 (+0.47%) to 16,985.61
S&P 500 up 9.12 (+0.46%) to 1,972.83
Nasdaq Composite Index up 27.57 (+0.63%) to 4,419.03
Hang Seng Index down 1.55%
Shanghai China Composite Index down 1.23%
FTSE 100 Index down 0.30%
(+) BMA, Climbs to three-year high ahead of mediation talks are
scheduled to resume Friday to resolve a dispute between the
Argentine government and a handful of hedge funds seeking full
payment on defaulted bonds.
(+) RAI, Climbs to all-time high following reports British
American Tobacco (
) was near a deal to acquire the remaining 58% stake in the tobacco
firm it already doesn't own, possibly trumping talk RAI is working
on a merger with U.S. rival Lorillard (
(+) ACST, Completes Phase II testing of its CaPre krill
oil-based cholesterol drug candidate in patients with mild to
severe hypertriglyceridemia. Also wraps trial measuring
bioavailability in healthy volunteers taking single and multiple
(-) IPCI, Reduced to Hold from Buy at Maxim after the drug-maker
this week missed Street view with Q2 revenue. Maxim also raised
concerns IPCI's abuse-deterent technology no longer is superior to
rivals. Price target cut by $4 to $3 a share.
(-) TCS, Adjusted Q1 net loss of $0.07 per share misses Street
view by $0.01. Net sales rise 8.6% to $173.4 mln, lagging estimates
by $810,000. FY14 adjusted EPS forecast trails consensus by at
least $0.03. Barclays, Credit Suisse cut price targets.
(-) GIMO, Lowers Q2 outlook by as much as $7 mln from prior
guidance, now forecasting between $34.5 mln to $35 mln in revenue,
trailing Wall Street estimates by at least $5.2 mln.
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