Heading into the final hour before the close Friday, the Dow
reversed losses and is trading up 0.12 percent to 16,934.83 while
the NASDAQ gained 0.43 percent to 4,415.18. The S&P also
reversed losses to trade up 0.12 percent to 1,966.96.
Leading and Lagging Sectors
Telecommunications services shares gained around 0.25 percent
in today's trading. Top gainers in the sector included NQ Mobile
), Allot Communications (NASDAQ:
), and SK Telecom Co (NYSE:
In trading on Friday, energy shares were relative laggards,
down on the day by about 0.40 percent. Top losers in the sector
included Callon Petroleum Company (NYSE:
), down 5.67 percent, and Tesco (NASDAQ:
), off 3.99 percent.
Wells Fargo & Co (NYSE:
) reported a gain in its
Wells Fargo's quarterly profit surged to $5.7 billion, or
$1.01 per share, from a year-ago profit of $5.5 billion, or $0.98
Its revenue declined 3.4% to $21.1 billion from $21.4 billion.
However, analysts were expecting a profit of $1.01 per share on
revenue of $20.84 billion.
Equities Trading UP
) shares shot up 4.40 percent to $24.18. Deutsche Bank upgraded
Channel Advisor from Hold to Buy. ChannelAdvisor is expected to
release its Q2 financial results on August 4, 2014.
Shares of Lorillard (NYSE:
) got a boost, shooting up 4.31 percent to $65.81. Lorillard
confirmed that Lorillard and Reynolds American (NYSE:
engaged in discussions
regarding RAI's potential acquisition of Lorillard. Cowen &
Company initiated coverage on Lorillard with a Underperform
) shares were also up, gaining 5.27 percent to $345.21.
June same-store sales
grew 34 percent, according to the e-commerce market research shop
Equities Trading DOWN
Shares of Kofax (NASDAQ:
) were down 10.89 percent to $7.20 after the company reported
selected preliminary unaudited results for FY14. Kofax expected
FY14 sales of $295.0 million to $298.0 million.
) shares tumbled 11.08 percent to $25.83 after the company issued
a downbeat guidance for the second quarter. The company expected
adjusted earnings of $0.36 to $0.38 per share on revenue of
around $773 million.
MGIC Investment (NYSE:
) was down, falling 10.82 percent to $8.24 following the FHFA
proposal. The company released monthly operating statistics for
In commodity news,
oil traded down 2.40 percent
to $100.46, while gold traded down 0.13 percent to $1,337.50.
Silver traded down 0.20 percent Friday to $21.47, while copper
gained 0.08 percent to $3.27.
were mostly higher
The eurozone's STOXX 600 rose 0.14 percent, the Spanish Ibex
Index surged 0.05 percent, while Italy's FTSE MIB Index climbed
Meanwhile, the German DAX rose 0.07 percent and the French CAC
40 climbed 0.35 percent while UK shares gained 0.07 percent.
The U.S. Treasury monthly budget report for June was released
at 2:00 p.m. ET and showed Total Receipts were $324.0B with Total
Outlays at $253.0B and a Surplus of $71.0B. Full Report Link
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