Midway through trading Wednesday, the Dow traded down 0.18
percent to 17,082.38 while the NASDAQ surged 0.41 percent to
4,474.24. The S&P also rose, gaining 0.19 percent to
Leading and Lagging Sectors
In trading on Wednesday, healthcare shares were relative
leaders, up on the day by about 0.42 percent. Meanwhile, top
gainers in the sector included Array BioPharma (NASDAQ:
), up 17.8 percent, and Oncothyreon (NASDAQ:
), up 18.9 percent.
Industrials shares fell by 0.09 percent in today's trading.
Top losers in the sector included Layne Christensen Company
), down 6.6 percent, and Knightsbridge Tankers (NASDAQ:
), off 5.2 percent.
second-quarter results and raised its full-year earnings
The Purchase, New York-based company posted a quarterly profit
of $1.978 billion, or $1.29 per share, versus a year-ago profit
of $2.010 billion, or $1.28 per share. Its adjusted earnings came
in at $1.32 per share.
Its revenue gained 0.5% to $16.894 billion, while organic
revenue rose 3.6%. However, analysts were expecting earnings of
$1.23 per share on revenue of $16.8 billion.
Equities Trading UP
Puma Biotechnology (NYSE:
) shares shot up 287.57 percent to $228.78 after the company
released positive top line results from its Phase 3 PB272 trial
in initial treatment for breast cancer.
Shares of Intuitive Surgical (NASDAQ:
) got a boost, shooting up 14.46 percent to $448.85 after the
Q2 earnings. Analysts at Raymond James upgraded Intuitive
Surgical from Market Perform to Outperform.
Biogen Idec (NASDAQ:
) shares were also up, gaining 11.53 percent to $338.68 after the
upbeat Q2 results
and lifted its FY14 forecast.
Equities Trading DOWN
Shares of Xilinx (NASDAQ:
) were down 14.60 percent to $41.12 after the company reported
downbeat Q1 revenue and issued a weak Q2 revenue forecast. BMO
Capital downgraded Xilinx from Outperform to Market Perform and
lowered the price target from $60.00 to $42.00.
) shares tumbled 12.27 percent to $37.48 after the company
reported that its board has ended the review of strategic
alternatives. The company reported downbeat Q2 results and
lowered its full-year outlook. The company's CEO Joe Corasanti
announced that he will be stepping down with former Stryker
interim CEO and CFO, Curt Hartman, taking over his position.
Juniper Networks (NYSE:
) was down, falling 10.27 percent to $22.27 after the company
issued a downbeat Q3 forecast. Bank of America downgraded Juniper
Networks from Outperform to Neutral and lowered the price target
from $34.00 to $28.00.
In commodity news,
oil traded up 0.55 percent
to $102.95, while gold traded up 0.06 percent to $1,308.80.
Silver traded up 0.03 percent Wednesday to $21.02, while
copper rose 0.02 percent to $3.21.
were mostly higher
today. The eurozone's STOXX 600 jumped 0.12 percent, the Spanish
Ibex Index climbed 0.10 percent, while Italy's FTSE MIB Index
fell 0.20 percent. Meanwhile, the German DAX gained 0.20 percent
and the French CAC 40 climbed 0.16 percent while UK shares rose
The MBA reported that its index of mortgage application
activity rose 2.40% in the week ended July 18.
Crude inventories slipped 4 million barrels in the week ended
July 18, the Energy Information Administration reported. However,
analysts were projecting a drop of 2.6 million barrels. Gasoline
supplies rose 3.4 million barrels in the week, while distillate
supplies surged 1.6 million barrels.
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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