Midway through trading Thursday, the Dow traded down 0.65
percent to 16,875.19 while the NASDAQ tumbled 0.71 percent to
4,387.76. The S&P also fell, dropping 0.58 percent to
Leading and Lagging Sectors
In trading on Thursday, utilities shares were relative
leaders, up on the day by about 0.32 percent. Top gainers in the
sector included Korea Electric Power (NYSE:
), Companhia Energética (NYSE:
), and Pampa Energia SA (NYSE:
Energy shares dropped around 1.04 percent in trading on
Thursday. Top decliners in the sector included CGG (NYSE:
), down 7.5 percent, and Kosmos Energy (NYSE:
), off 5.7 percent.
Family Dollar (NYSE:
) reported a drop in its
Family Dollar's quarterly net earnings fell to $81.1 million,
or $0.71 per share, versus $120.9 million, or $1.05 per share in
the year-ago quarter. Excluding one-time items, it earned $0.85
Its revenue increased 3.3% to $2.66 billion. However, analysts
were expecting earnings of $0.89 per share on revenue of $2.62
billion. Family Dollar's comparable store sales dropped 1.8% for
the 13-week period.
Equities Trading UP
) shares shot up 15.39 percent to $31.41 after the company
announced a $174 million contract.
Shares of Zumiez (NASDAQ:
) got a boost, shooting up 7.61 percent to $30.13 as the company
boosted its outlook
and reported strong results for June. D.A. Davidson & Co
analyst Andrew Burns reiterated a Buy rating on Zumiez and raised
the price target from $35.00 to $36.00.
United Continental Holdings (NYSE:
) shares were also up, gaining 8.31 percent to $43.40 after the
company said its
consolidated passenger revenue
per available seat mile increased more than forecast in the
Equities Trading DOWN
Shares of Sarepta Therapeutics (NASDAQ:
) were down 16.80 percent to $21.54 after the company offered
long-term outcomes through 144 weeks from Phase IIb study of
eteplirsen in DMD.
Lumber Liquidators Holdings (NYSE:
) shares tumbled 22.34 percent to $54.69 after the company
lowered its earnings
forecast for the year. Jefferies downgraded the stock from Buy to
Hold and cut the price target from $115.00 to $57.00.
Tractor Supply Company (NASDAQ:
) was down, falling 2.66 percent to $59.75 after the company
issued a second-quarter profit warning. The company projected
earnings of $0.94 to $0.95 per share on sales of $1.58
In commodity news,
oil traded down 0.27 percent
to $102.01, while gold traded up 1.09 percent to $1,338.70.
Silver traded up 1.81 percent Thursday to $21.45, while copper
rose 0.74 percent to $3.27.
European shares today. The eurozone's STOXX 600 fell 0.88
percent, the Spanish Ibex Index tumbled 1.94 percent, while
Italy's FTSE MIB Index dipped 1.62 percent. Meanwhile, the German
DAX slipped 1.31 percent and the French CAC 40 declined 1.29
percent while UK shares tumbled 0.48 percent.
Initial jobless claims fell by 11,000 to 304,000 in the week
ended July 5, versus an unrevised 315,000 in the week ended June
28. However, economists were projecting claims to rise to 320,000
in the week.
US wholesale inventories rose 0.5% in May, while wholesale
sales increased 0.7%.
The Bloomberg Consumer Comfort Index surged to 37.6 in the
week ended July 6, versus a reading of 36.4 in the earlier
Supplies of natural gas rose 93 billion cubic feet for the
week ended July 4, the US Energy Information Administration said.
However, analysts were expecting a rise of 90 billion cubic feet
to 94 billion cubic feet.
Data on money supply will be released at 4:30 p.m. ET.
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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