Following the market opening Wednesday, the Dow traded up 0.08
percent to 16,970.28 while the NASDAQ surged 0.16 percent to
4,465.61. The S&P also rose, gaining 0.07 percent to
Leading and Lagging Sectors
Basic materials sector was the top gainer in Wednesday's
morning trading. Top gainers in the sector included A. Schulman
), up 3 percent, and Aluminum Corporation Of China (NYSE:
), up 2.5 percent.
In trading on Wednesday, utilities shares were relative
laggards, down on the day by about 0.57 percent. Top losers in
the sector included FirstEnergy (NYSE:
), down 2.3 percent, and Exelon (NYSE:
), off 1.9 percent.
Constellation Brands (NYSE:
for its fiscal first quarter and lifted its FY15 forecast
Constellation Brands posted its quarterly profit of $207
million, or $1.03 per share, up from $52.9 million, or $0.27 per
share, in the year-ago period. Its adjusted earnings came in at
$1.07 per share in the quarter.
Its sales surged to $1.526 billion. However, analysts were
expecting earnings of $0.93 per share on sales of $1.41
Equities Trading UP
) shares shot up 11.54 percent to $48.53 on rumors the company
seek a buyer
Shares of The Greenbrier Companies (NYSE:
) got a boost, shooting up 9.27 percent to $63.06 after the
reported upbeat third-quarter
earnings and lifted its full-year outlook.
Rackspace Hosting (NYSE:
) shares were also up, gaining 6.07 percent to $35.80 after
that Rackspace may be considering taking the company private,
according to multiple sources.
Equities Trading DOWN
Shares of CalAmp (NASDAQ:
) were down 12.52 percent to $19.30 after the company issued a
weak forecast for the second quarter. It expected Q2 earnings of
$0.17 to $0.21 per share on revenue of $57 million to $61
million. Analysts estimated earnings of $0.22 per share on
revenue of $62.2 million.
Delta Air Lines (NYSE:
) shares tumbled 5.48 percent to $38.10. Delta reported June
PRASM growth of 4.5%. It expects Q2 operating margin of 14% to
16% and operating cash flow of $2 billion.
) was down, falling 10.21 percent to $43.82 after surging for
In commodity news,
oil traded down 0.45 percent
to $104.87, while gold traded up 0.02 percent to $1,326.90.
Silver traded down 0.13 percent Wednesday to $21.09, while
copper rose 0.75 percent to $3.23.
European shares today.
The eurozone's STOXX 600 rose 0.33 percent, the Spanish Ibex
Index gained 0.04 percent, while Italy's FTSE MIB Index surged
Meanwhile, the German DAX climbed 0.13 percent and the French
CAC 40 fell 0.10 percent while UK shares climbed 0.31
The MBA reported that its index of mortgage application
activity dropped 0.20% in the week ended June 27.
Private-sector employers added 281,000 jobs in June, versus a
179,000 gain in May, according to Automatic Data Processing.
However, economists were projecting an addition of 205,000
US factory orders declined 0.50% in May, versus economists'
expectations for a 0.30% drop.
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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