Following the market opening Friday, the Dow traded down 0.14
percent to 16,540.45 while the NASDAQ declined 0.11 percent to
4,364.96. The S&P also fell, dropping 0.01 percent to
Leading and Lagging Sectors
Non-cyclical consumer goods & services shares rose by 0.58
percent on Friday. Top gainers in the sector included Strayer
), up 6.6 percent, and The Procter & Gamble Company (NYSE:
), up 3.6 percent.
In trading on Friday, energy shares tumbled by 0.07 percent.
Top losers in the sector included CIRCOR International (NYSE:
), Bill Barrett (NYSE:
), and SunPower (NASDAQ:
Procter & Gamble (NYSE:
fiscal fourth-quarter profit.
The Cincinnati, Ohio-based company posted a quarterly profit
of $2.58 billion, or $0.89 per share, versus a year-ago profit of
$1.88 billion, or $0.64 per share. Its adjusted earnings rose 20%
to $0.95 per share.
Its sales declined 1% to $20.2 billion, while organic sales
rose 2% in the quarter. However, analysts were expecting earnings
of $0.91 per share on revenue of $20.48 billion.
Equities Trading UP
Bally Technologies (NYSE:
) shares shot up 29.77 percent to $78.08 after the company agreed
to be acquired by Scientific Games (NASDAQ:
) for $83.30 per share in cash.
Shares of LinkedIn (NYSE:
) got a boost, shooting up 9.89 percent to $198.51 after the
second-quarter results and issued a strong outlook for the
) shares were also up, gaining 5.16 percent to $83.52 after the
for the second quarter. Analysts at Raymond James upgraded
Expedia from Market Perform to Outperform.
Equities Trading DOWN
Shares of Web.com Group (NASDAQ:
) were down 24.30 percent to $20.10 after the company reported Q2
earnings of $0.62 per share on revenue of $138.20 million and
issued a weak FY14 forecast. The company also announced the
acquisition of Scoot. SunTrust Robinson Humphrey downgraded
Web.com Group from Buy to Neutral and lowered the price target
from $34.00 to $24.00.
) shares tumbled 8.48 percent to $43.90 despite
better-than-expected Q2 results. Dougherty & Company
downgraded GoPro from Buy to Neutral, according to Bloomberg.
) was down, falling 4.63 percent to $35.03 after the company
issued a cautious outlook. However, the company reported
better-than-expected Q2 earnings.
In commodity news,
oil traded down 0.42 percent
to $97.76, while gold traded up 0.97 percent to $1,295.20.
Silver traded up 0.65 percent Friday to $20.55, while copper
rose 0.20 percent to $3.24.
today. The eurozone's STOXX 600 fell 1.06 percent, the Spanish
Ibex Index tumbled 1.59 percent, while Italy's FTSE MIB Index
declined 0.14 percent. Meanwhile, the German DAX declined 1.73
percent and the French CAC 40 dropped 0.78 percent while UK
shares fell 1 percent.
In July, the US economy added 209,000 nonfarm jobs, while the
unemployment rate rose to 6.2% versus 6.1%. However, economists
were estimating an addition of 235,000 nonfarm jobs in the
US consumer spending increased 0.4% in June, while personal
income surged 0.4%. However, economists were expecting a 0.5%
rise in spending and a 0.4% increase in personal income.
The final reading of Markit PMI manufacturing index declined
to 55.8 in July, versus the flash estimate of 56.3. However,
economists were expecting a reading of 56.5.
The final reading of Reuter's/University of Michigan's
consumer sentiment index rose to 81.80 in July, versus a prior
reading of 81.30. However, economists were expecting a reading of
The ISM manufacturing composite index increased to 57.1 in
July, from 55.3 in June. Economists projected a reading of 56.0
US construction spending declined 1.80% in June, versus
economists' expectations for a 0.50% gain.
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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