Following the market opening Friday, the Dow traded down 0.08
percent to 17,066.27 while the NASDAQ surged 0.11 percent to
4,562.74. The S&P also rose, gaining 0.05 percent to
Leading and Lagging Sectors
Technology shares rose by 0.22 percent on Friday. Meanwhile,
top gainers in the sector included The9 Limited (NASDAQ:
), up 34.8 percent, and Avago Technologies (NASDAQ:
), up 8.3 percent.
In trading on Friday, cyclical consumer goods & services
shares were relative laggards, down on the day by about 0.20
percent. Top decliners in the sector included Kandi Technolgies
), down 8.8 percent, and Pacific Sunwear of California (NASDAQ:
), off 6 percent.
Big Lots (NYSE:
fiscal second-quarter earnings and raised its FY14 earnings
The Columbus, Ohio-based company posted quarterly earnings of
$19.9 million, or $0.36 per share, compared to $18.1 million, or
$0.31 per share, in the year-ago period. Its profit from
continuing operations came in at $0.31 per share. The company had
projected earnings of $0.24 to $0.30 per share.
Its net sales gained 1.2% to $1.2 billion. However, analysts
were expecting earnings of $0.30 per share on revenue of $1.2
Equities Trading UP
Criteo SA (NASDAQ:
) shares shot up 19.03 percent to $36.48 following a Les Echos
report that Publicis has restarted talks to buy the company.
Shares of Veeva Systems (NYSE:
) got a boost, shooting up 15.63 percent to $28.86 after the
company reported better-than-expected second-quarter results and
issued a strong third-quarter outlook.
) shares were also up, gaining 15.57 percent to $52.34 after the
company reported upbeat results for the fiscal second quarter and
lifted its forecast for the year.
Equities Trading DOWN
Shares of Kandi Technologies Group (NASDAQ:
) were down 9.60 percent to $17.29 after the company announced
that it has entered into an agreement for registered direct
placement of $71 million of common stock and warrants.
Big Lots (NYSE:
) shares tumbled 2.08 percent to $46.22 on Q2 results. Big Lots
reported better-than-expected fiscal second-quarter earnings and
raised its FY14 earnings forecast. The company also announced a
new $125 million share-repurchase program.
Pacific Sunwear of California (NASDAQ:
) was down, falling 6.09 percent to $2.16 after the company
posted in-line results for the second quarter and issued a weak
In commodity news,
oil traded up 0.72 percent
to $95.23, while gold traded down 0.15 percent to $1,288.40.
Silver traded down 0.07 percent Friday to $19.60, while copper
rose 0.37 percent to $3.16.
today. The eurozone's STOXX 600 dropped 0.02 percent, the Spanish
Ibex Index slipped 0.23 percent, while Italy's FTSE MIB Index
gained 0.41 percent. Meanwhile, the German DAX fell 0.17 percent
and the French CAC 40 rose 0.01 percent while UK shares gained
US consumer spending dropped 0.1% in July, while personal
income rose 0.2% in July. However, economists were expecting a
0.2% rise in spending and 0.3% gain in income.
The Chicago PMI surged to 64.30 in August, versus a prior
reading of 52.60. However, economists were expecting a reading of
The final reading of the Reuter's/University of Michigan's
consumer sentiment index rose to 82.50 in August, versus a prior
reading of 79.20. However, economists were expecting a reading of
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
Free Trading Education -
Check out the free events taking place on Marketfy
this week. Spaces are limited. Sign up today.