Following the market opening Tuesday, the Dow traded up 0.37
percent to 17,045.40 while the NASDAQ surged 0.52 percent to
4,467.96. The S&P also rose, gaining 0.25 percent to
Leading and Lagging Sectors
In trading on Tuesday, telecommunications services shares were
relative leaders, up on the day by about 1.27 percent. Meanwhile,
top gainers in the sector included Frontier Communications
), up 16.6 percent, and Consolidated Communications Holdings
), up 7 percent.
Utilities shares dropped by 0.45 percent in today's trading.
Top decliners in the sector included Companhia Energética de
Minas Gerais (NYSE:
), down 2.7 percent, and CPFL Energia S.A. (NYSE:
), off 2 percent.
Merck & Co (NYSE:
The Whitehouse Station, New Jersey-based company posted a
quarterly profit of $2 billion, or $0.68 per share, compared to
$906 million, or $0.30 per share, in the year-ago period.
Excluding non-recurring items, it earned $0.85 per share.
Its total sales fell 1% to $10.93 billion. However, analysts
were expecting earnings of $0.81 per share on revenue of $10.59
Equities Trading UP
Windstream Holdings (NASDAQ:
) shares shot up 22.17 percent to $12.87 after the company
announced its plans to spin off assets into publicly traded
Shares of Cognex (NASDAQ:
) got a boost, shooting up 16.63 percent to $44.08 after the
company reported better-than-expected quarterly results and
issued a strong Q3 revenue outlook.
MiMedx Group (NASDAQ:
) shares were also up, gaining 10.03 percent to $6.91 after the
company reported Q2 earnings of $0.00 per share on revenue of
$25.60 million and raised its FY14 sales outlook.
Equities Trading DOWN
Shares of Impax Laboratories (NASDAQ:
) were down 15.77 percent to $23.61 after the FDA issued a Form
483 with 10 inspectional observations for Impax Taiwan plant.
) shares tumbled 11.08 percent to $60.01 after the company
reported downbeat second-quarter results and issued a weak
forecast for the third quarter. However, the company lifted its
profit outlook for the year.
) was down, falling 8.80 percent to $20.11 after the company
In commodity news,
oil traded down 0.99 percent
to $100.66, while gold traded down 0.17 percent to $1,303.60.
Silver traded up 0.21 percent Tuesday to $20.61, while copper
fell 0.40 percent to $3.23.
today. The eurozone's STOXX 600 surged 0.43 percent, the Spanish
Ibex Index gained 0.41 percent, while Italy's FTSE MIB Index
climbed 0.90 percent. Meanwhile, the German DAX jumped 0.62
percent and the French CAC 40 gained 0.64 percent while UK shares
rose 0.49 percent.
The ICSC-Goldman same store sales index gained 0.2% in the
week ended Saturday versus the earlier week.
The Johnson Redbook same-store sales index declined 0.6% in
the first three weeks of July versus June.
The FOMC will begin its two-day policy meeting today.
US house prices increased 1.1% in May, according to the
Case-Shiller index. On a seasonally adjusted basis, house prices
slipped 0.3%. However, house prices increased 9.3% y/y in May,
versus a 10.8% rise in April.
The Conference Board's consumer confidence index rose to 90.90
in July, versus a prior reading of 85.20. However, economists
were expecting a reading of 85.40.
The Treasury is set to auction 4-week bills and 5-year
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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