Following the market opening Tuesday, the Dow traded up 0.21
percent to 17,112.25 while the NASDAQ surged 0.07 percent to
4,560.35. The S&P also rose, gaining 0.15 percent to
Leading and Lagging Sectors
Tuesday morning, the energy sector proved to be a source of
strength for the market. Leading the sector was strength from
Forbes Energy Services (
) and Rex Energy (NASDAQ:
In trading on Tuesday, telecommunications services shares were
relative laggards, down on the day by about 0.07 percent.
Meanwhile, top decliners in the sector included Internet
Initiative Japan (NASDAQ:
), down 2.2 percent, and Telecom Italia S.p.A. (NYSE:
), off 1.1 percent.
Best Buy Co (NYSE:
) reported better-than-expected earnings for the second quarter.
However, the company's
The Richfield, Minnesota-based company posted quarterly
adjusted earnings per share, excluding certain items, of $0.44
versus $0.32 in the year-ago period. However, analysts were
expecting earnings of $0.31 per share.
Its total sales dropped to $8.9 billion versus $9.27 billion,
versus analysts' estimates of $8.99 billion.
Equities Trading UP
Kite Pharma (NASDAQ:
) shares shot up 16.96 percent to $26.08 on positive
non-Hodgkin's lymphoma trial results using KTE-C19.
Shares of DSW (NYSE:
) got a boost, shooting up 10.08 percent to $31.23 after the
company reported upbeat fiscal second-quarter results.
Tim Hortons (NYSE:
) shares were also up, gaining 9.29 percent to $81.66 after
Burger King (NYSE:
) agreed to buy Tim Hortons for around $11 billion.
Equities Trading DOWN
Shares of iKang Healthcare Group (NASDAQ:
) were down 7.88 percent to $20.87 after the company reported
downbeat quarterly earnings.
Trina Solar (NYSE:
) shares tumbled 7.18 percent to $12.41 after the company
reported downbeat sales for the second quarter.
Sanderson Farms (NASDAQ:
) was down, falling 5.32 percent to $90.06 after the company
reported weaker-than-expected profit for its fiscal third
In commodity news,
oil traded up 0.66 percent
to $93.97, while gold traded up 0.80 percent to $1,289.10.
Silver traded up 0.92 percent Tuesday to $19.61, while copper
fell 0.37 percent to $3.23.
today. The eurozone's STOXX 600 gained 0.37 percent, the Spanish
Ibex Index climbed 0.73 percent, while Italy's FTSE MIB Index
surged 0.49 percent. Meanwhile, the German DAX rose 0.25 percent
and the French CAC 40 surged 0.63 percent while UK shares gained
The ICSC-Goldman Store Sales Index gained 0.6% in the week
ended Saturday versus the earlier week.
US durable goods orders rose 22.6% in July, versus economists'
expectations for a 12.6% gain.
The Johnson Redbook Retail Sales Index rose 0.5% in the first
three weeks of August versus July.
The FHFA house price index for June rose 0.4% in June.
The S&P/Case-Shiller home price index gained 1% in June,
versus a 1.2% gain in May.
The Conference Board's consumer confidence index rose to 92.40
in August, versus a prior reading of 90.90. However, economists
were expecting a reading of 89.00.
The Richmond Fed manufacturing index gained to 12.00 in
August, versus a prior reading of 7.00. However, economists were
expecting a reading of 6.00.
The Treasury is set to auction 4-week bills and 2-year
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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