Following the market opening Thursday, the Dow traded down
0.74 percent to 16,755.45 while the NASDAQ tumbled 0.96 percent
to 4,420.00. The S&P also fell, dropping 0.81 percent to
Leading and Lagging Sectors
In trading on Thursday, utilities shares dropped by just 0.35
percent. Meanwhile, top gainers in the sector included California
Water Service Group (NYSE:
), up 3.8 percent, and Exelon (NYSE:
), up 1.1 percent.
Technology sector was the top decliner in the market on
Thursday. Top losers in the sector included QuickLogic (NASDAQ:
), Glu Mobile (NASDAQ:
), and L-3 Communications Holdings (NYSE:
Kellogg Co (NYSE:
for the second quarter and cut its full-year forecast.
The Battle Creek, Michigan-based company posted quarterly
earnings of $295 million, or $0.82 per share, down 15% versus the
year-ago quarter. Excluding special items, it earned $1.02 per
Its sales declined 0.8% to $3.7 billion. However, analysts
were expecting earnings of $1.02 per share on revenue of $3.705
Equities Trading UP
Vistaprint NV (NASDAQ:
) shares shot up 25.35 percent to $47.29 after the company
reported better-than-expected quarterly results and issued a
strong FY15 outlook.
Shares of LivePerson (NASDAQ:
) got a boost, shooting up 18.31 percent to $12.02 after the
company reported upbeat quarterly results and issued a strong
Journal Communications (NYSE:
) shares were also up, gaining 23.74 percent to $10.84. The E.W.
Scripps Company (NYSE:
) and Journal Communications have
agreed to merge
their broadcasting operations and spin off their newspapers
businesses into a separate publicly held company.
Equities Trading DOWN
Shares of A10 Networks (NYSE:
) were down 15.78 percent to $10.89 on downbeat Q2 results.
On Assignment (NYSE:
) shares tumbled 22.21 percent to $27.15 after the company
reported Q2 earnings of $0.56 per share on revenue of $468.60
million. Baird downgraded the stock from Outperform to
L-3 Communications Holdings (NYSE:
) was down, falling 15.15 percent to $101.51 after the company
reported weak Q2 results and lowered its FY14 earnings guidance.
L-3 Communications also reported that it had fired 4 employees on
accounting misconduct at aerospace business.
In commodity news,
oil traded down 0.89 percent
to $99.38, while gold traded down 0.71 percent to $1,287.70.
Silver traded down 0.37 percent Thursday to $20.52, while
copper rose 0.03 percent to $3.24.
today. The eurozone's STOXX 600 fell 0.98 percent, the Spanish
Ibex Index tumbled 1.85 percent, while Italy's FTSE MIB Index
declined 1.33 percent. Meanwhile, the German DAX declined 1.49
percent and the French CAC 40 dropped 1.11 percent while UK
shares fell 0.34 percent.
US jobless claims increased by 23,000 to 302,000 in the week
ended July 26. However, economists were estimating claims to
reach 308,000 in the week.
The Chicago PMI declined to 52.6 in July, versus 62.6 in June.
Economists were expecting a reading of 63.5.
The Treasury is set to auction 3-and 6-month bills.
Data on farm prices for July will be released at 3:00 p.m.
Data on money supply will be released at 4:30 p.m. ET.
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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