Toward the end of trading Friday, the Dow traded flat to
16,447.73 while the NASDAQ gained 0.02 percent to 4,069.98. The
S&P also rose, gaining 0.06 percent to 1,871.19.
Leading and Lagging Sectors In trading on Friday,
telecommunications services shares were relative leaders, up on
the day by about 0.83 percent. Meanwhile, top gainers in the
sector included NQ Mobile (NYSE:
), up 5.2 percent, and PT Telekomunikasi Indonesia Tbk (NYSE:
), up 5.3 percent. Basic materials shares fell about 0.33 percent
in trading on Friday.
Top losers in the sector included Cliffs Natural Resources
), down 4 percent, and Thompson Creek Metals Company (NYSE:
), off 3 percent.
Top Headline On Thursday, J.C. Penney (NYSE:
first-quarter results. J.C. Penney's same-store sales also surged
6.2% in the quarter. J.C. Penney posted a quarterly loss of $352
million, or $1.15 per share. However, analysts were expecting a
loss of $1.25 per share. Its revenue climbed to $2.8 billion,
beating analysts' estimates of $2.71 billion.
Equities Trading UP Rackspace Hosting (NYSE:
) shares shot up 18.22 percent to $36.27 on confirmation of
approach by potential buyers and partners.
Shares of Dillard's NYSE: DDS) were up as well, rising 14.29
percent to $110.40 after the company beat on both top and bottom
lines in its report following Thursday's close.
) shares were also up, gaining 13.53 percent to $69.73 as the
reported upbeat first-quarter
results. Nordstrom posted a quarterly profit of $0.72 per share
on revenue of $2.93 billion. However, analysts were expecting a
profit of $0.68 per share on revenue of $2.86 billion. Analysts
at Credit Suisse upgraded Nordstrom from Neutral to
Equities Trading DOWN Shares of World Wrestling Entertainment
) were 42.50 percent to $11.46 following announcement of
on Thursday. Benchmark downgraded WWE from Buy to Hold.
Vonage Holdings (NYSE:
) was down as well, dropping 6.06 percent to $3.48 despite
seemingly little news.
Canadian Solar (NASDAQ:
) was down, falling 12.20 percent to $22.23 after the company
reported weaker-than-expected Q1 earnings and issued a weak
Commodities In commodity news,
oil traded up 0.52 percent
to $102.03, while gold traded down 0.05 percent to $1,292.70.
Silver traded down 0.98 percent Friday to $19.31, while copper
fell 0.02 percent to $3.14.
Eurozone European shares
The eurozone's STOXX 600 gained 0.14 percent, the Spanish Ibex
Index rose 1.10 percent, while Italy's FTSE MIB Index surged 1.12
Meanwhile, the German DAX declined 0.28 percent and the French
CAC 40 tumbled 0.99 percent while UK shares rose 0.16
Economics US housing starts surged 13.2% to an annual rate of
1.07 million in April, versus a revised rate of 947,000 in March.
However, economists were expecting a rate of 980,000 in
The preliminary reading of Reuter's/University of Michigan's
consumer sentiment index fell to 81.80 in May, versus a prior
reading of 84.10. However, economists were expecting a reading of
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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