Toward the end of trading Tuesday, the Dow traded flat at
16,245.16 while the NASDAQ gained 0.70 percent to 4,108.50. The
S&P also rose, surging 0.26 percent to 1,849.00.
Leading and Lagging Sectors In trading on Tuesday, basic
materials shares were relative leaders, up on the day by about
1.23 percent. Among the leading sector stocks, gains came from
Myers Industries (NYSE:
), Teck Resources (NYSE:
), Cliffs Natural Resources (NYSE:
) and Seabridge Gold, (NYSE:
). Healthcare shares gained by just 0.02 percent in the US market
today. Top losers in the sector included The Spectranetics
), off 10.5 percent, and MEI Pharma (NASDAQ:
), down 5.9 percent.
Top Headline On Monday, A. Schulman (NASDAQ:
) reported an upbeat fiscal second-quarter profit and lifted its
full-year earnings forecast. Its quarterly net income dropped to
$6.8 million, or $0.23 per share, versus $11.8 million, or $0.40
per share, in the year-ago period. Its adjusted profit from
continuing operations came in at $0.39 per share, beating
analysts' estimates of $0.33 per share. A. Schulman's total
revenue climbed 13% to $588.5 million.The company expected
full-year earnings of $2.23 to $2.28 per share, versus analysts'
estimates of $2.16 per share.
Equities Trading UP Alkermes plc (NASDAQ:
) shares shot up 2.68 percent to $42.20 on release of positive
from pivotal Phase 3 study of aripiprazole lauroxil.
BofI Holding (NASDAQ:
) shares climbed 10.12% to $80.87. BofI Holding is expected to
announce its Q3 results on May 6, 2014.
Alpha Natural Resources (NYSE:
) was also on the rise, gaining 7.69 percent to $4.89 after the
company on widespread sector strength during Tuesday's
Equities Trading DOWN
Shares of Gigamon (NYSE:
) were down 32.23 percent to $17.75 after the company
lowered its revenue outlook
for the latest quarter. Gigamon projected revenue of $31 million
to $31.5 million, versus its earlier forecast of $34 million to
The Spectranetics (NASDAQ:
) shares tumbled 11.07 percent to $23.22 after the company
lowered its FY14 earnings forecast and announced preliminary Q1
Rovi Corporation (NASDAQ:
) dropped as well, falling 12.85 percent to $20.27 after the
company lost a patent fight to Amazon in an Arizona appellate
Commodities In commodity news,
oil traded up 2.11 percent
to $102.56, while gold traded up 0.82 percent to $1,309.00.
Silver traded up 0.71 percent Tuesday to $20.02, while copper
rose 0.96 percent to $3.05.
Eurozone European shares
The Spanish Ibex Index fell 1.19 percent, while Italy's FTSE
MIB Index dropped 1.46 percent.
Meanwhile, the German DAX tumbled 0.21 percent and the French
CAC 40 slipped 0.25 percent while U.K. shares declined 0.49
Economics The NFIB Small Business Optimism Index rose to 93.40
in March, versus a prior reading of 91.40. However, economists
were expecting a reading of 92.50.
The ICSC-Goldman same-store sales index gained 1.5% in the
week ended Saturday versus the earlier week.
The Johnson Redbook Retail Sales Index declined 0.5% for the
five weeks of March versus February.
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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