Closing in on the final hour of trading for the week,
Friday the Dow traded up 0.17 percent to 16,763.11 while the
NASDAQ gained 0.27 percent to 4,309.06. The S&P also fell,
dropping 0.25 percent to 1,34.85.
Leading and Lagging Sectors
In trading on Friday, technology shares were relative leaders,
up on the day by about 0.63 percent. Meanwhile, top gainers in
the sector included OpenTable (NASDAQ:
), up 47 percent, and China Digital TV Holding Co (NYSE:
), up 9 percent.
Utilities shares fell around 0.30 percent in trading on
Friday. Top losers in the sector included Pampa Energia SA (NYSE:
), revesed loses and is currently up 1.75 percent, and Korea
Electric Power (NYSE:
), off 3.16 percent.
Priceline Group (NASDAQ:
) announced its plans to buy OpenTable (NASDAQ:
) for $2.6 billion in cash.
The offer price of $103 per share represents a 46% premium
over OpenTable's closing price on Thursday. The transaction is
likely to close in the third quarter.
Equities Trading UP
) shares launched up 21.40 percent to $16.45 on Sycamore stake
and potential acquisition. Sycamore Partners said Thursday that
it is interested in acquiring Express. Sycamore has already
acquired a 9.9% stake in Express, according to a regulatory
Shares of OpenTable (NASDAQ:
) got a boost, gaining 47.32 percent to $103.76 after Priceline
announced its plans to buy OpenTable for $103 per share.
) shares were also up, gaining 13.67 percent to $74.84 following
the report of OpenTable (NASDAQ:
) bid by Priceline (NASDAQ:
Equities Trading DOWN
Shares of Finisar (NASDAQ:
) were down 22.44 percent to $19.58 after the company reported
downbeat earnings for the fourth quarter and issued a weak profit
forecast for the current quarter.
OncoMed Pharmaceuticals (NASDAQ:
) shares tumbled 12.05 percent to $20.90 after the company
voluntarily stopped enrollment for Phase 1 Vantictumab.
Achillion Pharmaceuticals (NASDAQ:
) was down, falling 5 percent to $6.49 after dropping 6.32% on
In commodity news, oil traded up 0.37 percent to $106.92,
while gold traded up 0.14 percent to $1,275.80.
Silver traded up 0.70 percent Friday to $19.67, while copper
rose 0.46 percent to $3.03.
European shares were lower today.
The eurozone's STOXX 600 tumbled 0.48 percent, the Spanish
IBEX Index gained 0. percent, while Italy's FTSE MIB Index stayed
flat, goaining 0.01 percent.
Meanwhile, the German DAX dropped 0.26 percent and the French
CAC 40 fell 0.24 percent while UK shares dropped 1.11
US wholesale prices declined 0.2% in May. However, economists
were projecting a 0.1% gain in the PPI.
The preliminary reading of Reuter's/University of Michigan's
consumer sentiment index fell to 81.20 in June, versus a prior
reading of 81.90. However, economists were expecting a reading of
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advice. All rights reserved.
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