Toward the end of trading Thursday, the Dow traded down 1.29
percent to 16,129.55 while the NASDAQ tumbled 1.51 percent to
4,258.83. The S&P also fell, dropping 1.09 percent to
Leading and Lagging Sectors
Thursday morning, the utilities sector proved to be a source
of strength for the market. Leading the sector was strength from
CPFL Energia SA (NYSE:
) and CenterPoint Energy (NYSE:
). In trading on Thursday, energy shares were relative laggards,
down on the day by about 0.61 percent. Top decliners in the
sector included Ameresco (NASDAQ:
), off 17.5 percent, and Hugoton Royalty Trust (NYSE:
), down 4.1 percent.
Top Headline Dollar General (NYSE:
fourth-quarter sales. Dollar General's quarterly profit surged to
$322.2 million, or $1.01 per share, versus a year-ago profit of
$317.4 million, or $0.97 per share. Its net sales rose to $4.49
billion versus $4.21 billion, while same-store sales climbed
1.3%. However, analysts were estimating earnings of $1.01 per
share on sales of $4.62 billion. For the first quarter, Dollar
General projects earnings of $0.72 to $0.74 per share and total
sales to increase 7% to 8%. It projects FY14 earnings of $3.45 to
$3.55 per share and total sales to surged 8% to 9%.
Equities Trading UP Scientific Games (NASDAQ:
) shares shot up 16.02 percent to $16.09 following positive
earnings report. Scientific Games posted a Q4 loss of $0.01 per
share. Shares of Plug Power (NASDAQ:
) got a boost, shooting up 17.21 percent to $7.99 after the
results. Plug Power posted a quarterly loss of $0.08 per share,
versus the estimated loss of $0.08 per share. Chelsea
) was also up, gaining 14.19 percent to $5.97after a Wedbush
report highlighted it as a possible acquisition target.
Equities Trading DOWN Shares of Methode Electronics (NYSE:
) were down 12.23 percent to $31.08 after the company reported Q3
) was down as well, falling 8.95 percent to $28.99 as Ukraine
fears took a hit on Russian markets once again.
) was down, falling 5.99 percent to $22.45 after the company
results. Gogo posted a quarterly loss of $0.26 per share, versus
analysts' estimates of a loss of $0.27 per share.
Commodities In commodity news,
oil traded up 0.17 percent
to $98.16, while gold traded up 0.20 percent to $1,373.30.
Silver traded up 1.90 percent Thursday to $21.21, while copper
fell 1.45 percent to $2.91.
Eurozone European shares
The Spanish Ibex Index fell 0.56 percent, while Italy's FTSE
MIB Index declined 0.05 percent.
Meanwhile, the German DAX dropped 0.86 percent and the French
CAC 40 declined 0.69 percent while U.K. shares fell 0.68
Economics US jobless claims declined 9,000 to 315,000 in the
week ended March 8. However, economists were projecting claims to
reach 330,000 in the week.
US retail sales increased 0.3% in February, versus economists'
expectations for a 0.2% gain.
US import price index rose 0.90% in February, versus
economists' expectations for a 0.30% gain.
US business inventories rose 0.40% in January, versus
economists' expectations for a 0.40% gain.
Supplies of natural gas dropped 195 billion cubic feet for the
week ended March 7, the US Energy Information Administration
said. However, analysts were expecting a drop of 193 billion
cubic feet to 197 billion cubic feet.
The US Treasury monthly budget report for February will be
released at 2:00 p.m. ET.
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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