Toward the end of trading Friday, the Dow traded up 0.40
percent to 16,608.03 while the NASDAQ surged 0.76 percent to
4,185.74. The S&P also rose, gaining 0.44 percent to
Leading and Lagging Sectors Industrials lead the rally in US
markets on Friday, with names like Nordson (NASDAQ:
) which gained 8.73 percent and StealthGas which rallied 7.31
percent. Healthcare proved to be a relative laggard Thursday as
traders rotated out of defensive plays, with large healthcare
names looking sluggish.
Top Headline Making the top of headlines Friday was Hewlett
) earnings leak before the close Thursday. While the report
itself held little in the way of fireworks, the company did
announce expanded job cuts, moving its layoffs to near 50
thousand, or almost a sixth of the company's workforce.
Equities Trading UP Parsley Energy (NYSE:
) showed strength Friday, gaining 20.05 percent to $22.20 after
the company's IPO impressed the street.
Shares of Isis Pharmaceuticals (NASDAQ:
) were up as well, gaining 11.22 percent to $27.73 after the
company rode a tide of strong investor sentiment from its
positive phase II data on Thursday.
Nimble Storage (
) was also on the rise, gaining 10.58 percent to $29.17, possibly
related to the IBM decision to no longer sell NetApp
Equities Trading DOWN RetailMeNot (NASDAQ:
) fell once again Friday, dropping 6.28 percent to $23.65
following a downgrade from Stifel to a Hold rating.
Hibbett Sports (NASDAQ:
) was down as well, falling 7.55 percent to $52.80 after the
company matched analyst expectations on the bottom line, but left
street expectations towards the top end of its guidance. The
company also guided a $0.11 per share cost of adding a new
wholesale and logistics facility.
Shares of Pharmacyclics (NASDAQ:
) also fell, dropping 6.86 percent to $87.90 on seemingly little
Commodities In commodity news,
oil traded up 0.64 percent
to $104.40, while gold traded down 0.15 percent to $1,293.70.
Silver traded down 0.50 percent Friday to $19.41, while copper
rose 0.75 percent to $3.17.
Eurozone Europe's markets were mostly lower Friday; the UK's
FTSE lost 0.25 percent, the STOXX 600 was down 0.11 percent and
both the German DAX and the Spanish IBEX lost 0.01 percent.
However, France's CAC 40 rose 0.03 percent and Italy's MIB
gained 0.34 percent.
Economics In economic news Friday, new home sales came in at
433K, beating estimates of 425K, and showing significant growth
over the revised prior figure of 407k.
The month over month growth in new home sales came in at 6.4
percent, missing consensus estimates of 10.7 percent, but
crushing the revised prior figure of a loss of 6.9 percent.
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
Free Trading Education -
Check out the free events taking place on Marketfy
this week. Spaces are limited. Sign up today.