Toward the end of trading Thursday, the Dow traded up 0.06
percent to 16,434.15 while the NASDAQ surged 0.46 percent to
4,105.08. The S&P also rose, gaining 0.30 percent to
Leading and Lagging Sectors Thursday morning, the
telecommunications services sector proved to be a source of
strength for the market. Leading the sector was strength from ARC
Group Worldwide (NASDAQ:
) and Internet Initiative Japan (NASDAQ:
). In trading on Thursday, non-cyclical consumer goods &
services shares were relative laggards, down on the day by about
Top losers in the sector included B&G Foods (NYSE:
), off 5.6 percent, and Diageo plc (NYSE:
), down 3.5 percent.
Top Headline The Goldman Sachs Group (NYSE:
first-quarter earnings. Goldman Sachs posted its quarterly
earnings of $2.03 billion, or $4.02 per share, down from $2.26
billion, or $4.29 per share, in the year-ago period. Its total
revenue declined 8% to $9.33 billion from $10.09 billion.
However, analysts were estimating earnings of $3.48 per share on
revenue of $8.66 billion.
Goldman Sachs' investment banking revenue rose 13% to $1.78
billion from $1.57 billion, while fixed income revenue slipped
11% to $2.85 billion versus $3.22 billion.
Equities Trading UP Plexus (NASDAQ:
) shares shot up 6.98 percent to $42.09 after the company
reported its Q2 earnings of $0.60 per share on revenue of $557.60
million. The company also issued a strong Q3 outlook.
Shares of SINA (NASDAQ:
) were also up, gaining 6.89 percent to $56.66 Weibo successfully
IPO'ed Thursday morning.
) shares were also up, gaining 10.24 percent to $83.62 after the
company reported upbeat Q1 results. Morgan Stanley raised the
price target on the stock from $82.00 to $90.00.
Equities Trading DOWN Shares of Moneygram International
) were down 17.01 percent to $14.92 following announcement of new
money-transfer service from Wal-Mart.
International Business Machines (NYSE:
) shares tumbled 3.28 percent to $189.96 after the company
revenue. IBM posted its adjusted earnings of $2.54 per share on
revenue of $22.48 billion. However, analysts were projecting
earnings of $2.54 per share on revenue of $22.93 billion.
Western Union (NYSE:
) was also down, falling 4.61 percent to $15.31 after Wal-Mart
announced a new money transfer service Thursday morning.
Commodities In commodity news,
oil traded up 0.51 percent
to $104.29, while gold traded down 0.62 percent to $1,295.30.
Silver traded down 0.23 percent Thursday to $19.63, while
copper rose 0.86 percent to $3.05.
Eurozone European shares
The Spanish Ibex Index rose 0.24 percent, while Italy's FTSE
MIB Index jumped 0.37 percent.
Meanwhile, the German DAX climbed 0.99 percent and the French
CAC 40 jumped 0.59 percent while U.K. shares gained 0.62
Economics US initial jobless claims rose by 2,000 to 304,000
in the week ended April 12. However, economists were projecting
claims to total 315,000 in the week.
US Bloomberg Consumer Comfort Index rose to -29.10 in the week
ended April 13, versus a prior reading of -31.90.
US Philadelphia Fed manufacturing index rose to 16.60 in
April, versus a prior reading of 9.00. However, economists were
expecting a reading of 9.80.
Supplies of natural gas climbed 24 billion cubic feet for the
week ended April 11, the US Energy Information Administration
said. However, analysts were expecting a gain of 34 billion cubic
feet to 38 billion cubic feet.
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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