Midway through trading Wednesday, the Dow traded up 0.53
percent to 16,341.84 while the NASDAQ gained 0.88 percent to
4,149.35. The S&P also rose, surging 0.46 percent to
Leading and Lagging Sectors Healthcare stocks gained
Wednesday, with Senomyx (NASDAQ:
) leading advancers after the company announced a research
agreement with PepsiCo (NYSE:
). Among the leading sector stocks, gains came from Pernix
Therapeutics Holdings (NASDAQ:
), Albany Molecular Research (NASDAQ:
) and Cytokinetics (NASDAQ:
). In trading on Wednesday, utilities shares were relative
laggards, down on the day by about 0.54 percent.
Top decliners in the sector included Companhia Energética de
Minas Gerais SA (NYSE:
), off 3.2 percent, and Companhia Paranaense de Energia (NYSE:
), down 3.9 percent.
Top Headline Constellation Brands (NYSE:
) reported better-than-expected fiscal fourth-quarter earnings.
Constellation's quarterly net income surged to $157.2 million, or
$0.79 per share, from $81.7 million, or $0.43 per share, in the
year-ago period. Its net sales climbed to $1.29 billion versus
$696 million. However, analysts were expecting earnings of $0.76
per share on sales of $1.29 billion. Constellation expects FY15
earnings of $3.95 to $4.15 per share.
Equities Trading UP Constant Contact (NASDAQ:
) shares shot up 27.51 percent to $27.95 after the company lifted
its Q1 and FY14 revenue outlook.
Shares of Prothena Corporation plc (NASDAQ:
) got a boost, shooting up 9.73 percent to $32.82 after the
company reported the
of a Phase 1 clinical trial of PRX002 for the treatment of
Parkinson's disease. Citigroup initiated coverage on the stock
with a Buy rating and a $50.00 price target.
) shares were also up, gaining 3.43 percent to $12.96 after the
company reported better-than-expected first-quarter earnings.
Alcoa posted its quarterly adjusted earnings of $0.09 per share
on revenue of $5.45 billion. However, analysts were estimating
earnings of $0.05 per share on revenue of $5.57 billion.
Equities Trading DOWN Shares of Intuitive Surgical (NASDAQ:
) were down 6.42 percent to $458.38 after the company issued
downbeat revenue forecast
for the first-quarter. The company expected revenue of around
$465 million, versus analysts' estimates of $535.5 million.
Sterne Agee initiated coverage on the stock with an Underperform
WD-40 Company (NASDAQ:
) shares tumbled 6.44 percent to $72.81 after the company
reported weaker-than-expected FQ2 earnings.
Ashford Hospitality Trust (NYSE:
) was down, falling 6.43 percent to $10.48 after the company
priced 7.5 million shares at $10.70 per share.
Commodities In commodity news,
oil traded up 0.40 percent
to $102.97, while gold traded down 0.31 percent to $1,305.00.
Silver traded down 1.43 percent Wednesday to $19.77, while
copper fell 0.80 percent to $3.03.
Eurozone European shares
The Spanish Ibex Index rose 0.04 percent, while Italy's FTSE
MIB Index climbed 0.23 percent.
Meanwhile, the German DAX rose 0.16 percent and the French CAC
40 jumped 0.40 percent while U.K. shares surged 0.68 percent.
Economics The MBA reported that its index of mortgage
application activity fell 1.60% in the week ended April 4.
US wholesale inventories rose 0.50% in February, versus
economists' expectations for a 0.50% gain.
Crude stockpiles surged 4 million barrels for the week ended
April 4, the US Energy Information Administration reported.
However, analysts were expecting a gain of 2.5 million
Gasoline supplies declined 5.2 million barrels, while
distillate stockpiles climbed 200,000 barrels.
The Federal Open Market Committee will issue minutes of its
latest meeting at 2:00 p.m. ET.
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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