Midway through trading Wednesday, the Dow traded up 0.11
percent to 16,551.46 while the NASDAQ surged 0.09 percent to
4,271.78. The S&P also rose, gaining 0.19 percent to
Leading and Lagging Sectors In trading on Wednesday, cyclical
consumer goods & services shares were relative leaders, up on
the day by about 0.41 percent. Meanwhile, top gainers in energy
sector included Autobytel (NASDAQ:
), with shares up 20.6 percent, and VisionChina Media (NASDAQ:
), with shares up 15.5 percent.
Technology shares dropped by 0.14 percent in the US market
today. Among the sector stocks, Liquidity Services (NASDAQ:
) was down more than 11.2 percent, while Silicon Image (NASDAQ:
) tumbled around 6.7 percent.
Top Headline Monsanto Co (NYSE:
reported a rise
in its second-quarter profit. Monsanto's quarterly profit surged
to $1.67 billion, or $3.15 per share, versus a year-ago profit of
$1.48 billion, or $2.74 per share. Its adjusted earnings came in
at $3.15 per share. Its revenue surged to $5.83 billion versus
$5.47 billion. However, analysts were estimating earnings of
$3.06 per share on revenue of $5.81 billion.
Equities Trading UP MannKind (NASDAQ:
) shares shot up 76.37 percent to $7.09 after the company
confirmed that the
FDA Advisory Committee
recommended the approval of the company's diabetes drug
Shares of Acceleron Pharma (NASDAQ:
) got a boost, shooting up 16.74 percent to $39.54 after Form 8-K
for Acceleron Pharma showed that Celgene (NASDAQ:
) will buy 1.1 million shares for $47.15 million.
Myriad Genetics (NASDAQ:
) was also up, gaining 12.86 percent to $39.67 after the Centers
for Medicare & Medicaid Services updated pricing for the
sequencing of the BRCA1 and BRCA2 genes.
Equities Trading DOWN Shares of Liquidity Services (NASDAQ:
) were down 11.50 percent to $19.78 after the company reported
that it has been named the
apparent high bidder
for a non-rolling stock surplus contract with the U.S. Department
Apollo Education Group (NASDAQ:
) shares tumbled 8.93 percent to $32.02 after the company
FQ2 revenue. Apollo Education posted its quarterly adjusted
earnings of $0.28 per share on revenue of $679.1 million.
However, analysts were projecting earnings of $0.19 per share on
revenue of $689.4 million.
) was down, falling 4.28 percent to $25.94 after Northland
Securities downgraded the stock from Outperform to Market Perform
and lowered the target price from $43 to $30.
Commodities In commodity news,
oil traded down 0.16 percent
to $99.58, while gold traded up 1 percent to $1,292.80.
Silver traded up 1.84 percent Wednesday to $20.05, while
copper rose 0.43 percent to $3.05.
Eurozone European shares today.
The Spanish Ibex Index fell 0.20 percent, while Italy's FTSE
MIB Index declined 1.02 percent.
Meanwhile, the German DAX surged 0.28 percent and the French
CAC 40 jumped 0.09 percent while U.K. shares gained 0.16
Economics The MBA reported that its index of mortgage
application activity dropped 1.2% in the week ended March 28.
US private sector employers added 191,000 jobs in March,
according to Automatic Data Processing Inc. However, economists
were expecting an addition of 195,000 jobs.
US factory orders rose 1.60% in February, versus economists'
expectations for a 1.20% gain.
Crude stockpiles slipped 2.4 million barrels for the week
ended March 28, the US Energy Information Administration
reported. However, analysts were expecting a gain of 1.8 million
US gasoline supplies declined 1.6 million barrels, while
distillate stockpiles climbed 600,000 barrels.
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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