Midway through trading Tuesday, the Dow traded up 0.24 percent
to 16,314.87 while the NASDAQ declined 0.41 percent to 4,209.25.
The S&P also rose, gaining 0.03 percent to 1,857.96.
Leading and Lagging Sectors In trading on Tuesday, basic
materials shares were relative leaders, up on the day by about
0.88 percent. Top gainers in the sector included LSB Industries
), with shares up 5 percent, and Gold Fields (NYSE:
), with shares up 4.2 percent. Cyclical consumer goods &
services shares dropped by 0.66 percent in the US market
Among the sector stocks, Sky-mobi (NASDAQ:
) was down more than 13.7 percent, while Aeropostale (NYSE:
) tumbled around 5.95 percent.
Top Headline Walgreen Co (NYSE:
) reported a drop in its second-quarter profit and announced its
plans to close 76 stores. Walgreen's quarterly net income fell to
$754 million, or $0.78 per share, versus a year-ago profit of
$756 million, or $0.79 per share. Excluding one-time items, it
earned $0.91 per share. Its sales climbed 5.1% to $19.61 billion,
while same-store sales climbed 4.3%. However, analysts were
expecting earnings of $0.93 per share on sales of $19.6 billion.
Its gross profit margin declined 1.3 percentage points to 28.8%
Equities Trading UP Sonic (NASDAQ:
) shares shot up 7.89 percent to $22.57 after the company
fiscal second-quarter earnings. Sonic posted its quarterly
earnings of $0.07 per share on revenue of $109.7 million.
However, analysts were projecting a profit of $0.06 per share on
revenue of $110.3 million.
Shares of McCormick & Company (NYSE:
) got a boost, shooting up 5.91 percent to $71.50 after the
company reported better-than-expected first-quarter earnings.
Walgreen Co (NYSE:
) was also up, gaining 2.95 percent to $66.21 after the company
reported a drop
in its second-quarter profit and announced its plans to close 76
Equities Trading DOWN Shares of Himax Technologies (NASDAQ:
) were down 15.99 percent to $11.24 after falling 4.77% on
Monday. Bank of America downgraded the stock to underperform.
G-III Apparel Group (NASDAQ:
) shares tumbled 5.67 percent to $70.24 on Q4 results. G-III
Apparel reported its Q4 earnings of $0.62 per share on revenue of
$472.80 million. The company expected FY15 earnings of $3.95 to
$4.10 per share, versus analysts' estimates of $4.30 per
) was down, falling 5.02 percent to $37.99 after the company
reported Q1 results. Carnival reported its Q1 earnings of $0.00
per share on revenue of $3.585 billion.
Commodities In commodity news,
oil traded up 0.33 percent
to $99.93, while gold traded up 0.12 percent to $1,312.70.
Silver traded down 0.23 percent Tuesday to $20.02, while
copper rose 2.27 percent to $3.01.
Eurozone European shares
The Spanish Ibex Index rose 0.81 percent, while Italy's FTSE
MIB Index climbed 0.78 percent.
Meanwhile, the German DAX jumped 1.55 percent and the French
CAC 40 rose 1.30 percent while U.K. shares surged 1.15
Economics The ICSC-Goldman same-store sales index dropped 1.5%
in the week ended Saturday versus the earlier week.
The Johnson Redbook Retail Sales Index declined 0.4% in the
first three weeks of March versus February.
US home prices fell 0.1% in January, according to
S&P/Case-Shiller's composite index.
US home prices climbed 0.8% in January after seasonal
adjustments. Sales of new US homes dropped 3.3% to an annual rate
of 440,000 in February. However, economists were expecting sales
to reach 445,000 last month.
The Richmond Fed manufacturing index declined to -7.00 in
March, versus a prior reading of -6.00. However, economists were
expecting a reading of 4.00.
The Conference Board's consumer confidence index rose to 82.30
in March, versus economists' expectations for a reading of 78.50.
US home prices climbed 0.5% in January, and rose 7.4% y/y.
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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