Midway through trading Tuesday, the Dow traded down 0.25
percent to 16,701.34 while the NASDAQ tumbled 0.42 percent to
4,219.50. The S&P also fell, dropping 0.28 percent to
Leading and Lagging Sectors
Energy shares gained around 0.05 percent in trading on
Tuesday. Leading the sector was strength from Magnum Hunter
) and Carrizo Oil & Gas (NASDAQ:
In trading on Tuesday, basic materials shares were relative
laggards, down on the day by about 0.51 percent. Top losers in
the sector included Molycorp (NYSE:
), down 4.2 percent, and Amyris (NASDAQ:
), off 6.1 percent.
Pilgrim's Pride (NASDAQ:
) announced a $55 per share ($7.7 billion total)
bid for Hillshire
Brands Co (NYSE:
) on Monday.
Pilgrim's Pride Corp increased its acquisition offer by $1
billion. The new offer valued Hillshire at $55 per share, a step
up from Tyson Foods $50 per share offer on Thursday.
Equities Trading UP
) shares shot up 18.28 percent to $44.25 after the company
announced a patent license agreement with Samsung and
updated its revenue
forecast for the second quarter.
Shares of Acadia Healthcare Company (NASDAQ:
) got a boost, shooting up 10.73 percent to $46.55 after the
company announced its plans to buy Partnerships in Care for
around $660 million.
The Hillshire Brands Company (NYSE:
) shares were also up, gaining 8.92 percent to $58.35 on a $55.00
bid from Pilgrim's Pride (NASDAQ:
Equities Trading DOWN
Shares of Quiksilver (NYSE:
) were 41.45 percent to $3.39 after the company posted a loss in
the fiscal second quarter and issued a weak forecast.
Quiksilver posted an adjusted loss of $0.15 per share on
revenue of $408 million. However, analysts were expecting a loss
of $0.02 per share on revenue of $449 million. Analysts at Stifel
Nicolaus downgraded Quiksilver from Buy to Hold.
Krispy Kreme Doughnuts (NYSE:
) shares tumbled 14.47 percent to $16.25 after the company
reported weaker-than-expected first-quarter revenue and cut its
FY15 outlook. Krispy Kreme posted its adjusted earnings of $0.23
per share on revenue of $121.6 million.
Advanced Energy Industries (NASDAQ:
) was down, falling 11.79 percent to $16.76 after the company
reported that its CEO Garry Rogerson has decided to step down
from his role. Needham downgraded Advanced Energy Industries from
Buy to Hold.
In commodity news,
oil traded up 0.22 percent
to $102.70, while gold traded up 0.06 percent to $1,244.70.
Silver traded up 0.06 percent Tuesday to $18.75, while copper
fell 1.12 percent to $3.14.
The eurozone's STOXX 600 dropped 0.50 percent, the Spanish
Ibex Index fell 0.42 percent, while Italy's FTSE MIB Index
declined 0.63 percent.
Meanwhile, the German DAX fell 0.31 percent and the French CAC
40 slipped 0.27 percent while UK shares tumbled 0.54 percent.
The ICSC-Goldman's same-store sales index gained 2.9% in the
week ended Saturday versus the earlier week.
The Johnson Redbook Retail Sales Index rose 0.7% in the first
four weeks of May versus April.
US factory orders rose 0.70% in April, versus economists'
expectations for a 0.50% gain.
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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