Midway through trading Thursday, the Dow traded up 0.02
percent to 16,584.05 while the NASDAQ gained 0.73 percent to
4,144.42. The S&P also rose, gaining 0.15 percent to
Leading and Lagging Sectors Healthcare shares surged around
0.49 percent in Thursday trading. Leading the sector was strength
from Pacific Biosciences of California (NASDAQ:
) and CytRx (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 Avon Products (NYSE:
), Lancaster Colony (NASDAQ:
), and Boston Beer Co (NYSE:
Top Headline Viacom (NASDAQ:
) reported a
in its second-quarter profit. Viacom's quarterly profit surged to
$502 million, or $1.13 per share, versus a year-ago profit of
$481 million, or $0.96 per share. Its adjusted earnings gained to
$1.08 per share from $0.96 per share. Its revenue rose 1% to
$3.17 billion compared to $3.14 billion. However, analysts were
estimating earnings of $1.05 per share on revenue of $3.19
billion. Viacom also announced its plans to buy UK's Channel 5
Broadcasting Ltd for 450 million pounds ($760 million).
Equities Trading UP Merrimack Pharmaceuticals (NASDAQ:
) shares shot up 64.24 percent to $7.21 after the company
reported that MM-398 has
achieved primary endpoint
of overall survival in Phase 3 trial in post-gemcitabine
metastatic pancreatic cancer.
Shares of Weight Watchers International (NYSE:
) got a boost, shooting up 22.42 percent to $24.24 after the
results and raised its earnings forecast for the year.
) shares were also up, gaining 12.20 percent to $42.36 after the
company reported upbeat results.
Equities Trading DOWN Shares of American Railcar Industries
) were 12.14 percent to $61.01 after the company reported
weaker-than-expected Q1 results.
) shares tumbled 64.83 percent to $9.06 after the spinoff of its
loan-management business Navient. Credit Suisse initiated
coverage on SLM with a Outperform rating.
JDS Uniphase (NASDAQ:
) was down, falling 11.84 percent to $11.17 after the company
downbeat Q3 results
and issued a weak Q4 forecast.
Commodities In commodity news,
oil traded down 0.09 percent
to $99.65, while gold traded down 0.96 percent to $1,283.40.
Silver traded down 0.23 percent Thursday to $19.13, while
copper fell 0.05 percent to $3.03.
Eurozone European shares today.
The eurozone's STOXX 600 gained 0.18 percent, The Spanish Ibex
Index fell 0.02 percent, while Italy's FTSE MIB Index declined
Meanwhile, the German DAX surged 0.20 percent and the French
CAC 40 tumbled 0.23 percent while U.K. shares gained 0.43
Economics Announced layoffs rose around 40,298 in April,
versus 34,000 in March and compared to 38,000 in the year-ago
month, outplacement consultancy Challenger, Gray & Christmas
US jobless claims increased 14,000 to 344,000, in the week
ended April 26. However, economists were estimating claims to
decline to 320,000 in the week.
US consumer spending increased 0.9% in March, while personal
income climbed 0.5%. However, economists were projecting a 0.4%
rise in income and a 0.6% increase in spending.
The final reading of Markit PMI manufacturing index came in at
55.40 in April, versus a prior reading of 55.40. However,
economists were expecting a reading of 55.40.
The ISM manufacturing composite index rose to 54.90 in April,
versus economists' estimates for a reading of 54.30.
US construction spending increased 0.20% in March, versus
economists' expectations for a 0.50% growth.
Supplies of natural gas climbed 82 billion cubic feet for the
week ended April 25, the US Energy Information Administration
said. However, analysts were expecting a gain of 73 billion cubic
feet to 77 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.
Free Trading Education -
Check out the free events taking place on Marketfy
this week. Spaces are limited. Sign up today.