Following the market opening Friday, the Dow traded down 0.30
percent to 16,502.17 while the NASDAQ tumbled 0.27 percent to
4,040.43. The S&P also fell, dropping 0.40 percent to
Leading and Lagging Sectors Cyclical consumer goods &
services shares climbed around 0.03 percent in trading on Friday.
Leading the sector was strength from Polypore International
) and The E. W. Scripps Company (NYSE:
). In trading on Friday, telecommunications services shares were
relative laggards, down on the day by about 0.59 percent.
Meanwhile, top decliners in the sector included Internet
Initiative Japan (NASDAQ:
), down 4.3 percent, and 8x8 (NASDAQ:
), off 3.6 percent.
Top Headline Apple (NASDAQ:
) is in
talks to acquire
headphone maker Beats Electronics, according to a Financial Times
report from Thursday afternoon. The deal is rumored to be around
$3.2 billion, which would make it Apple's largest acquisition to
Equities Trading UP Universal Display (NASDAQ:
) shares shot up 10.56 percent to $27.50 after the company
reported stronger-than-expected Q1 results.
Shares of Polypore International (NYSE:
) got a boost, shooting up 9.45 percent to $38.00 after the
company reported Q1 results. DA Davidson upgraded Polypore from
Neutral to Buy and lifted the price target from $36.00 to
Clean Energy Fuels (NASDAQ:
) shares were also up, gaining 12.01 percent to $9.89 after the
company reported a Q1 loss of $0.30 per share on revenue of
Equities Trading DOWN Shares of Rocket Fuel (NASDAQ:
) were 23.80 percent to $21.19 after the company issued a weak
outlook. Goldman Sachs downgraded Rocket Fuel from Buy to Neutral
and cut the price target from $69.00 to $25.00.
Ubiquiti Networks (NASDAQ:
) shares tumbled 16.46 percent to $34.56 on Q3 results. Ubiquiti
reported its quarterly earnings of $0.50 per share on revenue of
PROS Holdings (NYSE:
) was down, falling 24.10 percent to $19.75 after the company
posted Q1 earnings of $0.01 per share on revenue of $42.90
million. Pacific Crest Securities downgraded the stock from
Outperform to Sector Perform.
Commodities In commodity news,
oil traded up 0.52 percent
to $100.78, while gold traded up 0.18 percent to $1,290.00.
Silver traded up 0.17 percent Friday to $19.17, while copper
rose 0.20 percent to $3.07.
Eurozone European shares
The eurozone's STOXX 600 dipped 0.27 percent, the Spanish Ibex
Index fell 0.88 percent, while Italy's FTSE MIB Index slipped
Meanwhile, the German DAX declined 0.11 percent and the French
CAC 40 tumbled 0.50 percent while UK shares dropped 0.20
Economics US wholesale inventories rose 1.10% in March, versus
economists' expectations for a 0.50% gain.
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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