Following the market opening Thursday, the Dow traded up 0.15
percent to 16,657.51 while the NASDAQ surged 0.34 percent to
4,239.44. The S&P also rose, gaining 0.23 percent to
Leading and Lagging Sectors Non-cyclical consumer goods &
services sector was the top gainer in trading on Thursday. Top
gainers in the sector included The Hillshire Brands Company
), up 15.3 percent, and Tyson Foods (NYSE:
), up 5.7 percent.
In trading on Thursday, utilities shares were relative
laggards, down on the day by about 0.05 percent. Top losers in
the sector included Korea Electric Power (NYSE:
), down 3.1 percent, and Consolidated Water Co (NASDAQ:
), off 1.8 percent.
Top Headline On Wednesday, Apple (NASDAQ:
) announced that it will be
buying Beats Electronics
and Beats Music for $3 billion, making it the largest acquisition
in the company's history.
Apple is acquiring the two companies for a total of $3
billion, consisting of a purchase price of approximately $2.6
billion and approximately $400 million that will vest over
Equities Trading UP
The Hillshire Brands Company (NYSE:
) shares shot up 15.43 percent to $51.73 following the
announcement of $50.00 per share bid from Tyson Foods (NYSE:
Shares of Popeyes Louisiana Kitchen (NASDAQ:
) got a boost, shooting up 10.65 percent to $42.13 after the
company reported upbeat Q1 results and raised its FY14 earnings
Palo Alto Networks (NYSE:
) shares were also up, gaining 10.27 percent to $76.65 after the
company reported better-than-expected third-quarter results and
said it settled patent dispute with Juniper Networks (NYSE:
Equities Trading DOWN
Shares of Fabrinet (NYSE:
) were 6.44 percent to $18.31 after the company priced a
secondary offering by selling shareholder of 3.15 million
) shares tumbled 5.51 percent to $15.12 after the company
reported weak Q2 earnings and lowered its FY14 earnings
RCS Capital (NYSE:
) was down, falling 7.11 percent to $27.63 after the company 4:37
announced a proposed public offering of 15 million shares of
Class A common stock.
In commodity news,
oil traded up 0.26 percent
to $102.99, while gold traded down 0.40 percent to $1,254.60.
Silver traded down 0.97 percent Thursday to $18.88, while
copper fell 0.91 percent to $3.14.
were mostly lower
The eurozone's STOXX 600 fell 0.01 percent, the Spanish Ibex
Index fell 0.26 percent, while Italy's FTSE MIB Index tumbled
Meanwhile, the German DAX fell 0.02 percent and the French CAC
40 declined 0.13 percent while UK shares rose 0.30 percent.
The US economy shrank 1% in the first quarter, versus
economists' expectations for a 0.5% decline.
US exports dropped 6%, while imports increased 0.7%.
US jobless claims declined 27,000 to 300,000 in the week ended
May 24. However, economists were projecting claims to reach
318,000 in the week.
The pending home sales index increased 0.4% to reach 97.8 in
April versus 97.4 in March, according to the National Association
The Treasury is set to auction 3-and 6 month bills.
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.
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