Following the market opening Tuesday, the Dow traded up 0.03
percent to 16,942.23 while the NASDAQ surged 0.31 percent to
4,382.19. The S&P also rose, gaining 0.04 percent to
Leading and Lagging Sectors
Utilities shares rose around 0.29 percent in trading on
Tuesday. Meanwhile, top gainers in the sector included Empresa
Distribuidora y Comercializadora Norte S.A. (NYSE:
), up 4.4 percent, and Korea Electric Power (NYSE:
), up 4 percent.
Basic materials sector was the top loser in the US market on
Tuesday. Top decliners in the sector included Kraton Performance
), Molycorp (NYSE:
), and Thompson Creek Metals Company (NYSE:
Walgreen Co (NYSE:
fiscal third-quarter earnings.
Walgreen's quarterly profit increased to $722 million, or
$0.75 per share, from a year-earlier profit of $624 million, or
$0.65 per share. Its adjusted earnings gained to $0.91 from $0.85
Its net sales surged 5.9% to $19.40 billion from $18.31
billion. However, analysts were projecting earnings of $0.94 per
share on sales of $19.49 billion.
Equities Trading UP
Vertex Pharmaceuticals (NASDAQ:
) shares shot up 41.33 percent to $94.14 after the company
reported that its two phase 3
studies of Lumacaftor
in combination with ivacaftor met the primary endpoint.
Shares of Wix.com (NASDAQ:
) got a boost, shooting up 6.58 percent to $18.94 after the
company announced that it had surpassed 50 million registered
Micron Technology (NASDAQ:
) shares were also up, gaining 2.49 percent to $32.04 after the
fiscal third-quarter earnings. Micron posted its adjusted
earnings of $0.79 per share, beating analysts' estimates of $0.69
Equities Trading DOWN
Shares of Elizabeth Arden (NASDAQ:
) were 3.53 percent to $27.30 on restructuring news. The company
announced its plans to reduce jobs and exit some retail doors. It
also announced the closing of its Puerto Rico affiliate.
Web.com Group (NASDAQ:
) shares tumbled 17.46 percent to $28.56. B Riley downgraded
Web.com from Buy to Neutral.
) was down, falling 2.31 percent to $38.50 after the company
reported its Q2 earnings of $0.10 per share and raised its
In commodity news,
oil traded down 0.08 percent
to $106.09, while gold traded up 0.31 percent to $1,322.50.
Silver traded up 0.70 percent Tuesday to $21.11, while copper
rose 0.02 percent to $3.14.
were mostly lower
The eurozone's STOXX 600 declined 0.26 percent, the Spanish
Ibex Index dropped 0.10 percent, while Italy's FTSE MIB Index
fell 0.42 percent.
Meanwhile, the German DAX rose 0.04 percent and the French CAC
40 gained 0.07 percent while UK shares slipped 0.21 percent.
The ICSC-Goldman Sachs store sales index gained 2% in the week
ended Saturday versus the earlier week.
The Johnson Redbook retail sales index declined 1.7% in the
first weeks of June versus May.
The FHFA house price index remained unchanged in April, versus
economists' expectations for a 0.50% growth.
US home prices increased 1.1% in April versus March, according
to S&P/Case-Shiller's composite index. After seasonal
adjustments, US home prices gained 0.2% in April. The
S&P/Case-Shiller home price index rose to a reading of 168.71
in April, versus a prior reading of 166.80. However, economists
were expecting a reading of 169.09.
Sales of new US homes rose at an annual rate of 504,000 in
May, versus economists' expectations for a 439,000 gain.
The Conference Board's consumer confidence index rose to 85.20
in June, versus a previous reading of 83.00. However, economists
were expecting a reading of 83.50.
The Richmond Fed manufacturing index fell to 3.00 in June,
versus a prior reading of 7.00. However, economists were
expecting a reading of 7.00.
The Treasury is set to auction 4-and 52-week bills. The
Treasury will also auction 2-year notes.
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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