Following the market opening Friday, the Dow traded up 0.72
percent to 16,380.76 while the NASDAQ surged 0.80 percent to
4,184.38. The S&P also rose, gaining 0.70 percent to
Leading and Lagging Sectors Technology stocks gained Friday,
with Parametric Sound (NASDAQ:
) leading advancers after the company provided post merger update
and outlook. Among the leading sector stocks, gains came from
21Vianet Group (NASDAQ:
), BlackBerry (NASDAQ:
), Canadian Solar (NASDAQ:
), and Veeco Instruments (NASDAQ:
). In trading on Friday, utilities shares rose by just 0.17
percent. Among the sector stocks, Exterran Partners LP (NASDAQ:
) was down more than 5.3 percent, while PG&E (NYSE:
) tumbled around 3.7 percent.
Top Headline BlackBerry (NASDAQ:
) posted a narrower-than-expected fourth-quarter loss.
BlackBerry posted a quarterly net loss of $423 million, or
$0.80 per share, versus a year-ago profit of $98 million, or
$0.19 per share. Its loss from continuing operations came in at
$423 million, or $0.80 per share, compared to a year-ago profit
of $94 million, or $0.18 per share. BlackBerry's adjusted loss
from continuing operations came in at $0.08 per share.
Its revenue slipped 64% to $976 million. However, analysts
were estimating a loss of $0.56 per share on revenue of $1.17
billion. BlackBerry sold around 3.4 million smartphones in the
quarter.Equities Trading UP BlackBerry (NASDAQ:
) shares shot up 4.64 percent to $9.47 after the company posted a
fourth-quarter loss. BlackBerry sold around 3.4 million
smartphones in the quarter.
Shares of Restoration Hardware Holdings (NYSE:
) got a boost, shooting up 11.47 percent to $71.13 after the
company reported adjusted Q4 earnings of $0.83 per share on
revenue of $471.7 million. However, analysts were estimating
earnings of $0.82 per share on revenue of $491.3 million. The
company also issued a strong first-quarter profit forecast.
Ariad Pharmaceuticals (NASDAQ:
) was also up, gaining 6.71 percent to $8.11 on a report from the
UK Daily Mail that Jazz Pharmaceuticals is willing to pay $20.00
per share for the maker of Iclusig.
Equities Trading DOWN
Shares of Aviva plc (NYSE:
) were down 7.25 percent to $14.94 after the company announced
its plans to sell US equity manager River Road to Affiliated
Caesars Entertainment (NASDAQ:
) shares tumbled 6.69 percent to $19.67 session after the company
announced an offering of 7 million shares of common stock.
) was down, falling 4.51 percent to $22.03 after the company
priced 4.5 million
shares of its common stock at $21.00 per share.
In commodity news,
oil traded up 0.58 percent
to $101.87, while gold traded down 0.26 percent to $1,291.40.
Silver traded up 0.57 percent Friday to $19.82, while copper
rose 1.65 percent to $3.04.
Eurozone European shares
The Spanish Ibex Index rose 0.83 percent, while Italy's FTSE
MIB Index gained 1.33 percent.
Meanwhile, the German DAX surged 0.86 percent and the French
CAC 40 climbed 0.28 percent while U.K. shares gained 0.11
Economics US consumer spending rose 0.3%, while personal
income climbed 0.3% in February. However, economists were
expecting a 0.3% increase in spending and a 0.3% gain in personal
The final reading of the Reuter's/University of Michigan's
consumer sentiment index rose to 80.00 in March, versus a
preliminary March reading of 79.90. However, economists were
expecting a reading of 80.50.
Data on farm prices for March will be released at 3:00 p.m.
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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