Following the market opening Tuesday, the Dow traded up 0.53
percent to 16,536.40 while the NASDAQ surged 0.30 percent to
4,086.49. The S&P also rose, gaining 0.41 percent to
Leading and Lagging Sectors In trading on Tuesday, energy
shares were relative leaders, up on the day by about 1.34
percent. Meanwhile, top gainers in the sector included Stone
), up 9.3 percent, and Westmoreland Coal Co (NYSE:
), up 4.5 percent. Industrials services shares gained by just
0.13 percent in Tuesday's trading.
Top losers in the sector included Chart Industries (NASDAQ:
), Jacobs Engineering Group (NYSE:
), and IPG Photonics (NASDAQ:
Top Headline Merck & Co (NYSE:
) reported a
in its first-quarter profit. Merck's quarterly profit surged to
$1.71 billion, or $0.57 per share, compared to a year-ago profit
of $1.59 billion, or $0.52 per share. Excluding certain items,
Merck earned $0.88 per share, up from $0.85 per share Its revenue
dropped 4% to $10.26 billion versus $10.67 billion. However,
analysts were estimating earnings of $0.79 per share on revenue
of $10.43 billion. Merck reiterated its full-year earnings
forecast of $2.15 to $2.47 per share.
Equities Trading UP Kulicke and Soffa Industries (NASDAQ:
) shares shot up 7.68 percent to $13.60 after the company
reported upbeat Q2 earnings and issued a strong Q3 revenue
Shares of Orbital Sciences (NYSE:
) got a boost, shooting up 22.32 percent to $32.50 after the
company and Allian Techsystems' (NYSE:
) Aerospace and Defense Groups
agreed to combine
to create Orbital ATK.
Banco Santander (Brasil) SA (NYSE:
) shares were also up, gaining 16.78 percent to $6.75 on Q1
results. The company reported Q1 recurring net income of 1.427
billion reais ($637 million).
Equities Trading DOWN Shares of Gogo (NASDAQ:
) were 19.25 percent to $14.84 following news that AT&T
) intended to
launch high-speed 4G
in-flight connectivity service.
Chart Industries (NASDAQ:
) shares tumbled 9.52 percent to $66.85 after the company
reported weaker-than-expected Q1 results and lowered its FY14
The Container Store Group (NYSE:
) was down, falling 10.61 percent to $26.70 on
weaker-than-expected quarterly results.
Commodities In commodity news,
oil traded up 0.58 percent
to $101.42, while gold traded down 0.12 percent to $1,297.50.
Silver traded down 0.76 percent Tuesday to $19.47, while
copper fell 0.48 percent to $3.08.
Eurozone European shares
The Spanish Ibex Index surged 1.12 percent, while Italy's FTSE
MIB Index rose 1.53 percent.
Meanwhile, the German DAX surged 1.18 percent and the French
CAC 40 rose 0.76 percent while U.K. shares gained 0.72
Economics The Federal Open Market Committee will begin its
two-day policy meeting today.
The ICSC-Goldman same-store sales index gained 1.6% in the
week ended April 26 versus the prior week.
The Johnson Redbook Retail Sales Index dropped 0.3% in the
first three weeks of April versus March.
The S&P/Case-Shiller home price index rose 0.76% in
February, versus economists' expectations for a 0.80% gain. On a
year-over-year basis, the index climbed 12.9% in February.
The Conference Board's consumer confidence index came in at
82.30 in April, versus a revised 83.90 in March. However,
economists were expecting a reading of 83.00.
The Treasury is set to auction 4-and 52-week bills.
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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