Following the market opening Tuesday, the Dow traded up 0.61
percent to 16,375.80 while the NASDAQ surged 0.98 percent to
4,267.66. The S&P also rose, gaining 0.62 percent to
Leading and Lagging Sectors In trading on Tuesday, basic
materials shares were relative leaders, up on the day by about
1.37 percent. Top gainers in the sector included Amyris (NASDAQ:
), with shares up 5 percent, and Gold Fields (NYSE:
), with shares up 4.2 percent.
Utilities sector gained by just 0.03% in the US market today.
Among the sector stocks, Atlas Energy LP (NYSE:
) was down more than 1.3 percent, while FirstEnergy (NYSE:
) tumbled around 1.35 percent.
Top Headline Walgreen Co (NYSE:
) reported a drop in its second-quarter profit and announced its
plans to close 76 stores. Walgreen's quarterly net income fell to
$754 million, or $0.78 per share, versus a year-ago profit of
$756 million, or $0.79 per share. Excluding one-time items, it
earned $0.91 per share. Its sales climbed 5.1% to $19.61 billion,
while same-store sales climbed 4.3%. However, analysts were
expecting earnings of $0.93 per share on sales of $19.6 billion.
Its gross profit margin declined 1.3 percentage points to 28.8%
Equities Trading UP Sonic (NASDAQ:
) shares shot up 10.21 percent to $23.06 after the company
fiscal second-quarter earnings. Sonic posted its quarterly
earnings of $0.07 per share on revenue of $109.7 million.
However, analysts were projecting a profit of $0.06 per share on
revenue of $110.3 million.
Shares of Endocyte (NASDAQ:
) got a boost, shooting up 4 percent to $28.31 after Wedbush
added the stock to Best Ideas List and raised the price target to
Walgreen Co (NYSE:
) was also up, gaining 4.18 percent to $67.00 after the company
reported a drop
in its second-quarter profit and announced its plans to close 76
Equities Trading DOWN Shares of Himax Technologies (NASDAQ:
) were down 11.81 percent to $11.80 after falling 4.77% on
Monday. Bank of America downgraded the stock to underperform.
G-III Apparel Group (NASDAQ:
) shares tumbled 5.47 percent to $70.39 on Q4 results. G-III
Apparel reported its Q4 earnings of $0.62 per share on revenue of
$472.80 million. The company expected FY15 earnings of $3.95 to
$4.10 per share, versus analysts' estimates of $4.30 per
) was down, falling 2.27 percent to $39.09 after the company
reported Q1 results. Carnival reported its Q1 earnings of $0.00
per share on revenue of $3.585 billion.
Commodities In commodity news,
oil traded up 0.47 percent
to $100.07, while gold traded up 0.09 percent to $1,312.30.
Silver traded up 0.04 percent Tuesday to $20.08, while copper
rose 1.66 percent to $2.99.
Eurozone European shares
The Spanish Ibex Index rose 0.87 percent, while Italy's FTSE
MIB Index climbed 1.32 percent.
Meanwhile, the German DAX jumped 1.70 percent and the French
CAC 40 rose 1.48 percent while U.K. shares surged 1.18
Economics The ICSC-Goldman same-store sales index dropped 1.5%
in the week ended Saturday versus the earlier week.
The Johnson Redbook Retail Sales Index declined 0.4% in the
first three weeks of March versus February.
US home prices fell 0.1% in January, according to
S&P/Case-Shiller's composite index. US home prices climbed
0.8% in January after seasonal adjustments.
Sales of new US homes dropped 3.3% to an annual rate of
440,000 in February. However, economists were expecting sales to
reach 445,000 last month.
The Richmond Fed manufacturing index declined to -7.00 in
March, versus a prior reading of -6.00. However, economists were
expecting a reading of 4.00.
The Conference Board's consumer confidence index rose to 82.30
in March, versus economists' expectations for a reading of 78.50.
US home prices climbed 0.5% in January, and rose 7.4% y/y.
The Treasury is set to auction 4-week bills and 2-year
© 2014 Benzinga.com. Benzinga does not provide investment
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