Toward the end of through trading Friday, the Dow traded up
0.15 percent to 16,442.67 while the NASDAQ declined 0.62 percent
to 4,292.01. The S&P also fell, dropping 0.46 percent to
Top Headline General Electric Co (NYSE:
) reported a
rise in its fourth quarter
GE's quarterly net earnings climbed to $4.2 billion, or $0.41
per share, versus $4.01 billion, or $0.38 per share, in the
year-ago period. Its operating earnings surged to $5.4 billion,
or $0.53 per share.
Its revenue jumped 3% to $40.38 billion. However, analysts
were expecting earnings of $0.53 per share on revenue of $40.27
billion. GE's industrial segment profit jumped 12% to $5.5
Equities Trading UP Shares of NII Holdings (NASDAQ:
) got a boost, shooting up 23.02 percent to $2.95 after the
company announced an agreement with Apple (NASDAQ:
) to bring iPhone to its Nextel Brazil operations.
Electronic Arts (NASDAQ:
) shot up 11.68 percent to $24.06 after CRT Capital initiated
coverage on the stock with a Buy rating and a $26.00 price
Idenix Pharmaceuticals (NASDAQ:
) was also up, gaining a staggering 18.27 percent to $8.08 after
the company presented at JP Morgan's annual healthcare conference
Wednesday, which has created significant buzz in the pharma
sector this week.
Equities Trading DOWN Shares of Silver Spring Networks (NYSE:
) were down 23.66 percent to $17.91 after the company issued
downbeat Q4 forecast. Credit Suisse downgraded the stock from
Outperform to Neutral and cut the price target from $26.00 to
Best Buy (NYSE:
) shares continued to get hammered on Friday's session, falling
8.82 percent to $24.45 after UBS downgraded the stock to a
Neutral rating early in the session.
) was down, falling 3.56 percent to $25.59 after the company
Commodities In commodity news, oil traded up 0.32 percent to
$94.40, while gold traded up 0.94 percent to $1,251.90.
Silver traded up 1.08 percent Friday to $20.32, while copper
rose 0.06 percent to $3.34.
Eurozone European shares were mostly higher today. The Spanish
Ibex Index fell 0.07 percent, while Italy's FTSE MIB Index
climbed 0.29 percent. Meanwhile, the German DAX rose 0.24 percent
and the French CAC 40 surged 0.20 percent while U.K. shares
gained 0.12 percent.
Economics U.S. housing starts dropped 9.8% to an annual rate
of 999,000 in December. However, economists were expecting
housing starts to drop to 985,000 in the month.
U.S. industrial production climbed 0.3% in December, versus
economists' expectations for a 0.3% rise.
The preliminary reading of the Reuter's/University of
Michigan's consumer sentiment index fell to 80.40 in January,
versus a prior reading of 82.50. However, economists were
expecting a reading of 83.50.
(c) 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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