Toward the end of trading Wednesday, the Dow traded down 0.55
percent to 16,439.39 while the NASDAQ rose 0.10 percent to
4,157.85. The S&P also fell, dropping 0.17 percent to
Top Headline Monsanto Co (NYSE:
) reported a
rise in its fiscal
Monsanto's quarterly profit surged to $368 million, or $0.69
per share, versus a year-ago profit of $339 million, or $0.63 per
Its net sales jumped to $3.14 billion from $2.94 billion.
However, analysts were projecting earnings of $0.64 per share on
sales of $3.07 billion. Monsanto reaffirmed full-year 2014
earnings of $5.02 to $5.22 per share.
Equities Trading UP Shares of Forest Laboratories (NYSE:
) got a boost, shooting up 18.02 percent to $69.35 after the
company announced its plans to acquire Aptalis for $2.9
Apollo Education Group (NASDAQ:
) shot up 13.57 percent to $30.59 after the company reported an
upbeat Q1 profit
and raised its FY14 outlook. Compass Point upgraded the stock
from Sell to Neutral and lifted the price target from $20.00 to
Micron Technology (NASDAQ:
) was also up, gaining 9.53 percent to $23.80 after the company
fiscal first-quarter results.
Equities Trading DOWN Shares of The Container Store Group
) were down 15.02 percent to $38.92 on Q3 results. Bank of
downgraded the stock
from Buy to Neutral.
J. C. Penney Company (NYSE:
) tumbled 10.01 percent to $7.38 after the company reaffirmed its
Q4 Outlook. The company also said that it is pleased with its
Questcor Pharmaceuticals (NASDAQ:
) was also down, falling 4.92 percent to $50.41 after news broke
that Chronic Disease Fund enrollment had stopped on negative
indicators from its drug Acthar.
Commodities In commodity news, oil traded down 1.31 percent to
$92.44, while gold traded down 0.26 percent to $1,226.90.
Silver traded down 1.60 percent Wednesday to $19.56, while
copper fell 0.60 percent to $3.34.
Eurozone European shares were mostly lower today. The Spanish
Ibex Index rose 0.47 percent, while Italy's FTSE MIB Index
dropped 0.39 percent. Meanwhile, the German DAX declined 0.25
percent and the French CAC 40 fell 0.04 percent while U.K. shares
dropped 0.53 percent.
Economics The MBA's index of mortgage application activity
rose 2.60% in the week ended January 3, 2014.
Private-sector employers added 238,000 jobs in December,
according to Automatic Data Processing Inc. However, economists
were expecting an addition of 200,000 jobs.
Crude supplies dropped by 2.7 million barrels for the week
ended January 3, the US Energy Information Administration
reported. However, analysts were expecting a fall of 3.3 million
The Federal Open Market Committee will issue minutes of its
latest meeting at 2:00 p.m. ET.
Data on consumer credit for November will be released at 3:00
(c) 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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