Toward the end of trading Tuesday, the Dow traded up 0.70
percent to 16,540.52 while the NASDAQ surged 0.95 percent to
4,152.56. The S&P also rose, gaining 0.62 percent to
Top Headline IHS (NYSE:
) reported an
profit. IHS projects FY14 subscription revenue to rise 6% to 7%.
The company projects total revenue of $2.17 to $2.23 billion and
an adjusted profit of $5.50 to $5.85 per share.
However, analysts projected a profit of $5.58 per share on
revenue of $2.2 billion. IHS posted its quarterly net income at
$40.8 million, or $0.60 per share, versus a year-ago profit of
$46.4 million, or $0.69 per share.
Excluding items, it earned $1.46 per share, versus analysts'
estimates of $1.27 per share. Its revenue climbed 35% to $559.7
million, while subscription revenue jumped 38%. However, analysts
were projecting revenue of $534.8 million.
Equities Trading UP Shares of Neurocrine Biosciences (NASDAQ:
) got a boost, shooting up 85.91 percent to $18.15 after the
reported positive results
of VMAT2 inhibitor NBI-98854 in Kinect 2 study.
) was also up, gaining 11.52 percent to $8.81 after the company
affirmed its fourth quarter revenue guidance which came in above
the street's consensus.
) was also up, gaining 7.77 percent to $22.48 after the company
plans to acquire
Stream Global Services for $820 million in cash. Convergys also
reaffirmed its outlook for 2013.
Equities Trading DOWN Shares of Textura (NYSE:
) took a hit on Tuesday's session, falling 11.19 percent to
$28.40 after Citron research released a scathing report on the
PBF Energy (NYSE:
) tumbled 4.98 percent to $28.42 after the company
priced secondary offering
of 15 million shares at $28 per share.
Gulfport Energy (NASDAQ:
) was down, falling 6.08 percent to $55.62 after the company
reported 2013 exit rate of 27,780 barrels of oil equivalent per
day. RBC Capital downgraded Gulfport Energy from Outperform to
Sector Perform and cut the price target from $64.00 to
Commodities In commodity news, oil traded up 0.32 percent to
$93.73, while gold traded down 0.65 percent to $1,230.00. Silver
traded down 1.94 percent Tuesday to $19.79, while copper rose
0.01 percent to $3.36.
Eurozone European shares were higher today. The Spanish Ibex
Index rose 2.93 percent, while Italy's FTSE MIB Index surged 1.22
percent. Meanwhile, the German DAX climbed 0.83 percent and the
French CAC 40 rose 0.83 percent while U.K. shares climbed 0.37
Economics The ICSC-Goldman Sachs store sales index dropped
5.4% in the week ended Saturday versus the earlier week. The
Johnson Redbook Retail Sales Index fell 0.6% in December versus
November. US trade deficit declined around 13% to $34.3 billion
in November, versus a revised $39.3 billion in the earlier month.
However, economists were expecting a deficit of $40.0 billion.
The Treasury is set to auction 3-year notes.
(c) 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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