Toward the end of trading Thursday, the Dow traded up 0.28
percent to 15,002.23 while the NASDAQ rose 0.37 percent to
3,414.87. The S&P also rose, gaining 0.6 1 percent to
Top Headline J.M. Smucker Co (NYSE:
) reported a 25% rise in its fourth-quarter profit.
Smucker's quarterly profit surged to $130.3 million, or $1.22
per share, versus $104.1 million, or $0.93 per share, in the
year-ago period. Its adjusted earnings came in at $1.29 per
Its revenue declined to $1.34 billion from $1.36 billion.
However, analysts were projecting earnings of $1.16 per share on
revenue of $1.35 billion. Smucker expects 2014 adjusted earnings
of $5.65 to $5.75.
Equities Trading UP Ciena (NASDAQ:
) shot up 17.01 percent to $19.08 after the company posted a
profit in the second quarter.
Shares of Conns (NASDAQ:
) got a boost, shooting up 9.14 percent to $52.89 after the
company reported a 92% rise in its fiscal first-quarter
JDS Uniphase (NASDAQ:
) was up as well, gaining 7.88 percent to $14.17, possibly
related to the Ciena report this morning.
Equities Trading DOWN VeriFone Systems (NYSE:
) was down, falling 20.82 percent to $17.38 after the company
reported downbeat second-quarter results and issued a weak
Shares of Vera Bradley (NASDAQ:
) were down 7.95 percent to $20.67 after the company announced
the resignation of its CEO Michael Ray. The company also lowered
its fiscal year profit and sales forecast.
Ascena Retail Group (NASDAQ:
) was down as well, falling 9.01 percent to $18.08 after the
company lowered its fiscal year EPS guidance following the close
Commodities In commodity news, oil traded up 0.97 percent to
$94.41, while gold traded up 0.95 percent to $1,411.80.
Silver traded up 0.42 percent Thursday to $22.50, while copper
fell 1.39 percent to $3.32.
Eurozone European shares were lower today. France's
unemployment rate rose to 10.8 percent in the first quarter but
was better than the expected 10.9 percent. Further, the fourth
quarter's reading was revised lower to 10.5 percent from 10.6
percent, although the numbers still remain high in absolute
The Spanish Ibex Index fell 0.72 percent and the Italian FTSE
MIB Index dropped 2.63 percent. Meanwhile, the German DAX
declined 1.19 percent and the French CAC 40 fell 0.99 percent
while U.K. shares dropped 1.30 percent.
Economics US jobless claims declined by 11,000 to 346,000 in
the week ended June 1. However, economists were expecting claims
to decline to 345,000.
Monthly job cuts dropped 41% y/y in May, outplacement
consultancy Challenger, Gray & Christmas reported.
The Bloomberg Consumer Comfort Index came in at -29.70 in the
week ended June 2, versus a prior reading of -29.70.
Natural-gas inventories climbed by 111 billion cubic foot for
the week ended May 31, the US Energy Information Administration
reported. However, analysts were expecting a rise between 93
billion cubic feet and 97 billion cubic feet.
(c) 2013 Benzinga.com. Benzinga does not provide investment
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