Toward the end of trading Friday, the Dow traded up 0.10
percent to 16,439.38 while the NASDAQ tumbled 0.47 percent to
4,331.32. The S&P also fell, dropping 0.01 percent to
Leading and Lagging Sectors Industrials stocks gained Friday,
with ATA (NASDAQ:
) leading advancers. Meanwhile, gainers in the sector included
Plug Power (NASDAQ:
), with shares up 22 percent, and Korn/Ferry International (
), with shares up 12 percent. In trading on Friday, basic
materials shares were relative laggards, down on the day by about
Among the sector stocks, Amyris (NASDAQ:
) was down more than 4.5 percent, while Southern Copper (NYSE:
)tumbled around 6.3 percent.
Top Headline Big Lots (NYSE:
) reported better-than-expected fourth-quarter earnings. For the
new fiscal year, Big Lots expects earnings from continuing
operations of $2.25 to $2.45 per share, versus analysts'
estimates of $2.44 per share. Big Lots posted its quarterly
profit of $84.4 million, or $1.45 per share, versus a year-ago
profit of $120.3 million, or $2.09 per share. Analysts were
expecting earnings of $1.40 per share. Its revenue slipped 6.2%
to $1.64 billion, versus analysts' expectations for $1.61
billion. Big Lots' gross margin declined to 38.2% from 39.7%.
Equities Trading UP Plug Power (NASDAQ:
) traded up on Friday's session, gaining 23.58 percent to $7.86
after the company's secondary offering failed to startle the
street while its appearance on CNBC further extended its
Shares of Big Lots (NYSE:
) got a boost, shooting up 21.81 percent to $35.63 after the
reported upbeat quarterly
results and announced the promotion of Timothy A. Johnson to
Executive Vice President, Chief Financial Officer.
Foot Locker (NYSE:
) was also up, gaining 8.07 percent to $46.19 as the company
Equities Trading DOWN Shares of Analogic (NASDAQ:
) were down 16.00 percent to $80.11 after the company reported
downbeat Q2 earnings. CJS Securities downgraded the stock from
Market Outperform to Market Perform and cut the price target from
$97.00 to $90.00.
Progress Software (NASDAQ:
) shares tumbled 11.15 percent to $22.82 after the company issued
a weak Q1 forecast.
) was also down, falling 9.35 percent to $81.20 after the
company's secondary offering lead to fear on the street.
Commodities In commodity news,
oil traded up 0.94 percent
to $102.51, while gold traded down 0.96 percent to $1,339.20.
Silver traded down 2.90 percent Friday to $20.85, while copper
fell 4.26 percent to $3.08.
Eurozone European shares
The Spanish Ibex Index fell 1.36 percent, while Italy's FTSE
MIB Index slipped 0.98 percent.
Meanwhile, the German DAX dropped 2.01 percent and the French
CAC 40 declined 1.15 percent while U.K. shares fell 1.05
Economics The US economy added 175,000 jobs in February, while
the unemployment rate climbed to 6.7% versus 6.6%. However,
economists were estimating an addition of 149,000 nonfarm jobs in
The US trade deficit widened to $39.1 billion in January,
versus a revised $39 billion in December. However, economists
were expecting a deficit of $39.7 billion.
The country's imports climbed by 0.6%, while exports also
increased by 0.6% in the month.
Data on consumer credit for January will be released at 3:00
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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