Midway through trading Friday, the Dow traded down 0.12
percent to 16,424.70 while the NASDAQ gained 0.28 percent to
4,167.01. The S&P also rose, gaining 0.15 percent to
Top Headline Alcoa (NYSE:
) reported a
loss in the fourth quarter
Alcoa posted a quarterly loss of $2.34 billion, or $2.19 per
share, versus a year-ago profit of $242 million, or $0.21 per
share. Excluding one-time items, it earned $0.04 per share.
Its revenue dropped 5% to $5.59 billion. However, analysts
were expecting earnings of $0.06 per share on revenue of $5.36
Equities Trading UP Shares of Intercept Pharmaceuticals
) got a boost, shooting up 62.40 percent to $452.02. Citigroup
lifted the price target on the stock from $60.00 to $400.00,
while Bank of America raised the price target from $81.00 to
Plug Power (NASDAQ:
) gained 10.24 percent to $3.66 on Friday's session after the
company priced a 10 million share secondary offering at $3 per
share, apparently pleasing the street.
Francesca's Holdings (NASDAQ:
) was also up, gaining 23.78 percent to $22.36 after the company
narrowed its Q4 revenue forecast to $93 million to $95 million
from $90 million to $95 million. It projects earnings of $0.27 to
$0.29 per share, versus its earlier forecast of $0.25 to $0.29
Equities Trading DOWN Shares of MannKind (NASDAQ:
) were down 15.26 percent to $6.00 after the company announced a
of the FDA advisory committee review of AFREZZA.
) tumbled 15.09 percent to $7.01 as the U.S. District Court in
the Northern District of California ruled against the company's
acquisition of PowerReviews.
Sears Holdings (NASDAQ:
) was down, falling 13.39 percent to $36.87 after the company
reported a 7.4% drop in same-store sales at Kmart and Sears for
the nine-week period ended January 6. The department store
expected to post a loss for the fourth quarter and full year.
Commodities In commodity news, oil traded up 1.23 percent to
$92.79, while gold traded up 1.22 percent to $1,244.00.
Silver traded up 2.32 percent Friday to $20.14, while copper
rose 1.33 percent to $3.34.
Eurozone European shares were higher today. The Spanish Ibex
Index rose 0.49 percent, while Italy's FTSE MIB Index surged 0.24
percent. Meanwhile, the German DAX climbed 0.52 percent and the
French CAC 40 rose 0.49 percent while U.K. shares gained 0.78
Economics The U.S. economy
added 74,000 jobs
in December, while the unemployment rate declined to 6.7% from
7.0%. However, economists were projecting an addition of 197,000
jobs and unemployment rate to remain steady at 7.0% in the
U.S. wholesale inventories rose 0.50% in November, versus
economists' expectations for a 0.40% gain. However, wholesale
sales climbed 1% in the month.
(c) 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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