Midway through trading Friday, the Dow traded up 0.70 percent
to 16,386.76 while the NASDAQ surged 0.44 percent to 4,338.01.
The S&P also rose, gaining 0.69 percent to 1,867.06.
Leading and Lagging Sectors In trading on Friday, industrials
shares were relative leaders, up on the day by about 0.71
percent. Leading the sector was strength from Maxwell
) and The Standard Register Company (NYSE:
Telecommunications services sector gained 0.12 percent in the
US market today. Among the sector stocks, Iridium Communications
) was down more than 4.5 percent, while America Movil S.A.B. de
) tumbled around 2.3 percent.
Top Headline Pepco Holdings (NYSE:
) reported a
in its fourth-quarter profit. For the year, Pepco projects
earnings of $1.12 to $1.27 per share, versus analysts' estimates
of $1.22 per share. Pepco's quarterly earnings surged to $58
million, or $0.23 per share, versus a year-ago profit of $43
million, or $0.18 per share. Excluding one -time items, its
earnings from continuing operations came in at $0.24 per share.
Its total operating revenue climbed 3.3% to $1.09 billion.
However, analysts were expecting earnings of $0.21 per share on
revenue of $1.11 billion.
Equities Trading UP Central European Media Enterprises
) shot up 74.54 percent to $4.73 after the company reported Q4
Shares of OmniVision Technologies (NASDAQ:
) got a boost, shooting up 8.27 percent to $17.54 after the
company posted better-than-expected Q3 results.
) was also up, gaining 13.48 percent to $47.65 on Q4 results.
Equities Trading DOWN Shares of Endologix (NASDAQ:
) were down 23.48 percent to $13.68 on lowered guidance, analyst
downgrades. Oppenheimer downgraded the stock from Outperform to
Market Perform and cut the price target from $20.00 to
Deckers Outdoor (NASDAQ:
) shares tumbled 13.61 percent to $73.15 after the company
expected a Q1 loss of $0.16 per share. Analysts at Jefferies
downgraded the stock from Buy to Hold and lowered the price
target from $100 to $75.
) was down, falling 14.68 percent to $27.25 after the company
reported fourth-quarter results and announced a new $350 million
share buyback program. BB&T Capital downgraded the stock from
Buy to Hold.
Commodities In commodity news,
oil traded up 0.10 percent
to $102.50, while gold traded down 0.42 percent to $1,326.20.
Silver traded down 0.41 percent Friday to $21.27, while copper
fell 0.34 percent to $3.19 .
Eurozone European shares
were mostly higher
The Spanish Ibex Index fell 0.49 percent, while Italy's FTSE
MIB Index surged 0.60 percent. Meanwhile, the German DAX rose
1.08 percent and the French CAC 40 climbed 0.27 percent while
U.K. shares declined 0.01 percent.
Economics The US economy grew at an annual pace of 2.4% in the
fourth quarter, versus a prior reading of 3.2%. However,
economists were expecting a growth of 2.5%.
The Chicago PMI rose to 59.80 in February, versus a prior
reading of 59.60. However, economists were expecting a reading of
The final reading of the Reuter's/University of Michigan's
consumer sentiment index rose to 81.60 in February, versus a
prior reading of 81.20. However, economists were expecting a
reading of 81.20.
The pending home sales index rose 0.1% in January, versus
economists' expectations for a 1.8% gain.
Data on farm prices will be released at 3:00 p.m. ET.
(c) 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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