Midway through trading Thursday, the Dow traded up 0.01
percent to 16,168.95 while the NASDAQ tumbled 0.32 percent to
4,056.89. The S&P also fell, dropping 0.14 percent to
Top Headline Rite Aid (NYSE:
) reported a
in its fiscal third-quarter earnings.
For the fiscal year, Rite Aid lowered its earnings forecast to
$0.17 to $0.23 per share, on revenue of $25.3 billion to $25.425
billion. The company had earlier expected earnings of $0.18 to
$0.27 per share, on revenue of $25.1 billion to $25.3
Rite Aid's quarterly profit surged to $71.5 million, from
$61.9 million, in the year-ago period. On a per-share basis, its
earnings fell to $0.04 per share from $0.07. Its revenue rose
1.9% to $6.36 billion. However, analysts were estimating earnings
of $0.04 per share on revenue of $6.32 billion.
Equities Trading UP IAC/InterActiveCorp (NASDAQ:
) shot up 15.44 percent to $69.37 after the company reported that
it is reorganizing
and that Greg Blatt, its CEO, will become the Chairman of the
newly created Match Group.
Shares of AK Steel Holding (NYSE:
) got a boost, shooting up 16.14 percent to $7.34 after the
company issued upbeat Q4 earnings forecast.
) was also up, gaining 4.87 percent to $36.28 after the company
upbeat fiscal second-quarter
Equities Trading DOWN Shares of Semtech (NASDAQ:
) were down 13.43 percent to $24.30 on lowered forecast. Raymond
James downgraded the stock from Strong Buy to Outperform.
Rite Aid (NYSE:
) shares tumbled 8.85 percent to $5.25 after the company lowered
its outlook for the fiscal year.
Darden Restaurants (NYSE:
) was down, falling 4.58 percent to $50.49 after the company
reported a drop
in its second-quarter profit. For the FY14, Darden projects
earnings to fall 15% to 20% versus the earlier year.
Commodities In commodity news,
oil traded up 0.92 percent
to $98.70, while gold traded down 3.11 percent to $1,196.60.
Silver traded down 4.26 percent Thursday to $19.21, while
copper fell 0.95 percent to $3.29.
Eurozone European shares today. The Spanish Ibex Index gained
2.34 percent, while Italy's FTSE MIB Index climbed 1.78 percent.
Meanwhile, the German DAX surged 1.68 percent and the French CAC
40 jumped 1.64 percent while U.K. shares gained 1.43 percent.
Economics U.S. initial claims rose by 10,000 to 379,000 in the
week ended December 14. However, economists were expecting
jobless claims to decline to 336,000 in the week.
Sales of existing U.S. homes declined 4.3% to an annual rate
of 4.9 million in November. However, economists were projecting a
pace of 5.02 million.
The Philadelphia Fed manufacturing index rose to 7.00 in
December, versus a prior reading of 6.50. However, economists
were expecting a reading of 10.00.
The leading economic index climbed 0.8% to 98.3 in November,
versus 97.5 in the earlier month.
The Bloomberg Consumer Comfort Index rose to minus 29.4 in the
week ended December 15, versus minus 30.9 in the prior
Supplies of natural gas declined 285 billion cubic feet for
the week ended December 13, the US Energy Information
Administration reported. However, economists were expecting a
fall of 260 billion cubic feet to 264 billion cubic feet.
The Treasury is set to auction 7-year notes.
Data on money supply will be released at 4:30 p.m. ET.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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