Midway through trading Wednesday, the Dow traded up 0.58
percent to 14,846.10 while the NASDAQ gained 0.66 percent to
3,370.10. The S&P rose, surging 0.59 percent to 1,597.43.
Top Headline Monsanto (NYSE:
) reported a 3% drop in its third-quarter net profit.
Monsanto's quarterly profit declined to $909 million, or $1.68
per share, versus $937 million, or $1.74 per share, in the
year-ago period. Its adjusted earnings came in at $1.66 per
Its revenue dropped to $4.25 billion from $4.22 billion.
However, analysts were projecting earnings of $1.61 per share on
revenue of $4.41 billion.
Equities Trading UP Synaptics (NASDAQ:
) shot up 10.76 percent to $39.73 after the company lifted its Q4
Shares of Raptor Pharmaceuticals (NASDAQ:
) got a boost, shooting up 20.42 percent to $9.73 after the
) received U.S. orphan drug exclusivity.
) was also up, gaining 4.26 percent to $78.10 after the company
reported upbeat Q3 results.
Equities Trading DOWN Shares of Apollo Group (NASDAQ:
) were down 6.97 percent to $18.03 after the company reported
downbeat third-quarter revenue.
Mistras Group (NYSE:
) was down, falling 11.94 percent to $18.00 after the company
lowered its profit forecast for the year.
First Cash Financial Services (NASDAQ:
) shares tumbled 12.03 percent to $48.56 after the company
lowered its 2013 earnings view.
Commodities In commodity news, oil traded down 0.65 percent to
$94.70, while gold traded down 3.19 percent to $1,234.40.
Silver traded down 4.41 percent Wednesday to $18.69, while
copper fell 0.75 percent to $3.05.
Eurozone European shares were higher today. The German IFO
Institute cut its 2013 growth forecast for Germany to 0.6 percent
from 0.7 percent but is still above the government's forecast of
0.5 percent and the Bundesbank's forecast of 0.3 percent growth.
France's economy contracted 0.2 percent in the first quarter, in
line with estimates and the same from the prior reading. On an
annualized basis, France's economy contracted 0.4 percent.
The Spanish Ibex Index rose 2.83 percent and the Italian FTSE
MIB Index surged 2.03 percent. Meanwhile, the German DAX rose
1.66 percent and the French CAC 40 jumped 2.09 percent while U.K.
shares surged 1 percent.
Economics The US economy grew 1.8% in the first quarter,
versus a prior estimate of 2.4%. However, economists were
projecting growth of 2.4% in the same period.
The MBA purchase applications index dropped 3% versus the
US crude-oil supplies remained unchanged at 394.1 million
barrels for the week ended June 21, the Energy Information
Administration reported. However, analysts were expecting for a 2
The Treasury will auction 5-year notes.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
Profit with More New & Research
. Gain access to a streaming platform with all the information
you need to invest better today.
Click here to start your 14 Day Trial of Benzinga