Midway through trading Thursday, the Dow traded up 0.23
percent to 16,235.46 while the NASDAQ surged 0.36 percent to
4,307.65. The S&P also rose, gaining 0.23 percent to
Leading and Lagging Sectors Thursday morning, the basic
materials sector proved to be a source of strength for the
market. Basic materials sector gained 0.81% in today's trading.
Leading the sector was strength from Kraton Performance Polymers
) and Materion (NYSE:
Utilities sector was the only decliner in the US market today,
down on the day by 0.02 percent. Among the sector stocks,
Exterran Partners LP (NASDAQ:
) was down more than 3.2 percent, while AES (NYSE:
) tumbled around 2.5 percent.
Top Headline Best Buy Co (NYSE:
) posted a profit in the fourth quarter. Best Buy swung to a
quarterly profit of $293 million, or $0.83 per share, versus a
year-ago loss of $409 million, or $1.21 per share. Its adjusted
operating income from continuing operations came in at $1.24 per
share. Its revenue slipped to $14.47 billion versus $14.92
billion. However, analysts were projecting earnings of $1.01 per
share on sales of $14.67 billion.
Equities Trading UP J. C. Penney Company (NYSE:
) shot up 23.32 percent to $7.35 after the company reported a
Shares of Amerisafe (NASDAQ:
) got a boost, shooting up 12.76 percent to $44.44 after the
company reported Q4 results and lifted its dividend.
Best Buy Co (NYSE:
) was also up, gaining 5.69 percent to $27.29 after the company
profit in the fourth quarter.
Equities Trading DOWN Shares of Inovio Pharmaceuticals (NYSE:
) were down 8.31 percent to $3.42 as the company announced the
pricing of public offering of common stock.
Noodles & Company (NASDAQ:
) shares tumbled 8.01 percent to $36.38 after the company
Chico's FAS (NYSE:
) was down, falling 7.56 percent to $16.64 after the company
reported fourth-quarter results.
Commodities In commodity news,
oil traded down 0.58 percent
to $101.99, while gold traded up 0.40 percent to $1,333.30.
Silver traded up 0.36 percent Thursday to $21.37, while copper
fell 0.50 percent to $3.20.
Eurozone European shares
The Spanish Ibex Index fell 0.59 percent, while Italy's FTSE
MIB Index fell 0.38 percent.
Meanwhile, the German DAX slipped 0.68 percent and the French
CAC 40 dropped 0.01 percent while U.K. shares gained 0.16
US initial jobless claims rose 14,000 to 348,000 in the week
ended February 22. However, economists were projecting claims to
reach 335,000 in the week.
Orders for durable goods declined 1.0% in January, versus
economists' expectations for a 1.7% drop.
US core durable-goods orders rose 1.10% in the month.
The Bloomberg Consumer Comfort Index rose to -28.60 for the
week ended February 23, versus a prior reading of -30.60.
The Kansas City Fed manufacturing index fell to 4.00 in
February, versus a prior reading of 5.00. However, economists
were expecting a reading of 2.00.
Supplies of natural gas declined 95 billion cubic feet for the
week ended February 21, the Energy Information Administration
reported. However, analysts were expecting a fall of 102 billion
cubic feet to 106 billion cubic feet.
Data on money supply will be released at 4:30 p.m. ET.
(c) 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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