Following the market opening Wednesday, the Dow traded up 0.24
percent to 16,033.30 while the NASDAQ surged 0.50 percent to
4,212.07. The S&P also rose, gaining 0.36 percent to
Leading and Lagging Sectors
In trading on Wednesday, energy shares were relative leaders
after strong Chinese trade data. Energy stocks surged around
0.53% on the day.
Leading the group were shares of Pioneer Energy Services
), up about 5% and shares of Endeavour International (NYSE:
) up about 4.8% on the day.
Shares of BPZ Resources (NYSE:
) also jumped around 6.3% after the company announced new
production from CX15-2D offshore well. Non-Cyclical Consumer
Goods & Services stocks dropped 0.09% in Wednesday's trading,
compared to S&P's 0.27 percent gain.
) was the top decliner in the sector, down 5.6 percent, after
reporting downbeat fourth-quarter earnings.
Top Headline Deere & Co (NYSE:
reported a rise
in its first-quarter profit. Deere's quarterly profit surged to
$681.1 million, or $1.81 per share, versus a year-ago profit of
$649.7 million, or $1.65 per share. Its total net sales climbed
3% to $7.65 billion. However, analysts were projecting earnings
of $1.52 per share on sales of $6.58 billion. For fiscal year
2014, Deere projects equipment sales to decline around 3%. It
also estimates full-year profit of around $3.3 billion.
Equities Trading UP Conversant (NASDAQ:
) shot up 17.48 percent to $25.54 after reporting strong Q4
earnings. Craig-Hallum upgraded the stock from Hold to Buy.
Shares of Kforce (NASDAQ:
) got a boost, shooting up 12.54 percent to $20.73 after the
company issued a strong Q1 outlook.
AMCOL International (NYSE:
) was also up, gaining 12.20 percent to $41.20 after the company
agreed to be acquired
by IMERYS for $41 per share.
Equities Trading DOWN Shares of Jive Software (
) were down 8.12 percent to $8.15 after the company issued a weak
revenue forecast. Morgan Stanley
downgraded the stock
from Overweight to Equal-weight.
The Andersons (NASDAQ:
) shares tumbled 9.57 percent to $77.94 after the company
reported downbeat Q4 results.
WellCare Health Plans (NYSE:
) was down, falling 6.78 percent to $58.00 after the company
reported a 12% drop
in its fourth-quarter earnings.
Commodities In commodity news, oil traded up 1.09 percent to
$101.03, while gold traded up 0.02 percent to $1,290.10.
Silver traded up 0.33 percent Wednesday to $20.22, while
copper rose 0.84 percent to $3.24.
Eurozone European shares were mostly higher today.
The Spanish Ibex Index fell 0.13 percent, while Italy's FTSE
MIB Index climbed 1.05 percent.
Meanwhile, the German DAX surged 0.71 percent and the French
CAC 40 gained 0.57 percent while U.K. shares rose 0.12
The MBA reported that its index of mortgage application
activity fell 2% in the week ended February 7.
The Treasury is set to auction 10-year notes.
The U.S. Treasury monthly budget report for January will be
released at 2:00 p.m. ET.
(c) 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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