Following the market opening Tuesday, the Dow traded up 0.22
percent to 16,293.34 while the NASDAQ surged 0.55 percent to
4,135.84. The S&P also rose, gaining 0.33 percent to
Top Headline J.P. Morgan Chase & Co (NYSE:
) reported a
in its fourth-quarter profit. J.P. Morgan's quarterly profit
declined to $5.3 billion, or $1.30 per share, versus a year-ago
profit of $5.7 billion, or $1.39 per share. Its adjusted earnings
came in at $1.40 per share.
Its revenue dropped 1% to $24.1 billion, versus $24.4 billion.
However, analysts were projecting earnings of $1.32 per share on
revenue of $23.81billion. J.P. Morgan's mortgage originations
tumbled 54% y/y to $23.3 billion, while investment banking net
income slipped 57%.
Equities Trading UP
Shares of Intuitive Surgical (NASDAQ:
) got a boost, shooting up 11.53 percent to $438.40 after the
company issued upbeat Q4 revenue forecast.
VeriFone Systems (NYSE:
) shot up 5.76 percent to $28.99 after JP Morgan upgraded the
stock from Neutral to Overweight.
) was also up, gaining 0.93 percent to $1,133.42 after the
company announced its
plans to acquire
Nest Labs for $3.2 billion. Analysts at Wells Fargo upgraded
Google from Market Perform to Outperform.
Equities Trading DOWN Shares of GameStop (NYSE:
) were down 17.23 percent to $37.51 after the company cut its
profit outlook for the holiday quarter.
Wolverine World Wide (NYSE:
) tumbled 6.09 percent to $30.82 after the company issued weak
revenue forecast for fiscal year 2013.
) was down, falling 6.27 percent to $121.85 after the company
issued downbeat FY14 earnings outlook.
Commodities In commodity news, oil traded up 0.41 percent to
$92.16, while gold traded down 0.18 percent to $1,248.90. Silver
traded down 0.17 percent Tuesday to $20.35, while copper fell
0.07 percent to $3.34.
Eurozone European shares were mostly lower today. The Spanish
Ibex Index fell 0.34 percent, while Italy's FTSE MIB Index
declined 0.10 percent. Meanwhile, the German DAX dropped 0.17
percent and the French CAC 40 fell 0.13 percent while U.K. shares
gained 0.05 percent.
Economics The NFIB Small Business Optimism Index rose to 93.90
in December, versus a prior reading of 92.50. However, economists
were expecting a reading of 93.10. The ICSC-Goldman Sachs store
sales index dropped 1% in the week ended Saturday versus the
US retail sales increased 0.2% in December, versus economists'
estimates for a 0.1% gain. The import price index came in
unchanged in December, while the export index climbed 0.4% in the
US business inventories rose 0.40% in November, versus
economists' expectations for a 0.30% gain. The Treasury is set to
auction 4-week bills.
(c) 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
Free Trading Education -
Check out the free events taking place on Marketfy
this week. Spaces are limited. Sign up today.