Following the market opening Thursday, the Dow traded up 0.02
percent to 16,200.98 while the NASDAQ gained 0.06 percent to
4,294.57. The S&P also rose, gaining 0.01 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
0.21% in today's trading. Leading the sector was strength from
Kraton Performance Polymers (NYSE:
) and Sinopec Shanghai Petrochemical Co (NYSE:
Financial sector was the leading decliner in the US market
today, down on the day by 0.25 percent. Among the financial
stocks, Walter Investment Management (NYSE:
) was down more than 13.2 percent, while Campus Crest Communities
) tumbled around 8.4 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 22.15 percent to $7.28 after the company reported a
fourth-quarter loss Shares of Amerisafe (NASDAQ:
) got a boost, shooting up 9.39 percent to $43.11 after the
company reported Q4 results and lifted its dividend. Best Buy Co
) was also up, gaining 4.84 percent to $27.07 after the company
profit in the fourth quarter.
Equities Trading DOWN Shares of Inovio Pharmaceuticals (NYSE:
) were down 9.65 percent to $3.37 as the company announced the
pricing of public offering of common stock. Noodles & Company
) shares tumbled 10.24 percent to $35.50 after the company
fourth-quarter results. Chico's FAS (NYSE:
) was down, falling 7.94 percent to $16.57 after the company
reported fourth-quarter results.
Commodities In commodity news,
oil traded up 0.46 percent
to $103.06, while gold traded up 0.30 percent to $1,332.00.
Silver traded up 0.24 percent Thursday to $21.34, while copper
fell 0.62 percent to $3.20.
Eurozone European shares
The Spanish Ibex Index fell 0.96 percent, while Italy's FTSE
MIB Index fell 0.64 percent.
Meanwhile, the German DAX slipped 1.02 percent and the French
CAC 40 dropped 0.31 percent while U.K. shares declined 0.24
Economics 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
Treasury is set to auction 3-month, 6-month and 52-week
The Treasury will also auction 7-year notes.
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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