Following the market opening Wednesday, the Dow traded up 0.41
percent to 16,440.23 while the NASDAQ surged 0.58 percent to
4,207.45. The S&P also rose, gaining 0.38 percent to
Top Headline Bank of America (NYSE:
) reported a
in its fourth-quarter profit.
Bank of America's quarterly profit surged to $3.44 billion,
from a year-ago profit of $732 million. On a per-share basis, it
earned $0.29, versus analysts' estimates of $0.26 per share.
Its revenue surged 15% to $21.49 billion, versus analysts'
estimates of $21.24 billion. The bank's consumer real estate
division posted a loss of $1.06 billion.
Equities Trading UP Shares of NuVasive (NASDAQ:
) got a boost, shooting up 8.70 percent to $36.72 after the
company issued upbeat FY14 revenue forecast.
Intercept Pharmaceuticals (NASDAQ:
) shot up 5.08 percent to $268.07 on Bank of America's
reiteration of $872 price target and a Buy rating.
NQ Mobile (NYSE:
) was also up, gaining 13.36 percent to $15.78
'Sprint Live' news.
Equities Trading DOWN Shares of The ExOne Company (NASDAQ:
) were down 9.07 percent to $56.61 after the company
lowered its 2013
revenue guidance. Canaccord Genuity downgraded the stock from Buy
to Hold and cut the price target from $75.00 to $55.00.
Fastenal Company (NASDAQ:
) tumbled 5.85 percent to $45.39 after the company
Kosmos Energy (NYSE:
) was down, falling 6.39 percent to $10.40 after the company
issued its 2014
Commodities In commodity news, oil traded up 0.51 percent to
$93.06, while gold traded down 0.75 percent to $1,236.10.
Silver traded down 1.17 percent Wednesday to $20.05, while
copper fell 0.33 percent to $3.33.
Eurozone European shares were higher today. The Spanish Ibex
Index rose 0.27 percent, while Italy's FTSE MIB Index gained 1.13
percent. Meanwhile, the German DAX climbed 1.34 percent and the
French CAC 40 rose 0.66 percent while U.K. shares gained 0.64
Economics The MBA's index of mortgage application activity
rose 11.90% in the week ended January 10, 2014.
The Empire State manufacturing index rose to 12.51 in January,
versus a revised 2.22 in December. However, economists were
expecting a reading of 3.50 in January.
The producer price index rose 0.40% in December, while the
core PPI gained 0.30% in the month. However, economists were
expecting a 0.40% gain in the overall PPI and a 0.10% surge in
the core index.
The Federal Open Market Committee will release its latest
Beige Book report at 2:00 p.m. ET.
(c) 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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