Following the market opening Friday, the Dow traded up 0.20
percent to 15,026.53 while the NASDAQ gained 0.48 percent to
3,792.41. The S&P also rose, surging 0.29 percent to
Top Headline Yesterday, Comtech Telecommunications (NASDAQ:
) reported upbeat fiscal fourth quarter results and issued a
strong full-year outlook.
Comtech's quarterly earnings fell to $5.2 million, or $0.28
per share, from $7.9 million, or $0.38 per share, in the year-ago
quarter. However, analysts were expecting earnings of $0.21 per
share. Its revenue declined to $84.4 million from $112.8
For its 2014 fiscal year, Comtech projects to earn $1.07 to
$1.19 per share on revenue of $320 million to $340 million.
Analysts estimated earnings of $1.04 per share.
Equities Trading UP Harte-Hanks (NYSE:
) shot up 6.51 percent to $8.51 after BMO Capital upgraded the
stock from Market Perform to Outperform.
Shares of Moneygram International (NYSE:
) got a boost, shooting up 5.97 percent to $19.52 after analysts
Compass Point upgraded
the stock from Neutral to Buy.
) was also up, gaining 1.52 percent to $49.93. Facebook's
Instagram reported that it will introduce advertisements in the
coming months. Sterne Agee raised the price target on the stock
from $50.00 to $58.00.
Equities Trading DOWN Shares of Aaron's (NYSE:
) were down 4.12 percent to $26.52 after the company lowered its
Lannett Company (NYSE:
) shares tumbled 11.04 percent to $18.62 after the company priced
an underwritten public offering of 5,869,566 shares of common
stock at a price of $18.00 per share.
) was down, falling 2.02 percent to $25.16 after Citigroup
downgraded downgraded the stock from Buy to Neutral.
Commodities In commodity news,
oil traded up 0.70 percent
to $104.02, while gold traded up 0.05 percent to $1,318.20.
Silver traded down 0.12 percent Friday to $21.76, while copper
rose 1.30 percent to $3.31.
Eurozone European shares
today. The Spanish Ibex Index rose 0.87 percent, while Italy's
FTSE MIB Index surged 1.38 percent. Meanwhile, the German DAX
rose 0.03 percent and the French CAC 40 climbed 0.74 percent
while U.K. shares gained 0.18 percent.
Economics On the economics calendar Friday, there is no
important data due out.
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