Following the market opening Monday, the Dow traded up 0.69
percent to 15,220.16, while the NASDAQ rose 0.12 percent to
3,460.18. The S&P was also up, gaining 0.38 percent to
Top Headline Cracker Barrel Old Country Store (NASDAQ:
) reported a 30% rise in its fiscal third-quarter earnings.
Cracker Barrel lifted its earnings forecast for the year to
$4.75 to $4.85 per share, versus its earlier forecast of $4.60 to
$4.80 per share.
Cracker Barrel's quarterly profit surged to $24.6 million, or
$1.02 per share, from $19 million, or $0.81 per share, in the
year-ago period. The company had earlier expected earnings of
$0.90 to $0.95 per share. Its revenue rose 5.2% to $640.4
million, versus analysts' estimates of $631 million.
Equities Trading UP Colonial Properties Trust (NYSE:
) shot up, gaining 6.65 percent to $23.58, after Mid-America
Apartment Communities (NYSE:
) agreed to buy the company.
) was also up 5.26 percent to $7.0101 after the company completed
a Phase 3 clinical study of AFREZZA.
Cracker Barrel Old Country Store (NASDAQ:
) got a boost, shooting up 6.86 percent to $95.60 after the
company reported a 30% rise in its fiscal third-quarter earnings
and lifted its earnings forecast for the year
Equities Trading DOWN Infinity Pharmaceuticals (NASDAQ:
) was down, falling 19.44 percent to $21.71 on Phase 1 data.
The Descartes Systems Group (NASDAQ:
) shares tumbled 6.47 percent to $11.13 after the company
announced election of Directors.
BioMarin Pharmaceutical (NASDAQ:
) was down 6.47 percent to $58.65 after the company reported
preliminary data on the ongoing Phase 1/2 study for its poly
ADP-ribose polymerase (PARP) inhibitor BMN 673.
Commodities In commodity news, oil traded up 0.51 percent to
$92.44, while gold gained 0.14 percent to $1,394.50.
Silver traded up 1.25 percent Monday to $22.52, while copper
rose 0.94 percent to $3.32.
Eurozone European shares traded mixed following the stronger
than expected PMI reports across the continent. The Eurozone
Manufacturing PMI rose to 48.3 in May from 47.8 in April on
expectations of a flat reading with all major countries reporting
better than expected results in the report.
The Spanish Ibex Index rose 0.12 percent and the Italian FTSE
MIB Index dropped 0.01 percent. Meanwhile, the German DAX rose
0.17 percent and the French CAC 40 gained 0.05 percent while U.K.
shares declined 1.48 percent.
Economics The final reading of Markit's manufacturing PMI rose
to 52.3 in May, up from 52.1 in April.
The ISM manufacturing index fell to 49.00 in May, versus a
reading of 50.70 in April. However, economists were expecting a
reading of 51.00.
Construction spending surged 0.4% to an annual rate of $860.8
billion in April. However, economists were expecting spending to
The Treasury is set to hold its weekly 3- and 6-month bill
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
Profit with More New & Research
. Gain access to a streaming platform with all the information
you need to invest better today.
Click here to start your 14 Day Trial of Benzinga