Following the market opening Tuesday, the Dow traded up 0.37
percent to 15,860.07 while the NASDAQ surged 0.34 percent to
4,162.26. The S&P also rose, gaining 0.30 percent to
Leading and Lagging Sectors Tuesday morning, the basic
materials sector proved to be a source of strength for the U.S.
market after Yellen statement. Huntsman (NYSE:
) shares surged 4.2 percent after reporting strong quarterly
earnings, while China Gerui Advanced Materials Group (NASDAQ:
) gained around 3.7 percent. Utilities sector was the leading
decliner in the market today. This sector fell around 0.13
percent today, while the S&P 500 index gained 0.26 percent.
Among the utilities stocks, Atmos Energy (NYSE:
) was down around 2 percent.Top Headline Sprint (NYSE:
) reported a
net loss. Sprint posted a quarterly loss of $1.04 billion, or
$0.26 per share, versus a year-ago loss of $1.32 billion, or
$0.44 per share. It posted an operating loss of $576 million,
compared to a year--earlier loss of $738 million. Its net
operating revenue surged to $9.14 billion versus $9.01 billion.
However, analysts were estimating a loss of $0.35 per share on
revenue of $8.98 billion. Sprint added 58,000 postpaid
subscribers and 322,000 prepaid subscribers.
Equities Trading UP Cadence Pharmaceuticals (NASDAQ:
) shot up 26.38 percent to $13.99 after Mallinckrodt plc (NYSE:
announced its plans
to acquire Cadence Pharma for $14.00 per share in cash.
Shares of Demandware (NYSE:
) got a boost, shooting up 13.53 percent to $71.99 after the
company reported upbeat Q4 results.
Mallinckrodt plc (NYSE:
) was also up, gaining 9.06 percent to $64.68 after the company
announced its plans to buy Cadence Pharma for $1.3 billion.
Equities Trading DOWN
Shares of Infoblox (NYSE:
) were down 46.53 percent to $17.72 after the company lowered its
FY14 revenue forecast. Wedbush downgraded the stock from
Outperform to Neutral and cut the price target from $36.00 to
) shares tumbled 19.64 percent to $23.06 after the company issued
a weak earnings guidance. Pacific Crest downgraded the stock from
Outperform to Sector Perform.
Rackspace Hosting (NYSE:
) was down, falling 12.46 percent to $35.33 after the company
reported a drop
in its fourth-quarter net income and announced the retirement of
its Chief Executive Lanham Napier.
Commodities In commodity news, oil traded up 0.03 percent to
$100.09, while gold traded up 0.78 percent to $1,284.60. Silver
traded down 0.11 percent Tuesday to $20.09, while copper fell
0.23 percent to $3.22.
Eurozone European shares were higher today. The Spanish Ibex
Index rose 0.59 percent, while Italy's FTSE MIB Index gained 0.34
percent. Meanwhile, the German DAX climbed 1.39 percent and the
French CAC 40 gained 0.58 percent while U.K. shares rose 0.74
Economics The ICSC-Goldman same-store sales index fell 0.3% in
the week ended Saturday versus the earlier week. The NFIB Small
Business Optimism Index rose to 94.10 in January, versus a prior
reading of 93.90. However, economists were expecting a reading of
93.60. U.S. wholesale inventories rose 0.30% in December, versus
economists' expectations for a 0.50% gain. The Treasury is set to
auction 4-week bills and 3-year notes.
(c) 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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