Wednesday, the Dow traded up 0.11 percent to 14,792.39 while the
NASDAQ declined 0.38 percent to 3,680.77. The S&P rose,
gaining 0.09 percent to 1,656.89.
Top Headline Family Dollar Stores (NYSE:
in its fourth-quarter profit.
Family Dollar's quarterly profit surged to $102.2 million, or
$0.88 per share, versus $80.9 million, or $0.69 per share, in the
year-ago period. Excluding special items, it earned $0.86 per
Its revenue climbed to $2.50 billion from $2.36 billion, while
comparable-store sales came in flat. However, analysts were
projecting earnings of $0.83 per share on revenue of $2.57
billion. Family Dollar estimates 2014 earnings of $3.80 to $4.15
Equities Trading UP The Men's Wearhouse (NYSE:
) shot up 23.28 percent to $43.45 after Jos. A. Bank Clothiers
offered to acquire
Men's Wearhouse for around $2.3 billion. However, Men's Wearhouse
decided to reject the offer.
Shares of Jos. A Bank Clothiers (NASDAQ:
) got a boost, shooting up 5.95 percent to $44.14 on merger
) was also up, gaining 3.27 percent to $8.20 after the company
Equities Trading DOWN Shares of Ariad Pharmaceuticals (NASDAQ:
) were down 67.33 percent to $5.60 after the company reported
it is pausing
patient enrollment in studies of Iclusig.
) shares tumbled 32.70 percent to $19.24 on lower outlook. BMO
Capital downgraded the stock from Outperform to Market
Yum! Brands (NYSE:
) was down, falling 7.50 percent to $65.95 after the company
reported a 68% drop in its third-quarter profit and lowered its
Commodities In commodity news, to $102.93, while gold traded
down 1.12 percent to $1,309.80.
Silver traded down 2 percent Wednesday to $22.00, while copper
fell 1.66 percent to $3.24.
Eurozone European shares today. The Spanish Ibex Index rose
1.29 percent, while Italy's FTSE MIB Index surged 1.30 percent.
Meanwhile, the German DAX rose 0.13 percent and the French CAC 40
gained 0.47 percent while U.K. shares dropped 0.10 percent.
Economics The MBA's index of mortgage application activity
rose 1.30% for the week ended October 4, versus a prior reading
of 0.40% drop.
The Treasury is set to auction 10-year notes.
The Federal Open Market Committee will release minutes of its
latest meeting at 2:30 p.m. ET.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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