Midway through trading Wednesday, the Dow traded up 0.55
percent to 16,652.33 while the NASDAQ surged 0.88 percent to
4,427.78. The S&P also rose, gaining 0.64 percent to
Leading and Lagging Sectors
In trading on Wednesday, healthcare shares were relative
leaders, up on the day by about 1.29 percent. Meanwhile, top
gainers in the sector included Dyax (NASDAQ:
), up 6.3 percent, and INSYS Therapeutics (NASDAQ:
), up 8.4 percent.
Basic materials shares dropped by 0.11 percent in today's
trading. Meanwhile, top decliners in the sector included
Companhia Siderurgica Nacional (NYSE:
), down 3.9 percent, and Valhi (NYSE:
), off 3.6 percent.
earnings and lowered its full-year same-store sales outlook.
Macy's now projects full-year same-store sales to rise 1.5% to
2%, versus its earlier outlook for a rise of 2.5% to 3%.
The Cincinnati, Ohio-based company's quarterly net income
surged to $292 million, or $0.80 per share, versus $281 million,
or $0.72 per share, in the year-ago period. Its sales climbed to
$6.27 billion versus $6.07 billion. However, analysts were
expecting earnings of $0.86 per share on revenue of $6.30
Equities Trading UP
Canadian Solar (NASDAQ:
) shares shot up 17.50 percent to $29.34 after the company
posted a profit
in the second quarter.
Shares of FuelCell Energy (NASDAQ:
) got a boost, shooting up 3.52 percent to $2.35 after Cowen
& Company upgraded the stock from Market Perform to
Outperform and announced a $3.00 price target.
) shares were also up, gaining 3.49 percent to $330.46 on
announcement of Local Register card reader.
Equities Trading DOWN
Shares of SeaWorld Entertainment (NYSE:
) were down 30.51 percent to $19.56 after the company reported
downbeat second-quarter results and lowered its full-year
King Digital Entertainment plc (NYSE:
) shares tumbled 22.75 percent to $14.06 after the company
reported weak second-quarter revenue and cut its full-year
forecast. Five analysts downgraded King Digital on Wednesday.
Myriad Genetics (NASDAQ:
) was down, falling 9.95 percent to $35.12 after the company
issued a downbeat profit forecast.
In commodity news,
oil traded down 0.34 percent
to $97.05, while gold traded down 0.03 percent to $1,310.20.
Silver traded down 0.90 percent Wednesday to $19.73, while
copper fell 1.38 percent to $3.11.
today. The eurozone's STOXX 600 rose 0.39 percent, the Spanish
Ibex Index gained 0.61 percent, while Italy's FTSE MIB Index
surged 0.62 percent. Meanwhile, the German DAX gained 1.43
percent and the French CAC 40 jumped 0.78 percent while UK shares
climbed 0.37 percent.
US retail sales came in unchanged in July, while core retail
sales increased 0.1%. Economists were expecting overall
retail-sales to rise 0.2% in July.
The MBA reported that its index of mortgage application
activity dropped 2.7% in the week ended August 8.
US business inventories rose 0.40% in June, versus economists'
expectations for a 0.40% growth.
US oil supplies increased 1.4 million barrels for the week
ended August 8, the Energy Information Administration said.
However, economists were expecting a drop of 2 million barrels.
Supplies of gasoline fell 1.2 million barrels, while distillates
stockpiles declined 2.4 million barrels.
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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