Wrapping up this FOMC Wednesday trading session, the Dow
traded down slightly 0.02 percent to 16,909.20 while the NASDAQ
surged 0.57 percent to 4,468.04. The S&P appreciated 0.19
percent to 1,973.79.
Leading and Lagging Sectors
Wednesday morning, the healthcare sector proved to be a source
of strength for the market. Leading the sector was strength from
ZELTIQ Aesthetics (NASDAQ:
) and Aegerion Pharmaceuticals (NASDAQ:
Utilities sector was the top decliner in the US market on
Wednesday. Top losers in the sector included Huaneng Power
), Companhia de Saneamento Basico do Estado de Sao Paulo (NYSE:
), and Empresa Nacional de Electricidad S.A. (NYSE:
The Federal Reserve FOMC announced it will continue to taper
$10B a month, will now purchase $15B/Month in Treasury's and
$10B/Month in MBS. The FOMC statement said the housing
sector remains slow. 9-1 vote for Fed Funds Rate
) posted a
profit in the latest
The company posted a quarterly profit of $23 million, or $0.01
per share, versus a year-ago loss of $1.6 billion, or $0.53 per
Its sales declined to $8.79 billion from $8.88 billion.
Analysts were expecting a loss of $0.02 per share on revenue of
Equities Trading UP
ZELTIQ Aesthetics (NASDAQ:
) shares shot up 28.60 percent to $21.33 after the company
reported upbeat quarterly results and issued a strong FY14
Shares of Twitter (NYSE:
) got a boost, shooting up 21.61 percent to $46.93 after the
second-quarter results and issued an upbeat revenue forecast for
the third quarter. Analysts at Bank of America upgraded Twitter
from Neutral to Buy.
) shares were also up, gaining 26.11 percent to $16.14 after the
company announced its plans to acquire Cortina Systems.
Equities Trading DOWN
Shares of Merit Medical Systems (NASDAQ:
) were down 13.64 percent to $12.75 after the company reported
downbeat quarterly results and issued a weak FY14 forecast.
DreamWorks Animation SKG (NASDAQ:
) shares tumbled 12.87 percent to $19.74 after the company posted
loss on revenue below analysts' estimates.
Buffalo Wild Wings (NASDAQ:
) was down, falling 13.56 percent to $144.48 despite the company
beating Q2 expectations and raising its 2014 outlook. Wunderlich
Securities analyst Robert M. Derrington lowered the price target
on the stock from $180.00 to $170.00.
In commodity news,
oil traded down 0.90 percent
to $100.06, while gold traded down 0.21 percent to $1,296.30
Silver traded up 0.06 percent Wednesday to $20.55, while
copper rose 0.85 percent to $3.25.
were mostly lower
today. The eurozone's STOXX 600 fell 0.67 percent, the Spanish
Ibex Index gained 0.33 percent, while Italy's FTSE MIB Index
declined 0.93 percent. Meanwhile, the German DAX declined 0.69
percent and the French CAC 40 dropped 1.33 percent while UK
shares fell 0.62 percent.
The MBA reported that its index of mortgage application
activity declined 2.2% in the week ended July 25.
US economy's growth rate surged by 4.0% during the second
quarter, versus economists' expectations for a 3% growth
ADP reported that private sector added 218,000 in July, versus
the economists' expectations for a gain of 232,000.
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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