Toward the end of trading Friday, the Dow traded up 0.51
percent to 17,775.01 while the NASDAQ climbed 0.67 percent to
4,902.35. The S&P also rose, gaining 0.44 percent to
Leading and Lagging Sectors
On Friday, healthcare shares gained by 0.95 percent.
Meanwhile, top gainers in the sector included Cardiovascular
Systems Inc (NASDAQ:
), up 26 percent, and Regeneron Pharmaceuticals Inc (NASDAQ:
), up 13 percent.
In trading on Friday, energy shares fell by 1.48 percent.
Meanwhile, top losers in the sector included GulfMark Offshore,
), down 11 percent, and SandRidge Permian Trust (NYSE:
), down 9 percent.
BlackBerry Ltd (NASDAQ:
) reported a narrower-than-expected loss for its fiscal fourth
quarter on Friday, but the company missed analysts' revenue
BlackBerry posted a quarterly net loss of $238 million, or
$0.45 per share, versus a year-ago profit of $28 million, or
$0.05 per share. The company's adjusted loss came in at $0.03 per
Its revenue declined around 30 percent to $464 million.
However, analysts were expecting a loss of $0.10 per share on
revenue of $563.18 million.
Equities Trading UP
Cardiovascular Systems Inc (NASDAQ:
) shares shot up 26 percent to $13.02 as the company issued a
strong Q3 revenue forecast.
Shares of Tesla Motors Inc (NASDAQ:
) got a boost, shooting up 4 percent to $237.80 following
Thursday night's Model 3 launch event. The electric vehicle will
start at a base price of $35,000 (before tax credit, which could
lower the price to about $27,500 for buyers), with a range of 215
miles. Production is set to begin towards the end of 2017.
TerraForm Power Inc (NASDAQ:
) shares were also up, gaining 13 percent to $9.78. David
Tepper's Appaloosa Capital revealed in a regulatory filing that
it has increased in stake in Terraform to 10.88 percent from a
prior 9.5 percent.
Equities Trading DOWN
Starwood Hotels & Resorts Worldwide Inc (NYSE:
) shares dropped 5 percent to $79.40 following a major
development in the bidding war between Anbag Insurance Group and
Marriott International. Starwood announced on Thursday it
received notification from Anbag Insurance Group and Primavera
Capital Limited that it has withdrawn a prior non-binding
proposal to acquire all of the outstanding shares of Starwood for
$82.75 per share.
Shares of Rovi Corporation (NASDAQ:
) were down 15 percent to $17.45 as the company filed a patent
infringement lawsuit against Comcast.
Marriott International Inc (NASDAQ:
) was down, falling around 5 percent to $67.69. The consortium
led by Anbang Insurance Group Co., Ltd., and including J.C.
Flowers & Co. and Primavera Capital Limited, announced
Thursday that it has decided not to proceed with its proposal to
acquire Starwood Hotels & Resorts.
In commodity news, oil traded down 3.57 percent to $36.97,
while gold traded down 1.10 percent to $1,222.00.
Silver traded down 2.64 percent Friday to $15.06, while copper
fell 0.80 percent to $2.17.
European shares closed lower today. The eurozone's STOXX 600
fell 1.30 percent, the Spanish Ibex Index dropped 1.38 percent,
while Italy's FTSE MIB Index dropped 1.88 percent. Meanwhile, the
German DAX declined 1.71 percent, and the French CAC 40 slipped
1.43 percent, while U.K. shares fell 0.47 percent.
The U.S. economy added 215,000 new jobs in March, while the
unemployment rate increased to 5 percent from 4.9 percent.
However, economists were projecting an addition of 205,000
nonfarm jobs for March.
The manufacturing PMI rose to 51.50 in March, versus a prior
reading of 51.40. However, economists were expecting a reading of
The ISM manufacturing composite index gained to 51.80 in
March, versus a prior reading of 49.50. Economists were
estimating a reading of 50.70.
The University of Michigan's consumer sentiment index rose to
a reading of 91.00 for March, versus a previous reading of 90.00.
Economists expected a reading of 90.50.
U.S. construction spending declined 0.50 percent for March,
versus economists' expectations for a 0.10 percent growth.
© 2016 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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