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Mid-Afternoon Market Update: Dow Gains 100 Points; Trivago Shares Plunge


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Toward the end of trading Wednesday, the Dow traded up 0.4 percent to 24,130 while the NASDAQ climbed 0.07 percent to 24,113.18. The S&P also rose, gaining 0.31 percent to 2,642.72.

Leading and Lagging Sectors

Wednesday afternoon, the energy shares gained 0.74 percent. Meanwhile, top gainers in the sector included Pengrowth Energy Corporation (NYSE: PGH ), up 12 percent, and Scorpio Tankers Inc. (NYSE: STNG ), up 12 percent.

In trading on Wednesday, real estate shares tumbled 0.39 percent.

Top Headline

Twitter Inc (NYSE: TWTR ) reported better-than-expected results for its first quarter.

The social media company earned 16 cents per share in the first quarter on revenue of $664.87 million versus expectations of 11 cents per share and $605.26 million.

Advertising revenue rose 21 percent to $575 million, data licensing and other revenue rose 20 percent to $90 million. Monthly active users rose from 330 million in the fourth quarter to 336 million.

Equities Trading UP

K12 Inc. (NYSE: LRN ) shares shot up 31 percent to $10.15 following Q3 results.

Shares of Travelzoo (NASDAQ: TZOO ) got a boost, shooting up 30 percent to $10.16 following strong Q1 results.

Six Flags Entertainment Corporation (NYSE: SIX ) shares were also up, gaining 8 percent to $64.01 as the company posted a narrower-than-expected loss for its first quarter.

Equities Trading DOWN

Trivago NV - ADR (NASDAQ: TRVG ) shares dropped 22 percent to $4.98 following downbeat quarterly results.

Shares of Teradyne, Inc. (NYSE: TER ) were down 16 percent to $34.6801 after the company issued downbeat Q2 guidance.

HFF, Inc. (NYSE: HF ) was down, falling around 18 percent to $38.805 following weaker-than-expected quarterly results.

Commodities

In commodity news, oil traded up 0.31 percent to $67.91 while gold traded down 0.69 percent to $1,323.80.

Silver traded down 1.02 percent Wednesday to $16.615, while copper fell 0.27 percent to $3.1555.

Eurozone

European shares closed lower today. The eurozone's STOXX 600 fell 0.77 percent, the Spanish Ibex Index fell 0.26 percent, while Italy's FTSE MIB Index dipped 0.97 percent. Meanwhile the German DAX fell 1.02 percent, and the French CAC 40 declined 0.57 percent while U.K. shares fell 0.62 percent.

Economics

Crude supplies increased 2.2 million barrels for the week ended April 20, the U.S. Energy Information Administration reported. Analysts projected a fall of1.1 million barrels. Gasoline stockpiles rose 800,000 barrels, while distillate stockpiles slipped 2.6 million barrels for the week.

© 2018 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: Investing , Commodities
Referenced Symbols: TZOO , HF , LRN , PGH , TER


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