Midway through trading Thursday, the Dow traded down 0.57
percent to 17,539.67 while the NASDAQ declined 0.90 percent to
4,791.27. The S&P also fell, dropping 0.68 percent to
Leading and Lagging Sectors
On Thursday, utilities shares rose by 0.23 percent. Top
gainers in the sector included Northwest Natural Gas Co (NYSE:
) and Pure Cycle Corporation (NASDAQ:
In trading on Thursday, energy shares tumbled by 1.52 percent.
Meanwhile, top losers in the sector included TETRA Technologies,
), down 14 percent, and SM Energy Co (NYSE:
), down 10 percent.
The Kroger Co (NYSE:
) reported better-than-expected earnings for its first quarter on
Kroger reported quarterly earnings of $0.70 per share, on
revenue of $34.6 billion. However, analysts were expecting a
profit of $0.69 per share on revenue of $34.88 billion.
The company expects FY16 earnings of $2.19 to $2.28 per share,
versus analysts' estimates of $2.25 per share.
Equities Trading UP
Nu Skin Enterprises, Inc. (NYSE:
) shares shot up 11 percent to $45.24. Nu Skin reported a $210
million strategic investment from Ping An ZQ China Growth
Shares of QLogic Corporation (NASDAQ:
) got a boost, shooting up 10 percent to $14.85 after the company
agreed to be acquired by Cavium for $1.36 billion.
EXACT Sciences Corporation (NASDAQ:
) shares were also up, gaining 17 percent to $10.93. Craig-Hallum
upgraded Exact Sciences from Hold to Buy.
Equities Trading DOWN
Tonix Pharmaceuticals Holding Corp. (NASDAQ:
) shares dropped 20 percent to $1.97. Tonix Pharma priced public
offering of 5 million shares at $2 per share.
Shares of Korn/Ferry International (NYSE:
) were down 17 percent to $22.87. Korn/Ferry posted upbeat
results for its fourth quarter, but issued a weak earnings
forecast. Baird downgraded Korn/Ferry from Outperform to
Cavium Inc (NASDAQ:
) was down, falling around 16 percent to $40.15 as the company
announced plans to buy QLogic for about $1.36 billion.
In commodity news, oil traded down 3.33 percent to $46.41
while gold traded up 2.17 percent to $1,316.20.
Silver traded up 1.67 percent Thursday to $17.80, while copper
fell 1.87 percent to $2.05.
European shares were lower today. The eurozone's STOXX 600
fell 1.42 percent, the Spanish Ibex Index dropped 1.44 percent,
while Italy's FTSE MIB Index dipped 2.39 percent. Meanwhile the
German DAX declined 1.51 percent, and the French CAC 40 slipped
1.32 percent, while U.K. shares fell 0.90 percent.
The Consumer Price Index rose 0.2 percent for May, versus
economists' expectations for a 0.3 percent growth.
U.S. initial jobless claims increased 13,000 to 277,000 in the
latest week. However, economists were projecting claims to reach
270,000 in the week.
The Philadelphia Fed manufacturing index rose to 4.70 in June,
versus a prior reading of -1.80. However, economists were
expecting a reading of 1.10.
U.S. current account deficit widened to $124.7 billion in the
first quarter, versus a downwardly revised $113.4 billion in the
The NAHB housing market index rose to a reading of 60 in June.
However, economists expected a reading of 59 for the month.
Supplies of natural gas increased 69 billion cubic feet for
the week ended June 10, the U.S. Energy Information
Administration. However, analysts were expecting a gain of 64
billion cubic feet.
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