Midway through trading Tuesday, the Dow traded up 0.06 percent
to 18,544.83 while the NASDAQ declined 0.19 percent to 5,046.25.
The S&P also fell, dropping 0.13 percent to 2,164.00.
Leading and Lagging Sectors
On Tuesday, industrial shares slipped by just 0.02 percent.
Top gainers in the sector included Star Bulk Carriers Corp.
) and NL Industries Inc (NYSE:
In trading on Tuesday, basic materials shares fell by 1.53
percent. Meanwhile, top losers in the sector included Vale SA
), down 6 percent, and Olympic Steel, Inc. (NASDAQ:
), down 7 percent.
Goldman Sachs Group Inc (NYSE:
) reported stronger-than-expected results for its second quarter
The bank posted quarterly earnings $3.72 per share on revenue
of $7.93 billion. However, analysts were expecting earnings of $3
per share on sales of $7.58 billion.
Its revenue from trading fixed income, commodities and
currencies climbed 20 percent to $1.93 billion, while revenue
from trading increased 2 percent to $3.68 billion in the
Equities Trading UP
Golden Enterprises, Inc. (NASDAQ:
) shares shot up 58 percent to $11.88 following a $12 per share
cash bid from Utz Quality Foods.
Shares of Hudson Technologies, Inc. (NASDAQ:
) got a boost, shooting up 37 percent to $5.19 after the company
reported that it has been awarded a Department of Defense
contract with an estimated maximum value of $400 million.
Cerulean Pharma Inc (NASDAQ:
) shares were also up, gaining 15 percent to $2.63 as the company
reported that it has received the FDA Fast Track designation for
CRLX101 for the treatment of platinum-resistant ovarian
Equities Trading DOWN
Super Micro Computer, Inc. (NASDAQ:
) shares dropped 28 percent to $18.87 after the company lowered
its Q4 forecast and announced a $100 million buyback plan.
Shares of Netflix, Inc. (NASDAQ:
) were down 14 percent to $85.07. Netflix posted upbeat earnings
for its second quarter, but the company reported weak subscriber
growth for the quarter. Netflix added 1.7 million subscribers
worldwide during the quarter, well short of the company's
SciClone Pharmaceuticals, Inc. (NASDAQ:
) was down, falling around 18 percent to $10.92. SciClone Pharma
reported that it is no longer speaking with acquirers and plans
to remain an independent company. The company projects FY2016
earnings of $0.70 to $0.74 per share on sales of $158.0 million
to 163.0 million.
In commodity news, oil traded down 0.64 percent to $44.95
while gold traded up 0.23 percent to $1,332.40.
Silver traded down 0.27 percent Tuesday to $20.02, while
copper rose 0.80 percent to $2.26.
European shares were mostly lower today. The eurozone's STOXX
600 declined 0.47 percent, the Spanish Ibex Index slipped 0.66
percent, while Italy's FTSE MIB Index dropped 1.50 percent.
Meanwhile the German DAX declined 0.95 percent, and the French
CAC 40 declined 0.75 percent, while U.K. shares rose 0.04
U.S. housing starts rose 4.8 percent to an annual pace of 1.19
million in June. However, economists were expecting a 1.17
million pace. Building permits increased 1.5 percent to an annual
pace of 1.15 million.
© 2016 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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