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Mid-Morning Market Update: Markets Open Higher; Kroger Earnings Beat Views


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Following the market opening Thursday, the Dow traded up 0.68 percent to 18,057.92 while the NASDAQ climbed 0.80 percent to 5,105.28. The S&P also rose, gaining 0.53 percent to 2,111.65.

Leading and Lagging Sectors

Healthcare sector was the top gainer in the US market on Thursday. Meanwhile, top gainers in the sector included BioMarin Pharmaceutical Inc. (NASDAQ: BMRN ), up 10 percent, and Synergy Pharmaceuticals Inc (NASDAQ: SGYP ), up 10 percent.

In trading on Thursday, telecommunications services shares rose by just 0.08 percent. Meanwhile, top losers in the sector included China Unicom (Hong Kong) Limited (ADR) (NYSE: CHU ), down 3 percent, and China Telecom Corporation Limited (ADR) (NYSE: CHA ), off 3 percent.

Top Headline

Kroger Co (NYSE: KR ) reported better-than-expected earnings for the first quarter, but the company's sales missed analysts' estimates.

The Cincinnati, Ohio-based company reported quarterly net earnings of $619 million, or $1.25 per share, compared to $501 million, or $0.98 per share, in the year-ago quarter. Kroger's adjusted earnings in the year-ago quarter were $557 million, or $1.09 per share.

Its total sales rose 0.3 percent to $33.1 billion from $33.0 billion, while sales, excluding fuel, climbed 6.4 percent in the first quarter. Analysts were expecting earnings of $1.22 per share on revenue of $33.34 billion.

Equities Trading UP

Radius Health Inc (NASDAQ: RDUS ) shares shot up 19 percent to $61.68 after the company announced positive top-line data from ACTIVExtend trial including combined 25 month results.

Shares of Lumenis Ltd (NASDAQ: LMNS ) got a boost, shooting up 14 percent to $13.77 after the company agreed to be acquired by XIO Group for $14 per share in cash.

BioMarin Pharmaceutical Inc. (NASDAQ: BMRN ) shares were also up, gaining 10 percent to $136.20 following the announcement of positive BMN 111 data.

Equities Trading DOWN

Organovo Holdings Inc (NYSE: ONVO ) shares tumbled 14 percent to $4.48 after the company priced a $40 million public offering of common stock.

Shares of Oracle Corporation (NYSE: ORCL ) were down 8 percent to $41.26 after the company reported weaker-than-expected results for its fiscal fourth quarter.

Jabil Circuit, Inc. (NYSE: JBL ) was down, falling 6 percent to $22.92 after the company reported downbeat revenue for its fiscal third quarter and issued a weak revenue guidance for the current quarter.

Commodities

In commodity news, oil traded up 0.77 percent to $60.38, while gold traded up 1.95 percent to $1,199.80.

Silver traded up 2.34 percent Thursday to $16.32, while copper rose 0.44 percent to $2.62.

Eurozone

European shares were lower today. The eurozone's STOXX 600 fell 0.63 percent, the Spanish Ibex Index slipped 0.53 percent, while Italy's FTSE MIB Index declined 0.21 percent. Meanwhile, the German DAX slipped 0.53 percent, and the French CAC 40 dropped 0.41 percent while UK shares fell 0.13 percent.

Economics

US jobless claims slipped by 12,000 to 267,000 in the week ended June 13. However, economists were projecting claims to reach 275,000 in the week.

The U.S. current account deficit increased to $113.3 billion in the first quarter, versus a revised $103.1 billion, in the fourth quarter.

The consumer price index gained 0.4 percent in May, versus economists' expectations for a 0.5 percent growth. US core consumer prices increased 0.1 percent in May.

US Philadelphia Fed manufacturing index climbed to 15.20 in June, versus a prior reading of 6.70. However, economists were expecting a reading of 8.00.

The US Conference Board's leading index rose 0.70 percent in May, versus economists' expectations for a 0.40 percent growth.

Data on money supply will be released at 4:30 p.m. ET.

© 2015 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 , Futures
Referenced Symbols: BMRN , ORCL , CHA , CHU , JBL



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