Following the market opening Friday, the Dow traded up 0.61
percent to 17,648.87 while the NASDAQ climbed 0.54 percent to
4,874.54. The S&P also rose, gaining 0.63 percent to
Leading and Lagging Sectors
On Friday, energy shares gained by 2.30 percent. Meanwhile,
top gainers in the sector included GulfMark Offshore, Inc. (NYSE:
), up 11 percent, and Denbury Resources Inc. (NYSE:
), up 12 percent.
In trading on Friday, cyclical consumer goods & services
shares slipped by 0.23 percent. Meanwhile, top losers in the
sector included Ruby Tuesday, Inc., down 13 percent, and Gap Inc
), down 10 percent.
Ruby Tuesday, Inc. reported weaker-than-expected results for
its third quarter on Thursday. Ruby Tuesday also announced its
Chief Financial Officer Jill Golder will be resigning after three
years with the company.
The restaurants operator and franchisor posted Q3 EPS of
$0.03, missing estimates by $0.02. Revenue of $271.47 million
also fell $12.67 million short of expectations. Ruby Tuesday also
lowered its top and bottom line fiscal year 2016 outlook.
Equities Trading UP
Alliance Fiber Optic Products Inc (NASDAQ:
) shares shot up 19 percent to $18.43 after the company agreed to
be acquired by Corning Incorporated (NYSE:
) for $18.50 per share.
Shares of Depomed Inc (NASDAQ:
) got a boost, shooting up 18 percent to $17.64 after notable
activist investment firm Starboard Value disclosed it has taken a
9.8 percent stake in the company.
Anavex Life Sciences Corp. (NASDAQ:
) shares were also up, gaining 12 percent to $5.95 as the company
reported that it has received the FDA approval for Orphan Drug
Designation for Frontotemporal dementia treatment.
Equities Trading DOWN
Viking Therapeutics Inc (NASDAQ:
) shares dropped 40 percent to $1.16 after the company priced 7.5
million share offering at $1.25 per share.
Shares of SeaChange International (NYSE:
) were down 28 percent to $3.99 after the company reported a
worse-than-expected fourth quarter print and announced a CEO
Ruby Tuesday, Inc. (NYSE:
) was down, falling around 13 percent to $4.52 after the company
reported weaker-than-expected results for its third quarter. Ruby
Tuesday also announced its Chief Financial Officer Jill Golder
will be resigning after three years with the company.
In commodity news, oil traded up 5.13 percent to $39.17 while
gold traded down 0.23 percent to $1,234.70.
Silver traded up 0.24 percent Friday to $15.20, while copper
rose 0.07 percent to $2.08.
European shares were higher today. The eurozone's STOXX 600
gained 1.22 percent, the Spanish Ibex Index rose 1.87 percent,
while Italy's FTSE MIB Index surged 3.63 percent. Meanwhile, the
German DAX climbed 1.44 percent, and the French CAC 40 surged
1.45 percent, while U.K. shares rose 0.93 percent.
U.S. wholesale inventories dropped 0.5 percent for February,
versus a 0.2 percent decline in January.
© 2016 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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