Following the market opening Thursday, the Dow traded down
0.70 percent to 17,516.69 while the NASDAQ declined 0.77 percent
to 4,797.56. The S&P also fell, dropping 0.77 percent to
Leading and Lagging Sectors
On Thursday, non-cyclical consumer goods & services shares
declined by just 0.05 percent.
In trading on Thursday, energy shares tumbled by 1.8 percent.
Meanwhile, top losers in the sector included TETRA Technologies,
), down 13 percent, and Teekay Offshore Partners L.P. (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
Capricor Therapeutics Inc (NASDAQ:
) shares shot up 12 percent to $4.63 as the company reported
positive 12-month data from the DYNAMIC clinical trial.
Shares of QLogic Corporation (NASDAQ:
) got a boost, shooting up 10 percent to $14.90 after the company
agreed to be acquired by Cavium for $1.36 billion.
EXACT Sciences Corporation (NASDAQ:
) shares were also up, gaining 11 percent to $10.38. Craig-Hallum
upgraded Exact Sciences from Hold to Buy.
Equities Trading DOWN
Tonix Pharmaceuticals Holding Corp. (NASDAQ:
) shares dropped 16 percent to $2.06. Tonix Pharma priced public
offering of 5 million shares at $2 per share.
Shares of Korn/Ferry International (NYSE:
) were down 19 percent to $22.29. 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 17 percent to $39.71 as the company
announced plans to buy QLogic for about $1.36 billion.
In commodity news, oil traded down 1.69 percent to $47.20
while gold traded up 2.06 percent to $1,314.80.
Silver traded up 1.75 percent Thursday to $17.81, while copper
fell 2.08 percent to $2.05.
European shares were lower today. The eurozone's STOXX 600
fell 1.07 percent, the Spanish Ibex Index dropped 1 percent,
while Italy's FTSE MIB Index dipped 1.95 percent. Meanwhile the
German DAX declined 1.22 percent, and the French CAC 40 slipped
0.81 percent, while U.K. shares fell 0.92 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.
The EIA's weekly report on natural gas stocks is scheduled for
release at 10:30 a.m. ET.
© 2016 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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