Mid-Day Market Update: Infoblox Jumps On Upbeat Results, Sears Declines
Midway through trading Friday, the Dow traded down 0.20 percent to 15,264.01, while the NASDAQ fell 0.29 percent to 3,449.33. The S&P was also down, declining 0.31 percent to 1,645.38.
Yesterday, Pandora Media (NYSE: P) reported upbeat revenue for the first quarter. Pandora posted a quarterly net loss of $28.6 million, or $0.16 per share, versus a year-ago loss of $20.2 million, or $0.12 per share. Excluding one-time items, Pandora lost $0.10 per share. Its revenue surged 55% to $126 million. However, analysts were expecting a loss of $0.10 per share on revenue of $124 million.
Equities Trading UP
Infoblox (NYSE: BLOX) shot up, gaining 12.34 percent to $24.72, after the company reported upbeat Q3 results. Dean Foods Company (NYSE: DF) was also up 4.03 percent to $10.07, after the company announced completion of spin-off of WhiteWave Foods. Procter & Gamble Co (NYSE: PG) got a boost, shooting up 3.88 percent to $81.75 after the company appointed Alan George Lafley as its President and CEO.
Equities Trading DOWN
Sears Holdings (NASDAQ: SHLD) was down, falling 14.84 percent to $49.54, after the company reported wider-than-expected Q1 loss. Abercrombie & Fitch Co (NYSE: ANF) shares tumbled 10.16 percent to $48.84 on weak Q1 results. Aeropostale (NYSE: ARO) was down 9.71 percent to $14.88 after the company reported a loss in the first quarter.
In commodity news, oil traded down 0.46 percent to $93.82, while gold dropped 0.34 percent to $1,387.00. Silver traded down 0.04 percent Friday to $22.50, while copper fell 0.09 percent to $3.30.
European shares were lower on Friday. The Spanish Ibex Index fell 0.95 percent and the Italian FTSE MIB Index dropped 0.66 percent. Meanwhile, the German DAX tumbled 0.56 percent and the French CAC 40 fell 0.26 percent while U.K. shares declined 0.63 percent.
Orders for durable goods rose 3.3 percent to $222.6 billion in April, versus a revised 5.9 percent fall in March. However, economists were expecting a 1.4 percent rise
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.