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Toward the end of trading Friday, the Dow traded up 0.06 percent to 14,503.69 while the NASDAQ tumbled 0.01 percent to 3,459.46. The S&P also fell, dropping 0.06 percent to 1,649.60

Top Headline
Yesterday, Krispy Kreme Doughnuts (NYSE: KKD) reported downbeat fiscal second-quarter earnings and issued a weak forecast. Krispy Kreme's quarterly net income declined to $4.7 million, or $0.07 per share, from $4.9 million, or $0.07 per share, in the year-ago quarter. Excluding one-time items, it earned $0.14 per share. Its revenue surged over 10% to $112.7 million from $102.1 million. However, analysts were expecting earnings of $0.16 per share on revenue of $111.9 million.

Equities Trading UP
Salesforce.com (NYSE: CRM) shot up 12.51 percent to $49.11 after the company reported upbeat second-quarter results and issued a strong view. Shares of Apache (NYSE: APA) got a boost, shooting up 8.88 percent to $85.62 after the company announced its plans to sell a 33% stake in its Egypt oil operations to Sinopec Group for $3.1 billion. RBC Capital upgraded the stock from Sector perform to Outperform. American Airlines (OTC: AAMRQ) was also up, gaining 6.19 percent after Bloomberg reported that the American Airlines/ US Airways case has a start date for its US trial of November 25th.

Equities Trading DOWN
Shares of OmniVision Technologies (NASDAQ: OVTI) were down 15.26 percent to $15.60 after the company issued weakcurrent-quarter adjusted profit view. Analysts at Oppenheimer downgraded the stock from Outperform to Perform. Krispy Kreme Doughnuts (NYSE: KKD) shares tumbled 14.55 percent to $19.86 after the company reported downbeat fiscal second-quarter earnings and issued a weak forecast. Pacific Sunwear (NASDAQ: PSUN) was also down, falling 18.88 percent to $3.17 after the company reported strong earnings but disappointed the street with its guidance.

Commodities
In commodity news, oil traded down 1.05 percent to $107.66, while gold traded down 0.82 percent to $1,401.30. Silver traded down 1.68 percent Friday to $23.48, while copper fell 0.81 percent to $3.23.

Eurozone
European shares were lower today. The Spanish Ibex Index dropped 1.68 percent, while Italy's FTSE MIB Index declined 1.32 percent. Meanwhile, the German DAX dropped 1.12 percent and the French CAC 40 tumbled 1.32 percent while U.K. shares fell 1.08 percent.

Economics
US consumer spending rose 0.1% in July, versus economists' expectations for a 0.3% increase. Personal income also gained 0.1% in July, versus expectations for a 0.2% rise. The Chicago PMI surged to 53.0 in August, versus 52.3 in July. However, economists were expecting a reading index of 53.0. The Reuter's/University of Michigan's consumer sentiment index dropped to 82.10 in August, versus a final July reading of 85.10. However, economists were projecting a reading of 80.50. Data on farm prices will be released at 3:00 p.m. ET.

Posted-In: Mid-Afternoon Market UpdateEarnings News Guidance Eurozone Futures Commodities Forex Global Econ #s Economics Hot Intraday Update Markets Movers Tech

 

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