Mid-Day Market Update: Bankrate Jumps On Upbeat Results; Weight Watchers Shares Dip
Midway through trading Friday, the Dow traded up 0.46 percent to 16,100.83 while the NASDAQ dropped 0.13 percent to 4,234.97. The S&P also rose, gaining 0.24 percent to 1,834.24.
Leading and Lagging Sectors
In trading on Friday, Basic Materials shares were relative leaders, up on the day by 0.78 percent.
Top gainer in the sector was AMCOL International (NYSE: ACO), up 8.5 percent. Shares of Cliffs Natural Resources (NYSE: CLF) also surged 4.5 percent after the company reported upbeat quarterly earnings.
Financials sector was the only decliner in the market today, down on the day by 0.05 percent. Among the financial stocks, Zillow (NASDAQ: Z) was down 6.7%, while TAL International Group (NYSE: TAL) tumbled around 4.2%. Shares of TAL International dipped after the company reported downbeat quarterly earnings.
Campbell Soup Co (NYSE: CPB) reported a 71% gain in its fiscal second-quarter profit. Campbell's quarterly earnings surged to $325 million, or $1.03 per share, versus $190 million, or $0.60 per share, in the year-ago quarter. Excluding special costs, it earned $1.04 per share. Its sales climbed 5.5% to $2.28 billion. However, analysts were projecting earnings of $0.73 per share on revenue of $2.27 billion.
Equities Trading UP
LogMeIn (NASDAQ: LOGM) shot up 24.58 percent to $41.45 after the company reported upbeat Q4 earnings and issued a strong forecast.
Shares of Bankrate (NYSE: RATE) got a boost, shooting up 13.07 percent to $19.67 after the company reported better-than-expected Q4 results.
Equities Trading DOWN
Shares of Weight Watchers International (NYSE: WTW) were down 26.01 percent to $22.63 after the company reported downbeat Q4 earnings and issued a weak FY14 forecast.
Trulia (NYSE: TRLA) shares tumbled 18.75 percent to $29.60 after the company reported downbeat Q4 earnings and named Kira Wampler as Chief Marketing Officer.
GNC Holdings (NYSE: GNC) was down, falling 12.24 percent to $45.97 after the company reported weaker-than-expected Q4 results and issued downbeat FY14 guidance. Goldman Sachs downgraded the stock from Buy to Neutral and cut the price target from $72.00 to $54.00.
In commodity news, oil traded down 0.36 percent to $99.99, while gold traded up 1.33 percent to $1,317.40.
Silver traded up 4.02 percent Friday to $21.22, while copper rose 0.37 percent to $3.26.
European shares were higher today.
The Spanish Ibex Index rose 0.34 percent, while Italy's FTSE MIB Index surged 1.62 percent.
Meanwhile, the German DAX gained 0.68 percent and the French CAC 40 climbed 0.63 percent while U.K. shares rose 0.06 percent.
The import price index climbed 0.1% in January, versus economists' expectations for a 0.1% decline.
US industrial production fell 0.30% for January, versus economists' estimates of a 0.20% gain.
The preliminary reading of the Reuters/University of Michigan's consumer sentiment index came in at 81.20 in February, versus a prior reading of 81.20. However, economists were expecting a reading of 80.20.
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