Mid-Afternoon Market Update: Ryder System Declines On Lowered Forecast; NewBridge Bancorp Shares Spike Higher

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Toward the end of trading Tuesday, the Dow traded down 0.17 percent to 17,103.06 while the NASDAQ declined 0.59 percent to 4,809.92. The S&P also fell, dropping 0.47 percent to 2,007.93.
Leading and Lagging Sectors
In trading on Tuesday, technology shares slipped by just 0.3 percent. Top gainers in the sector included Lattice Semiconductor
LSCC
, up 9 percent, and Silicom Ltd
SILC
, up 6 percent. In trading on Tuesday, basic materials shares dipped by 1.05 percent. Meanwhile, top losers in the sector included Vale SA (ADR)
VALE
, down 8 percent, and Intrepid Potash, Inc.
IPI
, off 6 percent.
Top HeadlineJohnson & JohnsonJNJ
reported better-than-expected earnings for the third quarter and lifted its earnings forecast for the full year. However, the company reported a decline in its quarterly sales. The New Brunswick, New Jersey-based company reported quarterly net earnings of $3.36 billion, or $1.20 per share, compared to $4.75 billion, or $1.66 per share, in the year-earlier quarter. Excluding items, the company's adjusted earnings came in at $1.49 per share. Its sales dropped 7.4 percent year-over-year to $17.1 billion for the third quarter. However, analysts were expecting earnings of $1.45 per share on revenue of $17.5 billion.
Equities Trading UPWausau Paper Corp. WPP
shares shot up 40 percent to $10.22 after the company agreed to be acquired by SCA for $10.25 per share. Shares of
NewBridge BancorpNBBC
got a boost, shooting up 18 percent to $10.44 after the company agreed to be acquired by
Yadkin Financial CorpYDKN
for $11.40 per share.
Molson Coors Brewing CompanyTAP
shares were also up, gaining 10 percent to $86.76.
SABMiller plc (ADR)
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SBMRY
and
Anheuser Busch Inbev SA (ADR) BUD
agreed to a $106 billion merger deal.
Equities Trading DOWNHeartWare International Inc HTWR
shares tumbled 18 percent to $36.13 after the company said it may not re-initiate enrollment in MVAD clinical trial in November as previously expected. Shares of
AIXTRON SE (ADR)AIXG
were down 12 percent to $5.75 after the company lowered its FY15 guidance.
Ryder System, Inc.R
was down, falling 10 percent to $68.44 after the company lowered its earnings forecast for 2015.
Commodities
In commodity news, oil traded down 0.47 percent to $46.88, while gold traded up 0.09 percent to $1,165.50. Silver traded up 0.26 percent Tuesday to $15.91, while copper fell 1.16 percent to $2.39.
Euro zone
European shares closed lower today. The eurozone's STOXX 600 declined 0.92 percent, the Spanish Ibex Index fell 1.28 percent, while Italy's FTSE MIB Index dipped 0.19 percent. Meanwhile, the German DAX declined 0.86 percent, and the French CAC 40 slipped 0.97 percent, while U.K. shares fell 0.45 percent.
Economics
The NFIB Small Business Optimism Index rose 0.2 points to 96.1 in September. The Johnson Redbook Retail Sales Index declined 0.2 percent in the first week of October versus September.
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Posted In: EarningsNewsGuidanceEurozoneCommoditiesM&AGlobalIntraday UpdateMarketsFinancialsInformation TechnologyMid-Afternoon Market UpdateRegional BanksSemiconductors
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