Mid-Afternoon Market Update: Dow Down Over 100 Points; CommVault Shares Surge On Earnings Beat

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Toward the end of trading Wednesday, the Dow traded down 0.73 percent to 16,048.93 while the NASDAQ dipped 1.22 percent to 4,512.01. The S&P also fell, dropping 0.36 percent to 1,896.74.
Leading and Lagging Sectors
On Wednesday, energy shares rose by 1.54 percent. Meanwhile, top gainers in the sector included
Whiting Petroleum Corp WLL
, up 11 percent, and
CONSOL Energy Inc. CNX
up 12 percent. In trading on Wednesday, technology shares dipped by 0.76 percent. Meanwhile, top losers in the sector included
Total System Services, Inc.TSS
, down 13 percent, and
Neonode, IncNEON
, down 10 percent.
Top HeadlineBoeing CoBA
reported upbeat Q4 earnings, but the company issued a weak forecast for 2016. Boeing earned $1.60 per share in the fourth quarter on revenue of $23.6 billion. Wall Street analysts were expecting the company to earn $1.27 per share on revenue of $23.55 billion. Looking forward to fiscal 2016, Boeing expects to earn $8.15 to $8.35 per share on revenue of $93 billion to $95 billion. Wall Street analysts were projecting the company to earn $9.43 per share on revenue of $97.17 billion.
Equities Trading UP Capnia IncCAPN
shares shot up 19 percent to $1.53 as the company reported an exclusive nationwide distribution agreement for CoSense on Tuesday. Shares of
CommVault Systems, Inc.CVLT
got a boost, shooting up 15 percent to $36.08 after the company reported stronger-than-expected Q3 results.
Hawaiian Holdings, Inc.
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HA
shares were also up, gaining 13 percent to $36.46. Hawaiian Holdings reported Q4 adjusted earnings of $0.85 per share on revenue of $574.15 million. Deutsche Bank upgraded Hawaiian Holdings from Hold to Buy and raised the price target from $35.00 to $40.00.
Equities Trading DOWN Apple Inc. AAPL
shares dropped 5 percent to $95.00. Apple reported upbeat earnings for its first quarter, but the company missed sales expectations. Shares of
Santander Consumer USA Holdings IncSC
were down 15 percent to $11.42 after the company reported downbeat Q4 earnings.
Tupperware Brands CorporationTUP
was down, falling around 13 percent to $44.78 as the company reported weaker-than-expected Q4 results.
Commodities
In commodity news, oil traded up 1.78 percent to $32.01, while gold traded down 0.37 percent to $1,116.50. Silver traded down 1.02 percent Wednesday to $14.42, while copper rose 1.33 percent to $2.06.
Eurozone
European shares closed mostly higher today. The eurozone's STOXX 600 rose 0.31 percent, the Spanish Ibex Index gained 0.56 percent, while Italy's FTSE MIB Index tumbled 0.40 percent. Meanwhile, the German DAX climbed 0.59 percent, and the French CAC 40 rose 0.54 percent, while U.K. shares rose 1.33 percent.
Economics
Sales of new homes surged 10.8 percent to an annual pace of 544,000 in December. However, economists were expecting a 500,000 rate. Crude inventories rose 8.4 million barrels for the week ended January 22, the U.S. Energy Information Administration said. Analysts were expecting crude supplies to rise 3.5 million barrels. Gasoline supplies gained 3.5 million barrels, while distillate stockpiles slipped 4.1 million barrels last week. The Federal Reserve left
key interest rate
unchanged at 0.25 percent-0.5 percent.
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Posted In: EarningsNewsGuidanceEurozoneCommoditiesGlobalIntraday UpdateMarketsMoversMid-Afternoon Market Update
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