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Following the market opening Friday, the Dow traded up 0.04 percent to 21,182.53 while the NASDAQ climbed 0.39 percent to 6,321.76. The S&P also rose, gaining 0.03 percent to 2,433.79.
Leading and Lagging Sectors
Financial sector was the top gainer in the US market on Friday. Top gainers in the sector included DuPont Fabros Technology, Inc. (NYSE:DFT), CNB Financial Corp (NASDAQ:CCNE), and LNB Bancorp Inc (NASDAQ:LNBB).
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In trading on Friday, telecommunications services shares fell 0.40 percent. Meanwhile, top losers in the sector included BT Group plc (ADR) (NYSE:BT), down 3.5 percent, and Telecom Italia SpA (ADR) (NYSE:TI), down 2 percent.
Top Headline
VeriFone Systems Inc (NYSE:PAY) posted a loss for the second quarter and lowered its FY17 outlook on Thursday.
Verifone posted Q2 earnings of $0.30 per share on revenue of $474 million. Analysts expected earnings of $0.30 per share on revenue of $472.6 million.
Verifone now expects FY17 adjusted earnings of $1.32 to $1.34 per share, versus earlier outlook of $1.35 to $1.39 per share. It also lowered its sales forecast from $1.895 billion-$1.91 billion, to $1.865 billion-$1.87 billion.
Equities Trading UP
DuPont Fabros Technology, Inc. (NYSE:DFT) shares shot up 14 percent to $62.95. Digital Realty Trust, Inc. (NYSE:DLR) announced plans to merge with DuPont Fabros.
Shares of Layne Christensen Company (NASDAQ:LAYN) got a boost, shooting up 16 percent to $8.83 after the company posted a narrower-than-expected loss for its first quarter.
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Collegium Pharmaceutical Inc (NASDAQ:COLL) shares were also up, gaining 9 percent to $10.90 after the company disclosed that it will present data on Xtampza® ER at the 2017 International Conference on Opioids.
Equities Trading DOWN
Teekay Offshore Partners L.P. (NYSE:TOO) shares dropped 18 percent to $2.74. Morgan Stanley downgraded Teekay Offshore from Equal-Weight to Underweight.
Shares of Teekay Corporation (NYSE:TK) were down 13 percent to $5.56. Morgan Stanley downgraded Teekay from Equal-Weight to Underweight.
Cloudera Inc (NASDAQ:CLDR) was down, falling around 12 percent to $20.20. Cloudera reported Q1 adjusted loss of $0.27 per share on revenue of $79.6 million.
Commodities
In commodity news, oil traded down 0.22 percent to $45.54 while gold traded down 0.26 percent to $1,276.20.
Silver traded down 0.54 percent Friday to $17.32, while copper rose 0.75 percent to $2.629.
Eurozone
European shares were mixed today. The eurozone’s STOXX 600 fell 0.06 percent, the Spanish Ibex Index declined 0.23 percent, while Italy’s FTSE MIB Index slipped 0.14 percent. Meanwhile the German DAX climbed 0.38 percent, and the French CAC 40 gained 0.29 percent while U.K. shares rose 0.55 percent.
Economics
U.S. wholesale inventories declined 0.50 percent for April.
The Baker Hughes North American rig count for the latest week is schedule for release at 1:00 p.m. ET.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.