Market Wrap for September 25: Markets Close Down, MAKO Closes Up 82.13%
At the end of trading Wednesday, the Dow closed down 0.40 percent to 15,273.26 while the NASDAQ dropped 0.19 percent to 3,761.10. The S&P also fell, declining 0.27 percent to 1,692.77.
AutoZone (NYSE: AZO) reported a 15% rise in its fiscal fourth-quarter earnings. AutoZone's quarterly profit surged to $371.2 million, or $10.42 per share, from $323.7 million, or $8.46 per share, in the year-ago period. Adjusted earnings came in at $9.76 per share. Its net sales climbed 12% to $3.1 billion, while sales at stores open at least one year jumped 1%.
However, analysts were expecting earnings of $10.34 per share on sales of $3.09 billion. AutoZone's total auto-parts sales climbed 10% to $2.99 billion. However, its domestic commercial sales jumped 17% to $506.8 million.
AutoZone closed up 2.60 percent on Wednesday at $425.07.
Shares of Ascena Retail Group (NASDAQ: ASNA) got a boost, closing up 15.82 percent to $20.06 after the company reported upbeat fiscal fourth-quarter results.
Nordic American Tankers (NYSE: NAT) also closed up 10.67 percent to $8.92 after the Dow Jones Global Shipping Index showed strength throughout the session on Wednesday.
Equities Trading DOWN
Shares of BlackBerry (NASDAQ: BBRY) took a hit on Wednesday, closing down 6.15 percent to $8.01 as traders became skeptical that its buyout would be executed.
AAR (NYSE: AIR) shares tumbled 9.25 percent to close at $27.16 after the company reported a drop in its fiscal first-quarter profit.
J. C. Penney Company (NYSE: JCP) closed down 14.54 percent to $10.17 despite a Dow Jones report stating that J.C. Penney will hire around 35,000 holiday season workers.
In commodity news, oil closed down 0.80 percent to $102.31, while gold closed up 1.30 percent to $1,333.40. Silver traded up 0.64 percent Wednesday to $21.72, while copper rose 0.51 percent to $3.28.
European shares were mixed today. The Spanish Ibex Index surged 0.84 percent, while Italy's FTSE MIB Index rose 0.14 percent. Meanwhile, the German DAX dropped 0.02 percent and the French CAC 40 fell 0.01 percent while U.K. shares declined 0.27 percent.
The MBA's index of mortgage application activity climbed 5.5% in the week ended September 20, versus a rise of 11.2% in the week ended September 13. US durable-goods orders rose 0.1% in August, while core durable-goods orders fell 0.1% in the month. US new home sales climbed 7.9% to an annual rate of 421,000 in August.
However, economists were projecting sales to rise to a rate of 420,000 in August. Crude stockpiles increased 2.6 million barrels for the week ended September 20, the US Energy Information Administration reported. However, analysts were expecting a fall of 1.5 million barrels.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.