Market Overview

U.S. Stocks Rise; Palo Alto Networks Shares Surge On Upbeat Revenue

U.S. Stocks Rise; Palo Alto Networks Shares Surge On Upbeat Revenue

Midway through trading Wednesday, the Dow traded up 0.19 percent to 17,045.50 while the NASDAQ surged 0.42 percent to 4,571.59. The S&P also rose, gaining 0.19 percent to 1,992.21.

Leading and Lagging Sectors

In trading on Wednesday, healthcare shares rose 0.51 percent. Meanwhile, top gainers in the sector included NPS Pharmaceuticals (NASDAQ: NPSP), up 21.5 percent, and Avanir Pharmaceuticals (NASDAQ: AVNR), up 12.9 percent.

Energy shares tumbled 0.73 percent in trading on Wednesday. Meanwhile, top decliners in the sector included Texas Pacific Land Trust (NYSE: TPL), down 3.5 percent, and PetroQuest Energy (NYSE: PQ), off 3.8 percent.

Top Headline

On Tuesday, Krispy Kreme Doughnuts (NYSE: KKD) posted a weaker-than-expected second-quarter profit.

Net income for the quarter grew from $4.7 million, or 7 cents a share in the year-ago period, to $5.75 million, or $0.08 cents a share. Excluding items, income was $0.13 a share, down from $0.14 last year.

Revenue increased 6.9 percent from $112.7 million to $120.5 million. Earnings missed analysts' expectations for $0.16 a share on revenue of $118.13.

Equities Trading UP

NPS Pharmaceuticals (NASDAQ: NPSP) shares shot up 21.54 percent to $31.32 after the company reported that the FDA has posted briefing materials for Advisory Committee meeting reviewing Natpara for Hypoparathyroidism.

Shares of Lands' End (NASDAQ: LE) got a boost, shooting up 15.48 percent to $38.50 after the company reported better-than-expected fiscal second-quarter results.

Palo Alto Networks (NYSE: PANW) shares were also up, gaining 8.69 percent to $97.04 after the company posted better-than-expected FQ4 revenue and issued a strong revenue forecast for the current quarter.

Equities Trading DOWN

Shares of GT Advanced Technologies (NASDAQ: GTAT) were down 13.52 percent to $12.92. Goldman Sachs downgraded GT Advanced Technologies from Buy to Neutral and lowered the price target from $20.00 to $14.00.

Krispy Kreme Doughnuts (NYSE: KKD) shares tumbled 5.12 percent to $16.71 after the company posted a weaker-than-expected second-quarter profit.

eBay (NASDAQ: EBAY) was down, falling 2.88 percent to $51.21. Analysts at Piper Jaffray downgraded eBay from Overweight to Neutral.


In commodity news, oil traded down 1.27 percent to $91.57, while gold traded up 0.03 percent to $1,248.90.

Silver traded up 0.24 percent Wednesday to $18.97, while copper rose 0.26 percent to $3.11.


European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.05 percent, the Spanish Ibex Index dropped 0.13 percent, while Italy’s FTSE MIB Index slipped 0.04 percent. Meanwhile, the German DAX fell 0.11 percent and the French CAC 40 declined 0.04 percent while UK shares gained 0.02 percent.


US wholesale inventories increased 0.1% in July, while wholesale sales rose 0.7% in the month.

The MBA reported that its index of mortgage application activity fell 7.20% in the week ended September 5.

US crude-oil supplies fell 1 million barrels in the week ended September 5, according to the Energy Information Administration. Gasoline stockpiles rose 2.4 million, while distillates inventories increased 4.1 million barrels.

Posted-In: News Eurozone Futures Commodities FDA Markets Movers


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