Market Overview

Mid-Afternoon Market Update: Hackett Group Rises On Upbeat Earnings; QTS Realty Trust Shares Plunge


Toward the end of trading Wednesday, the Dow traded up 0.42 percent to 25,069.38 while the NASDAQ climbed 0.78 percent to 7,290.87. The S&P also rose, gaining 0.54 percent to 2,730.88.

Leading and Lagging Sectors

Wednesday afternoon, the industrial shares climbed 0.92 percent. Meanwhile, top gainers in the sector included Quad/Graphics, Inc. (NASDAQ: QUAD), up 27 percent, and Navigant Consulting, Inc. (NYSE: NCI), up 16 percent.

In trading on Wednesday, telecommunications services shares rose by just 0.02 percent. Meanwhile, top losers in the sector included Vonage Holdings Corp. (NYSE: VG), down 14 percent, and Internet Initiative Japan Inc. (ADR) (NASDAQ: IIJI) down 4 percent.

Top Headline

Advance Auto Parts, Inc. (NYSE: AAP) reported stronger-than-expected earnings for its fourth quarter.

The company said it earned $0.77 per share in the fourth quarter on revenue of $2.04 billion versus expectations of $0.63 per share on revenue of $2.02 billion.

Advance Auto Parts expects FY 2018 sales of $9.1 billion to $9.4 billion, versus analysts’ estimates of $9.5 billion.

Equities Trading UP

The Hackett Group, Inc. (NASDAQ: HCKT) shares shot up 10 percent to $18.40 as the company posted upbeat quarterly earnings and increased its annual dividend from $0.30 to $0.34 per share.

Shares of Anthera Pharmaceuticals Inc (NASDAQ: ANTH) got a boost, shooting up 57 percent to $2.65. Roth Capital initiated coverage on Anthera Pharmaceuticals with a Buy rating and a $10.00 price target.

Quad/Graphics, Inc. (NASDAQ: QUAD) shares were also up, gaining 27 percent to $27.90 after the company reported upbeat Q4 earnings. The company also announced the acquisition of Ivie & Associates.

Equities Trading DOWN

Tile Shop Hldgs, Inc. (NASDAQ: TTS) shares dropped 27 percent to $6.15 after the company reported weaker-than-expected Q4 results.

Shares of QTS Realty Trust Inc (NYSE: QTS) were down 20 percent to $35.05. QTS Realty reported a Q4 loss of $0.29 per share on revenue of $118.9 million. The company also reported a strategic restructuring to accelerate growth and profitability.
Aegean Marine Petroleum Network Inc. (NYSE: ANW) was down, falling around 44 percent to $2.50 after the company announced plans to acquire HEC Europe for $367 million and reported preliminary earnings for the fourth quarter.


In commodity news, oil traded down 0.28 percent to $61.62 while gold traded down 0.06 percent to $1,330.40.

Silver traded up 0.86 percent Wednesday to $16.655, while copper rose 0.50 percent to $3.2295.


European shares closed mixed today. The eurozone’s STOXX 600 rose 0.16 percent, the Spanish Ibex Index declined 0.73 percent, while Italy’s FTSE MIB Index dipped 0.09 percent. Meanwhile the German DAX dropped 0.14 percent, and the French CAC 40 rose 0.23 percent while U.K. shares rose 0.48 percent.


The MBA's index of mortgage application activity declined 6.6 percent for the latest week.

The Johnson Redbook Retail Sales Index dropped 0.7 percent during the first two weeks of February versus January.

The IHS Markit's flash manufacturing PMI climbed to 55.9 in February, compared to previous reading of 55.5. However, economists were projecting a reading of 55.4. The services index rose to 55.9 in February versus 53.3. Economists expected a reading of 53.80.

Sales of existing homes dropped 3.2 percent at an annual rate of 5.38 million for January. However, economists expected a rate of 5.61 million.

The Federal Open Market Committee released minutes of its latest meeting.

Minneapolis Federal Reserve Bank President Neel Kashkari is set to speak in Minneapolis at 8:15 p.m. ET.

Posted-In: Mid-Afternoon Market UpdateNews Eurozone Commodities Global Intraday Update Markets


Related Articles (AAP + ANTH)

View Comments and Join the Discussion!
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at