Market Overview

Mid-Day Market Update: Aspen Technology Rises On Upbeat Profit, Nordstrom Shares Slip

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Midway through trading Friday, the Dow traded down 0.02 percent to 15,109.31 while the NASDAQ surged 0.22 percent to 3,614.16. The S&P fell, dropping 0.05 percent to 1,660.43.

Index Technicals:

Top Headline

Dell (NASDAQ: DELL) reported a 72% fall in its fiscal second-quarter earnings.

Dell's quarterly earnings declined to $204 million, or $0.12 per share, from $732 million, or $0.42 per share, in the year-ago period. Excluding one-time items, Dell would have earned $0.25 per share.

Its revenue came in at $14.5 billion. However, analysts were expecting a profit of $0.24 per share on revenue of $14.1 million.

Equities Trading UP

E-House (China) Holdings (NYSE: EJ) shot up 10.58 percent to $7.00 after the company reported Q2 results.

Shares of Aspen Technology (NASDAQ: AZPN) got a boost, shooting up 9.84 percent to $34.95 after the company reported better-than-expected profit for its fourth fiscal quarter. Benchmark Company reiterated its Buy rating on the stock.

Pandora Media (NYSE: P) was also up, gaining 7.66 percent to $21.37 after Goldman upgraded the stock from Neutral to Buy.

Equities Trading DOWN

Shares of Jos. A Bank Clothiers (NASDAQ: JOSB) were down 5.49 percent to $41.68 after the company issued weak Q2 earnings outlook.

Nordstrom (NYSE: JWN) shares tumbled 3.42 percent to $57.30 after the company cut its profit view for the year.

Universal Truckload Services (NASDAQ: UACL) was down, falling 5.91 percent to $23.90 after the company priced its 1 million share offering at $23.00 per share.

Commodities

In commodity news, oil traded up 0.68 percent to $108.06, while gold traded up 0.44 percent to $1,366.90.

Silver traded up 0.74 percent Friday to $23.16, while copper rose 0.91 percent to $3.37.

Euro zone

European shares were higher today. The Spanish Ibex Index gained 0.96 percent, while Italy's FTSE MIB Index surged 1.18%. Meanwhile, the German DAX rose 0.18 percent and the French CAC 40 gained 0.66 percent while U.K. shares rose 0.22 percent.

Economics

US housing starts increased 5.9% to an annual rate of 896,000 in July. However, economists were projecting housing starts to reach an annual rate of 915,000.

US non-farm business productivity rose to an annual rate of 0.9% in the second quarter. Economists were estimating productivity to rise 0.7% in the quarter.

The preliminary reading of the Reuter's/University of Michigan's consumer sentiment index dropped to 80.0 in August, from 85.1 in July. However, economists were expecting a reading of 85.2.

Latest Ratings for DELL

DateFirmActionFromTo
Feb 2021JP MorganMaintainsOverweight
Feb 2021Deutsche BankMaintainsBuy
Feb 2021Goldman SachsUpgradesNeutralBuy

View More Analyst Ratings for DELL
View the Latest Analyst Ratings

 

Related Articles (DELL + EJ)

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