Mid-After Market Update; Markets Rise As Apple Dominates Headlines

​As the Thursday trading day winds down, the Dow is trading up 0.29 percent to 16,680.70 while the NASDAQ ran up 0.44 percent 4,243.73 and S&P 500 increased 0.44 percent to 1,918.10.
Leading and Lagging Trades

Top gainers for the non-cyclical consumer goods & services sector were The Hillshire Brands HSH, up 17.59 to $52.70, and Tyson Foods TSN up 6.44% to $43.37/

Top Headline

Yesterday Apple AAPL announced their purchase of Beats Electronics, LLC for $3B making it the company's largest acquisition in history. Apple is trading up 1.83% today to $635.54.

Equities Trading Up

The Hillshire Brands HSH surged on the day as news of Tyson Brands TSN announced a $50 per share bid for the firm.

Popeyes Louisiana Kitchen PLKI maintained their early morning strength, shooting up 14.60% to $43.63 after reporting an upbeat Q1 statement and raising their FY14 earnings forecast.

Palo Alto PANW shares were also up, gaining 5.39% to $73.26 after the company reported better-than-expected third-quarter results and said it settled patent dispute with Juniper Networks JNPR.

Equities Trading Down

Booz Allen Hamilton Holding Corporation BAH is down 6.33% to $22.14 on news of Carlyle selling 10 million Class A shares.

Santander Consumer USA Holdings SC is trading down 4.90% to $19.70 after stating the company will not pay any future dividends until it submits a capital plan to the FED that receives a Non-Objection response.

Shares of Fabrinet FN were down 4.24 percent to $18.73 after the company priced a secondary offering by selling shareholder of 3.15 million shares.

Commodities

In commodity news, oil traded up 0.84 percent to $103.56, while gold traded down 0.35 percent to $1,255.30.

Silver traded down 0.28 percent Thursday to $19.00 while copper rose 0.36% percent to $3.20.

Euro zone
European shares were mostly lower today. The eurozone’s STOXX 600 rose 0.06 percent, the Spanish Ibex Index fell 0.21 percent, while Italy’s FTSE MIB Index tumbled 0.35 percent. Meanwhile, the German DAX closed flat percent and the French CAC 40 declined 0.02 percent while UK shares rose 0.29 percent.
Economics
The US economy shrank 1% in the first quarter, versus economists’ expectations for a 0.5% decline. US exports dropped 6%, while imports increased 0.7%.

US jobless claims declined 27,000 to 300,000 in the week ended May 24. However, economists were projecting claims to reach 318,000 in the week.

The pending home sales index increased 0.4% to reach 97.8 in April versus 97.4 in March, according to the National Association of Realtors.

Supplies of natural gas climbed 114 billion cubic feet for the week ended May 23, the US Energy Information Administration said. However, analysts were expecting a rise of 107 billion cubic feet to 111 billion cubic feet.

Data on money supply will be released at 4:30 p.m. ET.

Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceEurozoneCommoditiesOfferingsGlobalEconomicsIntraday UpdateMarketsMoversTech
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...