Following the market opening Thursday, the Dow traded down 0.02 percent to 16,903.48 while the NASDAQ declined 0.07 percent to 4,359.82. The S&P rose, gaining 0.01 percent to 1,957.15.
Leading and Lagging Sectors
Utilities sector was the top gainer in the US market on Thursday. Top gainers in the sector included Cleco CNL, Korea Electric Power KEP, and Public Service Enterprise Group PEG.
Technology shares fell around 0.10 percent in Thursday’s trading. Top decliners in the sector included Viasystems Group VIAS, down 7.1 percent, and Ultratech UTEK, off 6.3 percent.
Top Headline
BlackBerry BBRY reported a narrower-than-expected fiscal first-quarter loss.
BlackBerry posted its quarterly GAAP net income of $23 million, or $0.04 per share, versus a year-ago loss of $84 million, or $0.16 per share. Excluding certain items, the company lost $0.11 per share.
Its revenue fell 1% to $966 million from $976 million. However, analysts were expecting for a loss of $0.28 per share on revenue of $1.047 billion.
Equities Trading UP
Measurement Specialties MEAS shares shot up 10.33 percent to $86.06 after the company agreed to be acquired by TE Connectivity TEL for $86 cash per share.
Shares of The Kroger Co KR got a boost, shooting up 5.54 percent to $49.89 after the company reported strong Q1 results and raised its FY outlook.
BlackBerry BBRY shares were also up, gaining 14.41 percent to $9.49 after the company reported a narrower-than-expected first-quarter loss.
Equities Trading DOWN
Shares of Pier 1 Imports PIR were 8.32 percent to $16.74 after the company reported a drop in its fiscal first-quarter profit and lowered its forecast.
KBR KBR shares tumbled 8.13 percent to $24.18 after the company reported a Q1 loss of $0.29 per share on revenue of $1.63 billion. The company said it would undergo a strategic review of its businesses.
Rite Aid RAD was down, falling 3.47 percent to $7.18 after the company reported a drop in its first-quarter earnings. Rite Aid’s quarterly profit declined to $41.4 million, or $0.04 per share, from a year-earlier profit of $89.7 million, or $0.09 per share.
Commodities
In commodity news, oil traded down 0.23 percent to $105.73, while gold traded up 1.23 percent to $1,288.40.
Silver traded up 1.70 percent Thursday to $20.12, while copper rose 0.03 percent to $3.06.
Eurozone
European shares were higher today.
The eurozone’s STOXX 600 surged 0.78 percent, the Spanish Ibex Index gained 1.10 percent, while Italy’s FTSE MIB Index rose 1.02 percent.
Meanwhile, the German DAX gained 0.85 percent and the French CAC 40 climbed 1 percent while UK shares gained 0.73 percent.
Economics
US initial jobless claims fell 6,000 to 312,000 in the week ended June 14. However, economists were projecting claims to reach 314,000 in the week.
The Philadelphia Fed's manufacturing index rose to 17.80 in June, versus a reading of 15.40 in May. However, economists were expecting a reading of 14.0.
The Conference Board's index of leading indicators increased 0.5% to 101.7 in May.
The Treasury is set to auction 3-month, 6-month and 52-week bills. The Treasury will also auction 2-year, 5-year and 7-year notes.
Data on money supply will be released at 4:30 p.m. ET.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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