Skip to main content

Market Overview

Annie's Surges On Acquisition News; Pep Boys Shares Dip

Share:
Annie's Surges On Acquisition News; Pep Boys Shares Dip

Midway through trading Tuesday, the Dow traded down 0.52 percent to 17,023.05 while the NASDAQ declined 0.40 percent to 4,574.09. The S&P also fell, dropping 0.45 percent to 1,992.50.

Leading and Lagging Sectors

In trading on Tuesday, energy shares fell by just 0.19 percent. Meanwhile, top gainers in the sector included CGG (NYSE: CGG), up 3.6 percent, and Enduro Royalty Trust (NYSE: NDRO), up 3.3 percent.

Financial shares tumbled 0.90 percent in trading on Tuesday. Meanwhile, top decliners in the sector included Palmetto Bancshares (NASDAQ: PLMT), down 8 percent, and Crawford & Company (NYSE: CRD-B), off 3.4 percent.

Top Headline

Barnes & Noble (NYSE: BKS) reported a narrower-than-expected loss for the fiscal first quarter. However, the company’s sales missed expectations.

The New-York based company posted a quarterly loss of $28.4 million, or $0.56 per share, versus a year-ago loss of $87 million, or $1.56 per share. The year-ago results included $41 million, or $0.70 per share in valuation allowance against certain deferred tax assets.

Its sales dropped 7% to $1.24 billion. However, analysts were expecting a loss of $0.63 per share on revenue of $1.26 billion.

Equities Trading UP

Annie's (NYSE: BNNY) shares shot up 37.53 percent to $46.08 after the company agreed to be acquired by General Mills (NYSE: GIS) for $46 per share in cash.

Shares of Burlington Stores (NYSE: BURL) got a boost, shooting up 4.01 percent to $37.51 after the company reported a narrower-than-expected second-quarter loss and lifted its forecast for the year.

HD Supply Holdings (NASDAQ: HDS) shares were also up, gaining 3.47 percent to $28.34 after the company reported better-than-expected Q2 results.

Equities Trading DOWN

Shares of FuelCell Energy (NASDAQ: FCEL) were down 9.88 percent to $2.41 after the company reported downbeat quarterly revenue. The company reported in-line loss for the quarter and announced an agreement to sell University fuel cell project to NRG Energy (NYSE: NRG)

Pep Boys - Manny, Moe & Jack (NYSE: PBY) shares tumbled 10.52 percent to $10.21 after the company reported Q2 earnings of $0.00 per share on revenue of $525.80 million. However, analysts were expecting earnings of $0.17 per share on revenue of $534.26 million.

Francesca's Holdings (NASDAQ: FRAN) was down, falling 2.58 percent to $13.61 after the company reported weaker-than-expected second-quarter results and lowered its earnings forecast for fiscal year 2014.

Commodities

In commodity news, oil traded up 0.44 percent to $93.07, while gold traded up 0.13 percent to $1,255.90.

Silver traded up 0.10 percent Tuesday to $18.98, while copper fell 2.29 percent to $3.10.

Eurozone

European shares were lower today. The eurozone’s STOXX 600 fell 0.33 percent, the Spanish Ibex Index dropped 1.27 percent, while Italy’s FTSE MIB Index declined 0.60 percent. Meanwhile, the German DAX fell 0.53 percent and the French CAC 40 fell 0.60 percent while UK shares dropped 0.28 percent.

Economics

The NFIB Small Business Optimism Index rose to 96.10 in August, versus a prior reading of 95.70. However, economists were expecting a reading of 95.90.

The ICSC-Goldman Store Sales Index rose 0.7% in the week ended Saturday versus the earlier week.

The Johnson Redbook Retail Sales Index gained 0.2% in the first week of September versus August.

 

Related Articles (BZSUM)

View Comments and Join the Discussion!

Posted-In: Earnings News Guidance Eurozone Futures Commodities Markets

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.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
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 vipaccounts@benzinga.com