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Market Overview

Mid-Afternoon Market Update: Hackett Group Rises Following Strong Results; Boot Barn Shares Dip

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Toward the end of trading Wednesday, the Dow traded down 0.19 percent to 17,725.14 while the NASDAQ declined 0.19 percent to 5,073.82. The S&P also fell, dropping 0.24 percent to 2,076.78.

Leading and Lagging Sectors

In trading on Wednesday, non-cyclical consumer goods & services shares jumped by 0.66 percent. Top gainers in the sector included SunOpta, Inc. (USA) (NASDAQ: STKL), up 7 percent, and Molson Coors Brewing Company (NYSE: TAP), up 5 percent.

Energy shares declined around 1.98 percent in Wednesday's trading. Meanwhile, top losers in the sector included Atwood Oceanics, Inc. (NYSE: ATW), down 14 percent, and Stone Energy Corporation (NYSE: SGY), off 13 percent.

Top Headline

Macy's, Inc. (NYSE: M) reported downbeat sales for the third quarter and lowered its forecast for the year.

The Cincinnati, Ohio-based company posted a quarterly profit of $118 million, or $0.36 per share, versus a year-ago profit of $217 million, or $0.61 per share. Excluding items, the company's adjusted earnings came in at $0.56 per share.

Its total sales slipped 5.2 percent to $5.87 billion. However, analysts were expecting earnings of $0.54 per share on revenue of $6.09 billion.

Equities Trading UP

Roundy's Inc (NYSE: RNDY) shares shot up 64 percent to $3.58 after the company agreed to be acquired by Kroger Co (NYSE: KR) for $3.60 per share in cash.

Shares of The Hackett Group, Inc. (NASDAQ: HCKT) got a boost, shooting up 18 percent to $18.76 on better-than-expected Q3 results.

AlarmCom Hldg Inc (NASDAQ: ALRM) shares were also up, gaining 17 percent to $17.00 after the company reported upbeat Q3 results.

Equities Trading DOWN

Everyday Health Inc (NYSE: EVDY) shares tumbled 33 percent to $6.77. Everyday Health reported a Q3 loss of $0.40 per share on revenue of $54.3 million.

Shares of Boot Barn Holdings Inc (NYSE: BOOT) were down 16 percent to $12.50. Boot Barn Holdings reported Q2 adjusted loss of $0.13 per share on sales of $129.7 million.

Macy's, Inc. (NYSE: M) was down, falling 14 percent to $40.42 after the company reported downbeat sales for the third quarter and lowered its forecast for the year.

Commodities

In commodity news, oil traded down 2.83 percent to $42.96, while gold traded down 0.42 percent to $1,083.90.

Silver traded down 0.46 percent Wednesday to $14.29, while copper fell 0.02 percent to $2.22.

Eurozone

European shares closed mostly higher today. The eurozone's STOXX 600 gained 0.65 percent, the Spanish Ibex Index rose 0.39 percent, while Italy's FTSE MIB Index slipped 0.26 percent. Meanwhile, the German DAX gained 0.70 percent, and the French CAC 40 jumped 0.82 percent, while U.K. shares rose 0.35 percent.

Economics

On the economics calendar Wednesday, there is no important data due out.

 

Related Articles (STKL + TAP)

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