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Market Overview

Mid-Day Market Update: Keurig Green Mountain Rises On Strong Results; JinkoSolar Shares Decline

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Midway through trading Thursday, the Dow traded down 0.07 percent to 17,724.53 while the NASDAQ climbed 0.05 percent to 5,077.78. The S&P also fell, dropping 0.16 percent to 2,080.16.

Leading and Lagging Sectors

In trading on Thursday, technology shares rose by 0.66 percent. Top gainers in the sector included Gilat Satellite Networks Ltd. (NASDAQ: GILT), up 9 percent, and Silicon Graphics International Corp (NASDAQ: SGI), up 6 percent.

Healthcare shares slipped by 1.08 percent in Thursday's trading. Meanwhile, top losers in the sector included Tenet Healthcare Corp (NYSE: THC), down 9 percent, and Community Health Systems (NYSE: CYH), off 9 percent.

Top Headline

J M Smucker Co (NYSE: SJM) reported better-than-expected earnings for its fiscal second quarter on Thursday.

The Orrville, Ohio-based company posted quarterly net income of $176 million, or $1.47 per share, versus $158.3 million, or $1.55 per share, in the year-ago quarter. Its non-GAAP earnings came in at $1.62 per share for the latest quarter.

Its sales climbed 40 percent to $2.08 billion. However, analysts were expecting earnings of $1.51 per share on revenue of $2.08 billion.

Equities Trading UP

Gold Fields Limited (ADR) (NYSE: GFI) shares shot up 17 percent to $2.53. Gold Fields reported normalised earnings of US$22 million for the third quarter.

Shares of Keurig Green Mountain Inc (NASDAQ: GMCR) got a boost, shooting up 22 percent to $49.42 after the company reported upbeat results for its fiscal fourth quarter and lifted its dividend.

Ctrip.com International, Ltd. (ADR) (NASDAQ: CTRP) shares were also up, gaining 18 percent to $112.51. Ctrip reported Q3 earnings of $0.30 per share on revenue of $528.001 million.

Equities Trading DOWN

Kirkland's, Inc. (NASDAQ: KIRK) shares tumbled 30 percent to $14.17 after the company reported downbeat Q3 earnings and lowered its FY16 earnings forecast.

Shares of JinkoSolar Holding Co., Ltd. (NYSE: JKS) were down 10 percent to $22.67. JinkoSolar reported Q3 adjusted earnings of $1.28 per ADS on revenue of $637.6 million.

Valero Energy Partners LP (NYSE: VLP) was down, falling 8 percent to $45.90 after the company priced 4.3 million units at $46.25 per unit.

Commodities

In commodity news, oil traded down 1.20 percent to $40.26, while gold traded up 1.37 percent to $1,083.30.

Silver traded up 1.66 percent Thursday to $14.35, while copper rose 0.24 percent to $2.09.

Eurozone

European shares were higher today. The eurozone's STOXX 600 rose 0.43 percent, the Spanish Ibex Index jumped 0.91 percent, while Italy's FTSE MIB Index surged 0.45 percent. Meanwhile, the German DAX climbed 1.14 percent, and the French CAC 40 gained 0.17 percent, while U.K. shares rose 0.92 percent.

Economics

US jobless claims slipped 5,000 to 271,000 in the week ended November 14. Economists were expecting claims to drop to 271,000 in the week.

The Philadelphia Fed manufacturing index gained to 1.9 in November. However, economists were expecting a reading of -1.

The leading economic index rose 0.60 percent in October, versus economists' expectations for a 0.50 percent growth.

 

Related Articles (GILT + SGI)

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Posted-In: Earnings News Guidance Eurozone Commodities Global Intraday Update Markets

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