Loading...
Loading...
Midway through trading Wednesday, the Dow traded down 1.22 percent to 16,231.30 while the NASDAQ slipped 1.20 percent to 4,449.48. The S&P also fell, dropping 1.18 percent to 1,898.53.
Leading and Lagging Sectors
On Wednesday, utilities shares slipped by just 0.5 percent. Top gainers in the sector included
Edison International EIX,
Ormat Technologies, Inc.ORA, and
El Paso Electric Company EE.
In trading on Wednesday, basic materials shares dropped by 1.98 percent. Meanwhile, top losers in the sector included
Teck Resources Ltd (USA)TCK, down 10 percent, and
BHP Billiton plc (ADR)BBL, down 9 percent.
Top HeadlineLowe's Companies, Inc.LOW reported in-line earnings for its fourth quarter. However, the company's revenue exceeded analysts' estimates.
Lowe's said it earned $0.59 per share in the fourth quarter on revenue of $13.2 billion. Wall Street analysts were expecting the company to earn $0.59 per share on revenue of $13.1 billion.
Comparable sales rose 5.2 percent in the quarter, while comparable sales for its U.S. home improvement business rose 5.5 percent.
Looking forward to fiscal 2016, Lowe's expects to earn $4.00 per share for the full year which is three cents above Wall Street's expectations.
Equities Trading UP Encana Corporation (USA) shares shot up 19 percent to $3.58 after the company reported better-than-expected Q4 earnings.
Shares of
IxiaXXIALoading...
Loading...
got a boost, shooting up 25 percent to $11.72 after the company reported stronger-than-expected Q4 results.
Sequential Brands Group IncSQBG shares were also up, gaining 26 percent to $7.14 after the company reported upbeat Q4 results.
Equities Trading DOWN The Advisory Board CompanyABCO shares dropped 29 percent to $25.77. Advisory Board Company reported upbeat Q4 earnings, but the company missed analysts' sales estimates.
Shares of
C&J Energy Services, Ltd. CJES were down 38 percent to $1.00. Citigroup downgraded C&J Energy Services from Buy to Neutral.
Avis Budget Group Inc.CAR was down, falling around 26 percent to $22.14 after the company reported downbeat quarterly revenue and issued a weak FY16 earnings outlook.
Commodities
In commodity news, oil traded down 3.26 percent to $30.83, while gold traded up 2.23 percent to $1,249.90.
Silver traded up 1.31 percent Wednesday to $15.48, while copper fell 1.04 percent to $2.09.
Eurozone
European shares were lower today. The eurozone's STOXX 600 dropped 2.40 percent, the Spanish Ibex Index slipped 3.17 percent, while Italy's FTSE MIB Index declined 2.86 percent. Meanwhile, the German DAX slipped 2.64 percent, and the French CAC 40 declined 2.21 percent, while U.K. shares fell 1.72 percent.
Economics
The Markit flash services PMI dropped to 49.8 in February, versus a reading of 53.2 in January.
Sales of new homes declined 9.2 percent to an annual rate of 494,000 in January.
Loading...
Loading...
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Posted In: EarningsNewsGuidanceEurozoneCommoditiesGlobalIntraday UpdateMarketsMoversConsumer DiscretionaryHome Improvement RetailMid-Day Market Update
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!
Already a member?Sign in