Toward the end of trading Friday, the Dow traded up 0.38% to 26,830.08 while the NASDAQ rose 0.1% to 8,124.76. The S&P also rose, gaining 0.22% to 2,982.64.
Leading and Lagging Sectors
Materials shares climbed 0.6% on Friday. Meanwhile, top gainers in the sector included Ferroglobe PLC GSM, up 6%, and Ranpak Holdings Corp. PACK, up 8%.
In trading on Friday, utilities shares fell 0.4%.
Top Headline
Genesco Inc. GCO reported better-than-expected earnings for its second quarter and raised FY20 EPS guidance. However, Genesco’s sales misses estimates.
Genesco reported second-quarter earnings of 15 cents per share, which beat the analyst consensus estimate by 17 cents. The company reported quarterly sales of $486.573 million, which missed the analyst consensus estimate of $487.93 million.
Genesco raised fiscal year 2020 EPS guidance from $3.35-$3.75 to $3.80-$4.20 versus the $3.67 estimate.
Equities Trading UP
Endo International plc ENDP shares shot up 31% to $3.0950 after the company announced it has submitted a biologics license application to the FDA for collagenase clostridium histolyticum for the treatment of cellulite in the buttocks.
Shares of DocuSign, Inc. DOCU got a boost, shooting up 20% to $55.51 after the company reported better-than-expected Q2 sales results.
Guidewire Software, Inc. GWRE shares were also up, gaining 17% to $111.22 after reporting upbeat quarterly results.
Equities Trading DOWN
Domo, Inc. DOMO shares tumbled 36% to $16.15 after the company issued Q3 and FY20 EPS and sales guidance below analyst estimates. Credit Suisse also downgraded the stock from Outperform to Neutral and lowered the price target from $45 to $20.
Shares of Avid Bioservices, Inc. CDMO were down 20% to $5.65 after the company reported worse-than-expected Q1 EPS results.
Arcadia Biosciences, Inc. RKDA was down, falling 10% to $6.79 after the company announced a 1.319 million share common stock offering at $7.5825 per share.
Commodities
In commodity news, oil traded up 0.2% to $56.43, while gold traded down 0.5% to $1,517.70.
Silver traded down 3% Friday to $18.245, while copper fell 0.4% to $2.631.
Euro zone
European shares closed mostly higher today. The eurozone’s STOXX 600 climbed 0.32%, the Spanish Ibex Index fell 0.03%, while Italy’s FTSE MIB Index fell 0.04%. Meanwhile, the German DAX rose 0.54% and the French CAC 40 climbed 0.19% while UK shares rose 0.15%.
Economics
The U.S. economy added 130,000 new jobs in August. However, economists were expecting a gain of 158,000 jobs. The unemployment rate was unchanged at 3.7% for August.
The total number of active U.S. oil rigs slipped by 4 to 738 rigs this week, Baker Hughes Inc reported.
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