Courtesy of Benzinga.
Following the market opening Wednesday, the Dow traded down 0.09 percent to 16,998.68 while the NASDAQ declined 0.05 percent to 4,550.23. The S&P also fell, dropping 0.12 percent to 1,986.04.
Leading and Lagging Sectors
In trading on Wednesday, financial shares rose 0.10 percent. Meanwhile, top gainers in the sector included Investors Title Co (NASDAQ: ITIC), up 3.4 percent, and LCNB (NASDAQ: LCNB), up 2.1 percent.
Energy shares tumbled 0.83 percent in trading on Wednesday. Meanwhile, top decliners in the sector included Texas Pacific Land Trust (NYSE: TPL), down 4.9 percent, and Hanwha SolarOne Co (NASDAQ: HSOL), off 4.5 percent.
Top Headline
On Tuesday, Krispy Kreme Doughnuts (NYSE: KKD) posted a weaker-than-expected second-quarter profit.
Net income for the quarter grew from $4.7 million, or 7 cents a share in the year-ago period, to $5.75 million, or $0.08 cents a share. Excluding items, income was $0.13 a share, down from $0.14 last year.
Revenue increased 6.9 percent from $112.7 million to $120.5 million. Earnings missed analysts' expectations for $0.16 a share on revenue of $118.13.
Equities Trading UP
NPS Pharmaceuticals (NASDAQ: NPSP) shares shot up 16.03 percent to $29.90 after the company reported that the FDA has posted briefing materials for Advisory Committee meeting reviewing Natpara for Hypoparathyroidism
Shares of Lands' End (NASDAQ: LE) got a boost, shooting up 11.76 percent to $37.26 after the company reported better-than-expected fiscal second-quarter results.
Palo Alto Networks (NYSE: PANW) shares were also up, gaining 4.38 percent to $93.19 after the company posted better-than-expected FQ4 revenue and issued a strong revenue forecast for the current quarter.
Equities Trading DOWN
Shares of GT Advanced Technologies (NASDAQ: GTAT) were down 9.37 percent to $13.54. Goldman Sachs downgraded GT Advanced Technologies from Buy to Neutral and lowered the price target from $20.00 to $14.00.
Krispy Kreme Doughnuts (NYSE: KKD) shares tumbled 4.26 percent to $16.86 after the company posted a weaker-than-expected second-quarter profit.
eBay (NASDAQ: EBAY) was down, falling 3.34 percent to $50.97. Analysts at Piper Jaffray downgraded eBay from Overweight to Neutral.
Commodities
In commodity news, oil traded down 0.56 percent to $92.23, while gold traded up 0.10 percent to $1,249.80.
Silver traded up 0.45 percent Wednesday to $19.01, while copper rose 0.40 percent to $3.11.
Eurozone
European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.10 percent, the Spanish Ibex Index dropped 0.18 percent, while Italy’s FTSE MIB Index rose 0.19 percent. Meanwhile, the German DAX fell 0.23 percent and the French CAC 40 declined 0.06 percent while UK shares gained 0.01 percent.
Economics
US wholesale inventories increased 0.1% in July, while wholesale sales rose 0.7% in the month.
The MBA reported that its index of mortgage application activity fell 7.20% in the week ended September 5.
The Treasury is set to auction 10-year notes.
Posted-In: Earnings News Guidance Eurozone Futures Commodities FDA Econ #s
