Midway through trading Tuesday, the Dow traded up 0.06 percent to 18,544.83 while the NASDAQ declined 0.19 percent to 5,046.25. The
S&P also fell, dropping 0.13 percent to 2,164.00.
Leading and Lagging Sectors
On Tuesday, industrial shares slipped by just 0.02 percent. Top gainers in the sector included Star Bulk Carriers Corp.
(NASDAQ: SBLK) and NL Industries Inc (NYSE: NL).
In trading on Tuesday, basic materials shares fell by 1.53 percent. Meanwhile, top losers in the sector included Vale SA
(ADR) (NYSE: VALE), down 6 percent, and Olympic Steel,
Inc. (NASDAQ: ZEUS), down 7 percent.
Top Headline
Goldman Sachs Group Inc (NYSE: GS) reported
stronger-than-expected results for its second quarter on Tuesday.
The bank posted quarterly earnings $3.72 per share on revenue of $7.93 billion. However, analysts were expecting earnings of $3
per share on sales of $7.58 billion.
Its revenue from trading fixed income, commodities and currencies climbed 20 percent to $1.93 billion, while revenue from
trading increased 2 percent to $3.68 billion in the quarter.
Equities Trading UP
Golden Enterprises, Inc. (NASDAQ: GLDC) shares
shot up 58 percent to $11.88 following a $12 per share cash bid from Utz Quality Foods.
Shares of Hudson Technologies, Inc. (NASDAQ: HDSN)
got a boost, shooting up 37 percent to $5.19 after the company reported that it has been awarded a Department of Defense contract
with an estimated maximum value of $400 million.
Cerulean Pharma Inc (NASDAQ: CERU) shares were
also up, gaining 15 percent to $2.63 as the company reported that it has received the FDA Fast Track designation for CRLX101 for
the treatment of platinum-resistant ovarian cancer.
Equities Trading DOWN
Super Micro Computer, Inc. (NASDAQ: SMCI) shares
dropped 28 percent to $18.87 after the company lowered its Q4 forecast and announced a $100 million buyback plan.
Shares of Netflix, Inc. (NASDAQ: NFLX) were down
14 percent to $85.07. Netflix posted upbeat earnings for its second quarter, but the company reported weak subscriber growth for
the quarter. Netflix added 1.7 million subscribers worldwide during the quarter, well short of the company’s projections.
SciClone Pharmaceuticals, Inc. (NASDAQ: SCLN) was
down, falling around 18 percent to $10.92. SciClone Pharma reported that it is no longer speaking with acquirers and plans to
remain an independent company. The company projects FY2016 earnings of $0.70 to $0.74 per share on sales of $158.0 million to 163.0
million.
Commodities
In commodity news, oil traded down 0.64 percent to $44.95 while gold traded up 0.23 percent to $1,332.40.
Silver traded down 0.27 percent Tuesday to $20.02, while copper rose 0.80 percent to $2.26.
Eurozone
European shares were mostly lower today. The eurozone’s STOXX 600 declined 0.47 percent, the Spanish Ibex Index slipped 0.66
percent, while Italy’s FTSE MIB Index dropped 1.50 percent. Meanwhile the German DAX declined 0.95 percent, and the French CAC 40
declined 0.75 percent, while U.K. shares rose 0.04 percent.
Economics
U.S. housing starts rose 4.8 percent to an annual pace of 1.19 million in June. However, economists were expecting a 1.17
million pace. Building permits increased 1.5 percent to an annual pace of 1.15 million.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.