Midway through trading Wednesday, the Dow traded up 0.30 percent to 19,308.81 while the NASDAQ gained 0.01 percent to 5,333.19.
The S&P also rose, gaining 0.21 percent to 2,216.83.
Leading and Lagging Sectors
On Wednesday, basic materials shares gained by 1.12 percent. Meanwhile, top gainers in the sector included Intrepid Potash,
Inc. (NYSE: IPI), and Asanko Gold Inc (NYSE:
AKG).
In trading on Wednesday, healthcare shares fell by 1.62 percent. Meanwhile, top losers in the sector included Ariad
Pharmaceuticals, Inc. (NASDAQ: ARIA), down 8 percent,
and Exelixis, Inc. (NASDAQ: EXEL), down 8
percent.
Top Headline
Korn/Ferry International (NYSE: KFY) reported
better-than-expected results for its second quarter on Wednesday.
Korn/Ferry reported Q2 earnings of $0.59 per share on revenue of $415 million. Analysts were expecting earnings of $0.57 per
share on revenue of $391 million.
The company expects Q3 fee revenue of $370 to $390 million and earnings of$0.48 to $0.56 per share.
Equities Trading UP
Anthera Pharmaceuticals Inc (NASDAQ: ANTH) shares
shot up 35 percent to $1.98 after the company reported that blisibimod Bright-SC IgA nephropathy continued to demonstrate 48 week
positive trend analysis.
Shares of EMCORE Corporation (NASDAQ: EMKR) got a
boost, shooting up 25 percent to $8.05 after the company posted upbeat Q4 results.
Dave & Buster's Entertainment, Inc. (NASDAQ: PLAY)
shares were also up, gaining 18 percent to $56.78 after the company reported stronger-than-expected results for its third quarter
and boosted its full year net income guidance.
Equities Trading DOWN
Sigma Designs Inc (NASDAQ: SIGM) shares dropped 30
percent to $5.43. Sigma Designs reported fiscal third-quarter net income of $221,000 on revenue of $62.7 million.
Shares of Applied DNA Sciences Inc (NASDAQ: APDN)
were down 11 percent to $2.00. Applied DNA Sciences reported a Q4 loss of $2.4 million on revenue of $1.6 million.
Oxford Industries Inc (NYSE: OXM) was down, falling
around 11 percent to $63.61. Oxford Industries reported a narrower-than-expected loss for its third quarter. The company projects
full-year earnings of $3.50 to $3.65 per share, and revenue of $1.02 billion to $1.03 billion.
Commodities
In commodity news, oil traded down 1.18 percent to $50.33 while gold traded up 0.77 percent to $1,179.10.
Silver traded up 2.35 percent Wednesday to $17.21, while copper fell 1.51 percent to $2.64.
Eurozone
European shares were higher today. The eurozone’s STOXX 600 gained 0.89 percent, the Spanish Ibex Index rose 0.59 percent, while
Italy’s FTSE MIB Index surged 2.10 percent. Meanwhile the German DAX climbed 1.95 percent, and the French CAC 40 gained 1.23
percent while U.K. shares rose 1.81 percent.
Economics
The MBA’s index of mortgage application activity declined 0.7 percent for the latest week.
Job openings declined 5.5 million in October, versus a revised reading of 5.6 million in September, the Labor Department
reported.
U.S crude supplies dropped 2.4 million barrels for the week ended December 2, the U.S. Energy Information Administration
reported. However, analysts were projecting a decline of 1.7 million barrels. Gasoline supplies rose 3.4 million barrels, while
distillate stockpiles increased 2.5 million barrels.
Data on consumer credit for October will be released at 3:00 p.m. ET.
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