Toward the end of trading Wednesday, the Dow traded down 0.23 percent to 21,418.72 while the NASDAQ climbed 0.56 percent to
6,222.96. The S&P also fell, dropping 0.08 percent to 2,435.05.
Leading and Lagging Sectors
Healthcare shares rose by 1.02 percent in the US market on Wednesday. Top gainers in the sector included BioDelivery Sciences
International, Inc. (NASDAQ: BDSI), NewLink Genetics
Corp (NASDAQ: NLNK), and ImmunoGen, Inc. (NASDAQ:
IMGN).
In trading on Wednesday, energy shares fell by 1.39 percent. Meanwhile, top losers in the sector included Bill Barrett
Corporation (NYSE: BBG), down 13 percent, and Superior
Energy Services, Inc. (NASDAQ: SPN), down 12 percent.
Top Headline
CarMax, Inc (NYSE: KMX) reported
stronger-than-expected results for its first quarter on Wednesday.
CarMax posted quarterly earnings of $1.13 per share on revenue of $4.54 billion. However, analysts were expecting earnings of
$0.98 per share on revenue of $4.46 billion.
Equities Trading UP
Winnebago Industries, Inc. (NYSE: WGO) shares shot up
11 percent to $32.45 as the company reported better-tha n-expected results for its third quarter.
Shares of La-Z-Boy Incorporated (NYSE: LZB) got a
boost, shooting up 19 percent to $31.30 as the company posted better-than-expected results for its fourth quarter.
Red Hat Inc (NASDAQ: RHT) shares were also up,
gaining 10 percent to $99.14 after the company reported stronger-than-expected results for its first quarter and raised its
guidance for the year. Stifel upgraded Red Hat from Hold to Buy.
Equities Trading DOWN
CIRCOR International, Inc. (NYSE: CIR) shares dropped
12 percent to $56.36. Seaport Global Securities downgraded CIRCOR from Neutral to Sell.
Shares of Bill Barrett Corporation (NYSE: BBG) were
down 13 percent to $2.87. Seaport Global downgraded Bill Barrett from Hold to Sell.
Basic Energy Services, Inc. (NYSE: BAS) was down,
falling around 11 percent to $21.31. Seaport Global Securities downgraded Basic Energy Services from Buy to Neutral.
Commodities
In commodity news, oil traded down 3.01 percent to $42.20 while gold traded up 0.22 percent to $1,246.20.
Silver traded down 0.34 percent Wednesday to $16.42, while copper rose 1.36 percent to $2.607.
Eurozone
European shares closed mostly lower today. The eurozone’s STOXX 600 slipped 0.18 percent, the Spanish Ibex Index fell 0.05
percent, while Italy’s FTSE MIB Index rose 1.26 percent. Meanwhile the German DAX dropped 0.32 percent, and the French CAC 40
declined 0.37 percent while U.K. shares fell 0.33 percent.
Economics
The MBA’s index of mortgage application activity rose 0.6 percent for the latest week.
Existing home sales rose 1.1 percent to an annual rate of 5.62 million for May. However, economists were expecting a 5.60
million rate.
Domestic crude supplies dropped 2.54 million barrels for the week ended June 16, the U.S. Energy Information Administration
reported. Analysts projected a slide of 2 million barrels. Gasoline stockpiles slipped 578,000 barrels, while distillate stockpiles
gained 1.08 million barrels last week.
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