Toward the end of trading Wednesday, the Dow traded up 0.49 percent to 21,719.37 while the NASDAQ gained 0.11 percent to
6,419.26. The S&P also rose, gaining 0.09 percent to 2,479.39.
Leading and Lagging Sectors
Telecommunications services shares climbed by 0.72 percent in the US market on Wednesday. Top gainers in the sector included
AT&T Inc. (NYSE: T), and TIM Participacoes SA
(ADR) (NYSE: TSU).
In trading on Wednesday, healthcare shares fell 0.36 percent. Meanwhile, top losers in the sector included Kindred
Healthcare, Inc. (NYSE: KND), down 15 percent, and
Amedisys Inc (NASDAQ: AMED), down 14 percent.
Top Headline
Ford Motor Company (NYSE: F) posted upbeat earnings for
its second quarter on Wednesday.
Ford posted quarterly adjusted earnings of $0.56 per share, on revenue of $39.85 billion. However, analysts were expecting
earnings of $0.43 per share on sales of $37.28 billion.
Ford projects full-year adjusted earnings of $1.65 to $1.85 per share, versus analysts’ estimates of $1.51 per share.
Equities Trading UP
Tetraphase Pharmaceuticals Inc (NASDAQ: TTPH)
shares shot up 23 percent to $8.49 as the company reported 'positive' topline Phase 3 IGNITE4 results. Stifel Nicolaus upgraded
Tetraphase Pharma from Hold to Buy.
Shares of iRobot Corporation (NASDAQ: IRBT) got a
boost, shooting up 24 percent to $108.90 after the company posted upbeat results for its second quarter and issued a strong FY17
forecast. iRobot also agreed to acquire privately-held Robopolis SAS.
Rocky Brands Inc (NASDAQ: RCKY) shares were also
up, gaining 13 percent to $14.73 as the company reported strong Q2 results.
Equities Trading DOWN
LSB Industries, Inc. (NYSE: LXU) shares dropped 28
percent to $7.70. LSB Industries posted Q2 loss of $0.53 per share on revenue of $122.9 million and issued an update on its
strategic alternatives review process. The company’s board decided to terminate the formal sale process portion of its strategic
review.
Shares of USANA Health Sciences, Inc. (NYSE: USNA)
were down 15 percent to $55.30 after the company posted downbeat Q2 earnings and lowered its FY17 guidance.
Triumph Group Inc (NYSE: TGI) was down, falling
around 17 percent to $27.75 after the company posted downbeat Q2 earnings and issued a weak forecast for the year.
Commodities
In commodity news, oil traded up 1.8 percent to $48.75 while gold traded down 0.23 percent to $1,255.60.
Silver traded down 0.59 percent Wednesday to $16.445, while copper rose 0.77 percent to $2.8685.
Eurozone
European shares closed higher today. The eurozone’s STOXX 600 gained 0.52 percent, the Spanish Ibex Index rose 0.49 percent,
while Italy’s FTSE MIB Index rose 0.56 percent. Meanwhile the German DAX climbed 0.33 percent, and the French CAC 40 gained 0.56
percent while U.K. shares rose 0.24 percent.
Economics
New-home sales were rose 0.8 percent to an annual rate of 610,000 in June. However, economists were expecting a 615,000 annual
pace.
Domestic crude supplies slipped 7.2 million barrels for the week ended July 21, the U.S. Energy Information Administration
reported. Analysts expected a drop of 2.5 million barrels. Gasoline stockpiles declined 1 million barrels, while distillate
stockpiles slipped 1.9 million barrels last week.
The Federal Reserve left interest rates unchanged.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.