Following the market opening Wednesday, the Dow traded up 0.01 percent to 22,122.16 while the NASDAQ declined 0.01 percent to
6,453.88. The S&P also rose, gaining 0.01 percent to 2,496.71.
Leading and Lagging Sectors
Wednesday morning, the energy shares surged 0.55 percent. Meanwhile, top gainers in the sector included Ballard Power Systems
Inc. (USA) (NASDAQ: BLDP), up 13 percent, and Oasis
Petroleum Inc. (NYSE: OAS), up 10 percent.
In trading on Wednesday, basic materials shares fell 0.77 percent. Meanwhile, top losers in the sector included
Cleveland-Cliffs Inc (NYSE: CLF), down 4 percent, and
Intrepid Potash, Inc. (NYSE: IPI) down 5 percent.
Top Headline
Cracker Barrel Old Country Store, Inc. (NASDAQ: CBRL) reported better-than-expected earnings for its fourth quarter, while sales
missed estimates.
Cracker Barrel expects Q4 earnings of $2.23 per share on revenue of $743.2 million. Analysts were projecting earnings of $2.18
per share on revenue of $746.7 million. Same-store sales dropped 1.7 percent in the quarter.
Cracker Barrel expects FY18 earnings of $8.85 to $9 per share, on revenue of $3.1 billion.
Equities Trading UP
Inventure Foods Inc (NASDAQ: SNAK) shares shot up
22 percent to $4.10 after the company reported the sale of its frozen division for $50 million.
Shares of Ballard Power Systems Inc. (USA) (NASDAQ: BLDP) got a boost, shooting up 12 percent to $4.17 after the company reported a
collaboration with Nisshinbo Holdings to develop a Non Precious Metal Catalyst.
Finish Line Inc (NASDAQ: FINL) shares were also
up, gaining 6 percent to $10.34. Susquehanna upgraded Finish Line from Neutral to Positive and raised the price target from $9.00
to $12.00.
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Equities Trading DOWN
Applied Genetic Technologies Corp (NASDAQ: AGTC)
shares dropped 16 percent to $4.15 after the company reported weaker-than-expected Q4 results.
Shares of A-Mark Precious Metals Inc (NASDAQ: AMRK) were down 6 percent to $17.56 as the company reported weaker-than-expected
results for its fourth quarter on Tuesday.
Radiant Logistics Inc (NYSE: RLGT) was down, falling
around 8 percent to $5.01. Radiant Logistics posted stronger-than-expected results for its fourth quarter.
Commodities
In commodity news, oil traded up 1.02 percent to $48.72 while gold traded up 0.35 percent to $1,337.40.
Silver traded up 0.61 percent Wednesday to $18.00, while copper fell 1.80 percent to $2.9815.
Eurozone
European shares were mostly higher today. The eurozone’s STOXX 600 declined 0.14 percent, the Spanish Ibex Index rose 0.27
percent, while Italy’s FTSE MIB Index gained 0.19 percent. Meanwhile the German DAX climbed 0.13 percent, and the French CAC 40
rose 0.10 percent while U.K. shares fell 0.28 percent.
Economics
The MBA's index of mortgage application activity rose 9.9 percent for the latest week.
The Producer Price Index gained 0.2 percent for August, versus economists’ expectations for a 0.3 percent growth.
The Energy Information Administration’s weekly report on petroleum inventories is schedule for release at 10:30 a.m. ET.
The Treasury is set to auction 30-year bonds at 1:00 p.m. ET.
The U.S. Treasury budget report for August will be released at 2:00 p.m. ET.
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