Following the market opening Wednesday, the Dow traded down 0.07 percent to 23,426.39 while the NASDAQ declined 0.17 percent to
6,587.28. The S&P also fell, dropping 0.23 percent to 2,563.25.
Leading and Lagging Sectors
Wednesday morning, the technology shares surged 0.08 percent. Meanwhile, top gainers in the sector included Akamai
Technologies, Inc. (NASDAQ: AKAM), up 6 percent, and
Overstock.com, Inc. (NASDAQ: OSTK), up 5 percent.
In trading on Wednesday, utilities shares fell 1.26 percent. Meanwhile, top losers in the sector included SCANA
Corporation (NYSE: SCG), down 4 percent, and DTE Energy
Co (NYSE: DTE) down 3 percent.
Top Headline
The Coca-Cola Co (NYSE: KO) reported upbeat earnings
for its third quarter.
Coca-Cola posted quarterly adjusted earnings of $0.50 per share on revenue of $9.08 billion. However, analysts expected earnings
of $0.49 per share on revenue of $8.72 billion.
Equities Trading UP
Bon-Ton Stores Inc (NASDAQ: BONT) shares shot up
47 percent to $0.898. Bon-Ton reported amendment to its $880 million ABL Tranche A and Tranche A-1 credit facility.
Shares of Cellect Biotechnology Ltd. (NASDAQ: APOP) got a boost, shooting up 17 percent to $9.35 after the company reported a
major breakthrough of its ApoGraft technology. The company disclosed positive results from a 20 patients trial with Tel-Aviv
Ichilov Medical Center.
Quotient Ltd (NASDAQ: QTNT) shares were also up,
gaining 14 percent to $5.30 after the company reported 'positive' concordance data from the MosaiQ verification and validation
studies for blood grouping. The company also reported a $40 million private placement at $4.64 per share and the issue of warrants
worth up to $49 million.
Equities Trading DOWN
Acadia Healthcare Company Inc (NASDAQ: ACHC)
shares dropped 24 percent to $33.43 after the company reported downbeat earnings for its third quarter and issued a weak FY17
forecast.
Shares of Trivago NV - ADR (NASDAQ: TRVG) were
down 18 percent to $8.78 after the company reported quarterly results.
Chipotle Mexican Grill, Inc. (NYSE: CMG) was down,
falling around 13 percent to $281.26 after the company reported weaker-than-expected results for its third quarter on Tuesday.
Commodities
In commodity news, oil traded down 0.36 percent to $52.28 while gold traded down 0.31 percent to $1,274.30.
Silver traded down 0.51 percent Wednesday to $16.88, while copper fell 0.58 percent to $3.1795.
Eurozone
European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.15 percent, the Spanish Ibex Index rose 0.39
percent, while Italy’s FTSE MIB Index slipped 0.02 percent. Meanwhile the German DAX slipped 0.01 percent, and the French CAC 40
climbed 0.23 percent while U.K. shares fell 0.43 percent.
Economics
U.S. durable goods orders rose 2.2 percent for September, versus economists’ expectations for a 1 percent growth.
New home sales rose 18.9 percent at an annual rate of 667,000 for September. However, economists were expecting a 550,000
rate.
The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is schedule for release at 10:30 a.m.
ET.
The Treasury will auction 5-year notes at 1:00 p.m. ET.
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