Toward the end of trading Friday, the Dow traded down 0.41 percent to 24,171.82 while the NASDAQ declined 0.70 percent to
6,825.61. The S&P also fell, dropping 0.49 percent to 2,634.70.
Leading and Lagging Sectors
Friday afternoon, the energy sector proved to be a source of strength for the market. Leading the sector was strength from
CGG SA (ADR) (NYSE: CGG) and Geospace Technologies
Corporation (NASDAQ: GEOS).
In trading on Friday, industrial shares fell 1.12 percent.
Top Headline
Big Lots, Inc. (NYSE: BIG) reported
better-than-expected earnings for its third quarter, and raised its FY17 guidance.
Big Lots posted quarterly earnings of $0.06 per share on revenue of $1.111 billion. However, analysts were expecting earnings of
$0.04 per share on revenue of $1.12 billion. Its comparable store sales rose 1 percent during the quarter.
Equities Trading UP
American Woodmark Corporation (NASDAQ: AMWD)
shares shot up 29 percent to $128.15. American Woodmark reported purchase of RSI Home Products for $1.075 billion in enterprise
value and posted upbeat quarterly earnings.
Shares of Ambarella Inc (NASDAQ: AMBA) got a
boost, shooting up 16 percent to $62.78 after the company reported stronger-than-expected results for its third quarter.
Nutanix Inc (NASDAQ: NTNX) shares were also up,
gaining 11 percent to $36.32 after reporting a first quarter loss of 16 cents, 10 cents lower than analyst estimates. Sales came in
$9 million higher than estimates at $275.6 million. The company issued better than expected second quarter earnings and sales
guidance.
Equities Trading DOWN
Genesco Inc. (NYSE: GCO) shares dropped 19 percent to
$25.30 as the company reported downbeat quarterly earnings.
Shares of MER Telemanagement Solutions Ltd. (NASDAQ: MTSL) were down 9 percent to $2.18 after the company posted Q3 results.
Zumiez Inc. (NASDAQ: ZUMZ) was down, falling
around 10 percent to $19.78. Zumiez reported in-line earnings for its third quarter on Thursday.
Commodities
In commodity news, oil traded up 1.71 percent to $58.38 while gold traded up 0.56 percent to $1,283.80.
Silver traded down 0.36 percent Friday to $16.415, while copper rose 1.04 percent to $3.096.
Eurozone
European shares closed lower today. The eurozone’s STOXX 600 dropped 0.70 percent, the Spanish Ibex Index fell 1.23 percent,
while Italy’s FTSE MIB Index dropped 1.17 percent. Meanwhile the German DAX slipped 1.25 percent, and the French CAC 40 dropped
1.04 percent while U.K. shares fell 0.36 percent.
Economics
The Markit manufacturing PMI rose to 53.90 in November, versus previous reading of 52.80. Economists expected a reading of
53.80.
The ISM manufacturing index slipped to 58.20 for November, versus prior reading of 58.70. Economists expected a reading of
58.40.
U.S. construction spending rose 1.4 percent for October, versus economists’ expectations for a 0.50 percent gain.
The total number of active U.S. oil rigs rose by 2 to 749 rigs this week, Baker Hughes Inc reported.
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