Following the market opening Wednesday, the Dow traded up 0.04 percent to 25,016.93 while the NASDAQ climbed 0.26 percent to 7,530.82. The S&P also rose, gaining 0.16 percent to 2,769.68.
Leading and Lagging Sectors
Wednesday morning, the utilities shares gained 0.75 percent. Meanwhile, top gainers in the sector included Edison International EIX 3.27%, up 3 percent, and Vectren Corp VVC 3.33%, up 3 percent. In trading on Wednesday, industrial shares rose by just 0.05 percent. Meanwhile, top losers in the sector included PRGX Global Inc PRGX 3.74%, down 4 percent, and Spirit AeroSystems Holdings, Inc.SPR 4.37% down 3 percent.
Express, Inc. EXPR 2.17% reported better-than-expected results for its fourth quarter.
Express posted adjusted earnings of $0.34 per share on revenue of $693.8 million. However, analysts were expecting earnings of $0.32 per share on revenue of $686 million.
Express expects Q1 EPS of $(0.04)-$0.00, and FY18 EPS of $0.32-$0.46.
Equities Trading UP
Arcadia Biosciences Inc RKDA 275.92% shares shot up 107 percent to $24.15 after the company disclosed that it has achieved key resistant starch wheat technology milestones.
Shares of RF Industries, Ltd. RFIL 42.03% got a boost, shooting up 46 percent to $5.05 following first-quarter results. Earnings came in at 5 cents per share in the quarter up from a loss of 2 cents in the same quarter of last year. Revenues came in at $10.3 million, beating estimates by $3.7 million.
Daxor Corporation DXR 42.05% shares were also up, gaining 45 percent to $7.24 after report of data showing patient care individualized by Daxor's precision blood volume analysis reduced heart failure readmissions by 56% and mortality by 80%.
Equities Trading DOWN
Auris Medical Holding AG EARS 509.09% shares dropped 93 percent to $1.65 after the clinical-stage biopharmaceutical company that focuses on therapies for the treatment of inner ear disorders announced an update to a clinical trial and a reverse stock split. The company said preliminary data from its TACTT3 trial of its Keyzilen therapy for the treatment of acute inner ear tinnitus failed to meet its primary efficacy endpoint of a statistically significant improvement in the Tinnitus Functional Score from baseline. Also, after hosting an extraordinary general meeting of shareholders Tuesday, a reverse split of the stock of 1 new share for 10 old shares was authorized and become effective as of March 13.
Shares of Intellia Therapeutics Inc NTLA 13.2% were down 12 percent to $29.26. Intellia Therapeutics reported a Q4 loss of $0.61 per share on sales of $6.668 million.
Signet Jewelers Ltd. SIG 16.7% was down, falling around 15 percent to $40.81. Signet reported upbeat earnings for its fourth quarter, but issued weak earnings forecast for FY19.
In commodity news, oil traded up 0.66 percent to $61.11 while gold traded down 0.03 percent to $1,326.70.
Silver traded down 0.07 percent Wednesday to $16.615, while copper rose 1.64 percent to $3.1895.
European shares were higher today. The eurozone’s STOXX 600 rose 0.38 percent, the Spanish Ibex Index gained 0.27 percent, while Italy’s FTSE MIB Index climbed 0.04 percent. Meanwhile the German DAX climbed 0.54 percent, and the French CAC 40 rose 0.33 percent while U.K. shares rose 0.27 percent.
The Producer Price Index rose 0.2 percent for February, beating analysts’ expectations for a 0.1 percent gain.
U.S. retail sales fell 0.1 percent for February, versus economists’ expectations for a 0.3 percent growth.
Data on business inventories rose 0.6 percent for January, versus economists’ expectations for a 0.6 percent gain.
The Energy Information Administration’s weekly report on petroleum inventories is schedule for release at 10:30 a.m. ET.
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