Following the market opening Wednesday, the Dow traded down 0.20 percent to 24,049.80 while the NASDAQ climbed 0.28 percent to 7,150.41. The S&P also fell, dropping 0.15 percent to 2,650.78.
Leading and Lagging Sectors;
Wednesday morning, the information technology shares rose 0.63 percent. Meanwhile, top gainers in the sector included Nanometrics Incorporated NANO 26.71%, up 26 percent, andMACOM Technology Solutions Holdings, Inc. MTSI 21.63% up 23 percent.
In trading on Wednesday, consumer staples shares tumbled 1.06 percent.
Apple Inc AAPL 4.41% reported better-than-expected earnings for its second-quarter earnings.
The world’s largest company, the tech giant delivered second-quarter earnings of $2.73, beating estimates by 3 cents. Sales came in at $61.1 billion, slightly above estimates.
Apple also announced a new $100 billion buyback plan and raised its quarterly dividend by 16 percent from 63 cents per share to 73 cents per share. Apple issued third-quarter sales guidance of $51.5 billion-$53.3 billion, against a $52 billion estimate.
Equities Trading UP;
HC2 Holdings, Inc. HCHC 35.98% shares shot up 35 percent to $7.00 after the company disclosed that BeneVir Biopharm agreed to be purchased by J&J’s Janssen Biotech for up to $1.04 billion.
Shares of MACOM Technology Solutions Holdings, Inc. MTSI 21.63% got a boost, shooting up 22 percent to $21.41 after reporting upbeat quarterly results.
Nanometrics Incorporated NANO 26.71% shares were also up, gaining 26 percent to $33.139 after reporting better-than-expected Q1 earnings.
Equities Trading DOWN;
Command Security Corporation MOC 21.99% shares dropped 22 percent to $2.24 after the company reported a loss of a significant contract.
Shares of Esperion Therapeutics, Inc. ESPR 22.1% were down 22 percent to $55.05 after reporting a wider-than-expected Q1 loss. Esperion disclosed that top-line results from pivotal Phase 3 long-term safety study of bempedoic acid met primary endpoint.
Heat Biologics, Inc. HTBX 25.66% was down, falling around 25 percent to $3.11. The nano-cap biotechnology saw its stock soar 87 percent throughout Monday’s session and was higher by more than 120 percent at one point. There was no company specific news to support the volatility, but the movement could be attributed to recent trader interest in “low float stocks.” In Heat Biologics case, there are approximately 5.6 million shares outstanding.
In commodity news, oil traded down 0.07 percent to $67.20 while gold traded down 0.11 percent to $1,305.40.
Silver traded up 1.51 percent Wednesday to $16.37, while copper rose 0.89 percent to $3.0645.
European shares were higher today. The eurozone’s STOXX 600 rose 0.56 percent, the Spanish Ibex Index rose 0.98 percent, while Italy’s FTSE MIB Index rose 1.01 percent. Meanwhile the German DAX rose 1.39 percent, and the French CAC 40 climbed 0.14 percent while U.K. shares rose 0.38 percent.
Private-sector employers added 204,000 jobs in April, Automatic Data Processing Inc. reported. Economists expected a gain of 190,000 jobs.
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 Federal Open Market Committee will announce its policy decision at 2:00 p.m. ET.