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. AKAM 5.61%, up 6 percent, and Overstock.com, Inc. OSTK 4.02%, up 5 percent.
The Coca-Cola Co KO 0.29% 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 BONT 51.44% 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. APOP 26.26% 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 QTNT 16.81% 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 ACHC 24.64% 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 TRVG 19.33% were down 18 percent to $8.78 after the company reported quarterly results.
Chipotle Mexican Grill, Inc. CMG 14.07% was down, falling around 13 percent to $281.26 after the company reported weaker-than-expected results for its third quarter on Tuesday.
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.
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.
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.