The U.S. market remained volatile during the afternoon session Friday after suffering heavy losses a day before, as investors kept a close watch on European stock and government bond markets ahead of data on leading economic indicators.
The Dow Jones industrial average rose 0.39 percent or 45.63 points to trade at 11,816.67. The Nasdaq Stock Market Inc. composite index slipped 0.07 percent or 2.01 points to trade at 2,586.15. The Standard & Poor's 500 index was down 0.25 percent or 3.11 points to trade at 1,219.24. Among other major indices, the New York Stock Exchange composite index gained 0.41 percent or 30.16 points to trade at 7,304.31. The American Stock Exchange composite index was up 0.53 percent or 11.76 points to trade at 2,248.32.
Hot Stocks of the Day: HNZ, BA, HIBB, EK
HJ Heinz Co. (NYSE: HNZ) reported net income of $237 million, or $0.73 per share in its fiscal 2012 second quarter, versus $251 million, or $0.78 per share last year. Analysts had forecasted EPS of $0.80 for the company. Sales in the quarter ended October 26, 2011 grew to $2.83 billion. Shares were down 2.03 percent, or $1.07, to trade at $51.75.
Boeing Co. (NYSE: BA) announced that Indonesia's Lion Air has committed to a deal for 230 airplanes at a list price of $21.7 billion. It's the largest commercial-airplane order ever in Boeing's history by both dollar volume and total number of airplanes. Shares of BA gained 0.44 percent, or $0.29, to trade at $66.38.
Hibbett Sports Inc. (Nasdaq: HIBB) reported 27 percent increase in its FY 2011 Q3 net income to $16 million, or $0.59 a share, from $12.6 million, or $0.44, in the year-earlier quarter.?Sales rose to $185.2 million from $167.4 million. Analysts had! estimat ed a net profit of $0.51 a share of profit on $180 million of sales. Shares gained 3.18 percent, or $1.37, to trade at $44.51.
Eastman Kodak Co. (NYSE: EK) plans to sell its online photo-sharing business. It has approached photo-sharing websites, competitors, private-equity firms and retailers about buying the unit, which enables users to store their digital photos and print them out into scrapbooks, cards and calendars for a fee.
Shares were down 1.68 percent, or $0.02, to trade at $1.17.Currencies and Commodities:
In the world of currency, the US dollar lost 0.38 percent against the Japanese yen, 0.40 percent against the British pound, and 0.81 percent against the euro.
Commodities traded in a positive note today with oil adding 0.65 percent to trade at $99.46 per barrel. Gold prices were up 0.94 percent to trade at $1,736 per ounce. Among major indices, the DJ-UBS Commodity rose 0.344 percent, and the Reuters-Jeffries CRB gained 0.38 percent.
Global Market:
The European markets traded in negative note today European Central Bank chief Mario Draghi called upon Europen policymakers to act fast to get resolve the bloc's debt crisis. Great Britain's FTSE 100 lost 0.76 percent or 41.14 points to 5,382. Germany's DAX was down by 0.02 percent, or 1.09 points to 5,849.08, and France's CAC40 lost 0.16 percent or 4.87 points to 3,005.42.
In the Asian market, China's Shanghai Composite closed lower by 1.89 percent, or 46.48 points to 2,416.56. Hong Kong's Hang Seng fell 1.73 percent or 326.24 points to 18,491.23. Japan's Nikkei 225 was down 1.23 percent or 104.72 points to close trading at 8,374.91. India's BSE 30 Sensex lost 0.55 percent, or 90.20 points to close at 16,371.51! .
Sector Scan:
The basic materials sector emerged as the market's best performing sector by the afternoon session after adding 0.94 percent during the session. Among major movers in the sector, Ultrashort Basic Materials ETF (NYSEArca: SMN) rose 6.57 percent or $1.23 to trade at $19.94. Dow Jones U.S. Basic Materials ETF (NYSEArca: IYM) was down 3.27 percent or $2.17 to trade at $64.23. Among major stocks, shares of Mosaic Co. (NYSE: MOS) rose 2.70 percent or $1.37 to trade at $52.13. Shares of CF Industries Holdings, Inc. (NYSE: CF) gained 4.43 percent or $6.56 to trade at $154.75. Shares of Stillwater Mining Co. (NYSE: SWC) were up 0.09 percent or $0.01 to trade at $10.58.
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