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Family Dollar Stores FDO reported a drop in its first quarter profit.
Family Dollar expects Q2 earnings range of $0.85 to $0.95 per share, versus analysts' estimates of $1.21 per share. It also lowered its FY14 earnings outlook to $3.25 to $3.55 per share versus its earlier forecast of $3.80 to $4.15 per share.
Equities Trading UPShares of Intercept Pharmaceuticals ICPT got a boost, shooting up 282.85 percent to $276.21 after the company reported that the FLINT trial of obeticholic acid has been stopped early and the NASH primary endpoint has been met.
United Continental Holdings UAL was up as well, gaining 7.34 percent to $44.03 after the company reported that it expected a fourth quarter PRASM growth of between 2.8 and 3.8 percent after the close Wednesday.
Macy's M was also up, gaining 7.92 percent to $55.95 after the company announced its plans to lower 2,500 jobs and shut five Macy's stores. It also reported a 3.6% rise in its comparable sales in November and December. The retailer also issued upbeat outlook for 2014. BMO Capital upgraded the stock from Market Perform to Outperform and lifted the target price from $53 to $70.Equities Trading DOWN
Shares of Pier 1 Imports PIR were down 11.84 percent to $20.56 after the company reported weak December sales and lowered its outlook.
AK Steel AKS was down as well, falling 6.12 percent to $7.44 after headlines crossed that Chinese steel output had declined, possibility hinting at a drop in demand.
CommoditiesIn commodity news, oil traded down 0.25 percent to $92.10, while gold traded up 0.21 percent to $1,228.80.
Silver traded up 0.27percent Thursday to $19.59, while copper fell 1.38 percent to $3.29.
EurozoneEuropean shares were mostly lower today. The Spanish Ibex Index fell 0.39 percent, while Italy's FTSE MIB Index surged 0.20 percent. Meanwhile, the German DAX tumbled 0.85 percent and the French CAC 40 fell 0.86 percent while U.K. shares dropped 0.55 percent.
Economics
U.S. initial jobless claims declined by 15,000 to 330,000 in the week ended January 4. However, economists were expecting claims to total 335,000 in the week.
Supplies of natural gas dropped 157 billion cubic feet for the week ended January 3, the U.S. Energy Information Administration reported. However, analysts were expecting a decline of 148 billion cubic feet to 152 billion cubic feet.
Data on money supply will be released at 4:30 p.m. ET.© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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