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From Briefing.com: Weekly Recap - Week ending 09-May-14Dow +32.37 at 16583.34, Nasdaq +20.37 at 4071.86, S&P +2.85 at 1878.48

The stock market finished a choppy week on cautiously optimistic note. The S&P 500 added 0.2% despite spending the bulk of the session in the red. The benchmark index narrowed its week-to-date loss to 0.1%, while the Russell 2000 (+0.9%) trimmed its weekly decline to 1.8%. For its part, the Dow Jones Industrial Average (+0.2%) managed to eke out a slim gain of 0.4% for the week, finishing at a new closing record high at 16,583.34.

Generally speaking, small caps faced the brunt of the selling that took place this week, while some of the money rotated into blue chip listings, allowing indices like the Dow and S&P 500 to stay ahead of their counterparts. Today's session proved to be a bit of a departure from that trend as small caps rebounded, while blue chips struggled to keep pace with their high-beta counterparts.

The S&P 500 spent the first three hours of action stringing together a rebound from its early low. At first, the index was pressured by the four top-weighted sectors, but those groups later separated, leaving the financial sector (-0.1%) among the laggards, while consumer discretionary (+0.6%), health care (+0.6%), and technology (+0.2%) fueled the market-wide bounce.

In particular, the biotech industry was volatile as the iShares Nasdaq Biotechnology ETF (IBB 226.44, +3.09) bounced between its 20- (226.18) and 200-day moving averages (223.16), but ultimately settled closer to its 20-day average with a gain of 1.4%.

Elsewhere, gains in high-beta technology and discretionary components like Facebook (FB 57.24, +0.48), Netflix (NFLX 328.55, +6.89), LinkedIn (LNKD 148.69, +3.62), and Priceline.com (PCLN 1135.91, +27.91) gave a boost to the overall risk sentiment. However, there were still some soft spots among the recent high flyers as Rocket Fuel (FUEL 21.83, -5.98) rocketed lower by 21.5% after its cautious guidance and revenue miss overshadowed its earnings beat.

Unlike momentum names, heavily-weighted tech components were relatively weak. That underperformance was evidenced by the largest member of the tech sector-Apple (AAPL 585.54, -2.45)-which fell 0.4% amid reports the company will acquire Beats Electronics for about $3 billion. In addition, the stock was downgraded to 'Buy' from 'Strong Buy' at ISI Group.

On the downside, this year's leading sector-utilities (-1.4%)-spent the session in a steady retreat that trimmed its year-to-date gain to 10.9%. Meanwhile, the second-best sector of the year-energy (-0.2%)-was the second-weakest performer today, narrowing its 2014 advance to 5.2%.

Treasuries surrendered their overnight gains ahead of the open and spent the remainder of the session anchored to their flat lines. The 10-yr yield ended at 2.62%.

Today's participation was below average as less than 640 million shares changed hands at the NYSE.

Economic data was limited to the Wholesale Inventories report for March and the March Jobs Openings and Labor Turnover Survey:

Wholesale inventories increased 1.1% in March after increasing an upwardly revised 0.7% (from 0.5%) in February, while the Briefing.com consensus expected an increase of 1.0%. The BEA assumed that wholesale inventories increased 1.1% in March in the advance estimate of first quarter GDP. The upward revision to February, however, was not built into its model and will result in a positive contribution toward growth in the second estimate.
The Job Openings and Labor Turnover Survey for March indicated job openings decreased to 4.014 million from 4.173 million.

On Monday, the Treasury Budget for April will be released at 14:00 ET. Also of note, Ukraine's regions of Donetsk and Lugansk remain scheduled for independence referendums on Sunday.

Week in Review: Small Caps Lag

The stock market kicked off the trading week on a sleepy note as the major averages spent the bulk of the Monday session near their flat lines. However, a final push during the last hour of action placed the key indices at new highs into the close. The S&P 500 added 0.2%, while the Russell 2000 (-0.1%) lagged throughout the day. Equities began the session on their lows as renewed global growth concerns, combined with continued worries about Ukraine, conspired to ensure a cautious start. In China, the HSBC Manufacturing PMI fell to 48.1 from 48.3 (expected 48.4), signifying a slowdown in manufacturing activities. Elsewhere, the European Commission warned about slower-than-expected growth by lowering its 2014 inflation forecast to 0.8%. The commission also trimmed next year's inflation forecast to 1.2%, while lowering its 2015 GDP forecast to 1.7% from 1.8%.

Equity indices finished the Tuesday session on their lows after spending the entire day in negative territory. The S&P 500 tumbled 0.9% with nine sectors registering losses, while the Russell 2000 fell 1.6%, settling below its 200-day moving average for the first time since November 2012. Stocks were pressured from the get-go as index futures slid to their pre-market lows ahead of the opening bell. While the early slide was not brought on by a particular news item, it served as a reflection of the defensive sentiment in the foreign exchange market where the yen rallied to its best level in three weeks. The dollar/yen pair notched a session low in the 101.50 area, before inching up to 101.65 into the close. Once the session got going, dip-buyers tried to force a turnaround, but were unable to do so as some of the top-weighted sectors kept the pressure on the broader market. Most notably, the financial sector (-1.4%) underperformed for the second consecutive day. Influential components like Bank of America, Citigroup, and JPMorgan Chase lost between 1.6% and 2.3%, while AIG plunged 4.1% after reporting a bottom-line beat on revenue that missed estimates.

Stock indices finished the Wednesday session on a mixed note as high-growth names weighed on the Russell 2000 (+0.1%) and the Nasdaq (-0.3%), while the Dow Jones Industrial Average (+0.7%) and S&P 500 (+0.6%) outperformed thanks to strength in blue chip listings. The stock market opened the trading day with modest gains amid headlines indicating Russia's President Vladimir Putin has reached out to OSCE chief and Swiss President Didier Burkhalter, attempting to de-escalate the Ukraine crisis through diplomatic avenues. Initially, the reports boosted overall risk appetite, sending Treasuries and the yen to lows, but those moves were retraced not long after. The yen returned into the middle of its trading range, while Treasuries reclaimed their losses and spent the afternoon near their flat lines. The benchmark 10-yr yield ended unchanged at 2.59%. Stock indices, meanwhile, surrendered their opening gains during the first hour of action, but only the Nasdaq Composite spent the remainder of the session in the red, while the Dow and S&P 500 rebounded swiftly.

The stock market ended the Thursday session on a defensive note despite showing early strength. The S&P 500 lost 0.1%, while the tech-heavy Nasdaq (-0.4%) fell nearly 60 points from its session high. Also of note, the Russell 2000 (-1.0%) settled below its 200-day moving average after failing to retake that level during the session. Today's affair proved to be a bit of a rollercoaster ride as equities grinded higher in the morning, but rolled to fresh lows during the afternoon before climbing off those lows into the close. Fittingly, the areas that fueled the early advance (biotechnology and high-growth names) were the same spots that paced the afternoon slide.

 
 Index	   Started Week	  Ended Week  Change	% Change   YTD % 
 DJIA	     16512.89	  16583.34    70.45        0.4	   0.0 
 Nasdaq	      4123.90	   4071.87   -52.03	  -1.3	  -2.5 
 S&P 500	1881.14	   1878.48    -2.66	  -0.1     1.6 
 Russell 2000  1128.80	   1107.22   -21.58	  -1.9	  -4.8

5:25PM This week's biggest % gainers/losers (SCANX) : The following are this week's top 20 percentage gainers and top 20 percentage losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

This week's top 20 % gainers

Technology: EA (35.12 +23.23%), MITL (10.83 +18.75%), GSAT (3.17 +12.01%), CBB (3.76 +11.9%)
Services: STRA (53.7 +23.68%), ODP (5.24 +23.29%), ATSG (9.35 +16.58%), ZUMZ (28.28 +14.73%)
Industrial Goods: PPO (39.92 +14.42%)
Healthcare: CHTP (6.57 +28.07%), RMTI (11.45 +14.04%), NLNK (23.91 +13.1%)
Financial: GCA (8.03 +21.85%), MIG (6.43 +18.63%), WAC (29.34 +14.48%), IBN (48.5 +13.56%)
Consumer Goods: NLS (11.12 +33.17%), GMCR (108.47 +19.71%)
Basic Materials: EMES (86.41 +15.14%), JONE (16.99 +14.41%)
This week's top 20 % losersTechnology: FEYE (26.44 -33.8%), EXTR (3.68 -33.45%), SSNI (10.97 -28.63%), TWOU (10.93 -28%), CSLT (11.54 -24.43%), HIMX (6.68 -23.92%), ININ (48.3 -23.41%), UBNT (31.38 -23.28%)
Services: MM (3.38 -44.59%), CECO (4.66 -35.9%), ZU (30.42 -35.76%), FUEL (21.83 -32.54%), LQDT (12.24 -29.17%), SGMS (8.97 -26.21%)
Healthcare: VNDA (10.17 -29.91%), AEGR (32.62 -25.01%), DEPO (10.57 -24.18%), DNDN (1.94 -22.4%)
Financial: GCAP (7.98 -23.42%)
Basic Materials: MCP (3.05 -35.92%)
12:30PM Notable movers of interest (SCANX) : The following are some of today's most notable movers of interest, categorized by market capitalization (large cap over $10 billion and mid cap between $2-10 billion) and ranked by % change (all stocks over 100K average daily volume).

Large Cap Gainers

GPS (40.8 +3.98%): Reported April same store sales rose 9% vs -0.5% Retail Metric consensus; sees Q1 EPS of $0.56-0.57 vs $0.54 estimate, revs of $3.77 bln vs $3.69 bln estimate
SYMC (20.86 +3.63%): Beat quarterly EPS by $0.05 ($0.47 vs $0.42 estimate), revs fell 5.6% yoy to $1.65 bln vs $1.64 bln estimate; sees Q1 EPS of $0.41-0.43 vs $0.43 estimate, revs of $1.65-1.69 bln vs $1.64 bln estimate; sees FY15 EPS of $1.84-1.92 vs $1.83 estimate, revs of $6.63-6.77 bln vs $6.66 bln estimate
BAP (156 +4.78%): Reported Q1 EPS of PEN 0.13 vs PEN 0.10 in prior year, rev rose 21% yoy to PEN 1.29 bln
Large Cap Losers
ALU (3.82 -4.98%): Beat quarterly EPS by EUR 0.01 (loss of EUR 0.03 per share vs estimate for loss of EUR 0.04 per share), revs fell 8.2% yoy to EUR 2.96 bln vs EUR 3.16 bln estimate; hearing downgraded to Hold from Buy at Craig Hallum
MT (15.67 -4.18%): Reported Q1 EPS of -$0.12, revs rose 0.2% yoy to $19.79 bln vs $20.01 bln estimate
CBS (56.14 -3.22%): Beat quarterly EPS by $0.04 ($0.79 ex items vs $0.75 estimate), revs fell 4.6% yoy to $3.86 bln vs $3.93 bln estimate
Mid Cap Gainers
CSC (63.9 +10.10%): Reported Q4 EPS of $1.04 (in-line), revs fell 5.0% yoy to $3.33 bln vs $3.36 bln estimate; target raised to $68 from $60 at Stifel
MDVN (64.73 +7.88%): Missed quarterly EPS by $0.07 (-$0.18 vs -$0.11 estimate), revs rose 88.9% yoy to $87.19 mln vs $96.18 mln estimate; Q1 sales of XTANDI were $124.5 mln vs $75.4 mln in prior year; sees FY14 XTANDI revs of $540-575 mln
JCOM (46.7 +6.94%): Beat quarterly EPS by $0.03 ($0.76 ex items vs $0.73 estimate), revs rose 18.0% yoy to $134.1 mln vs $132.7 mln estimate; reaffirmed FY14 EPS of $3.23-3.47 ex items vs $3.35 estimate, revs of $580-600 mln vs $587.2 mln estimate
Mid Cap Losers
UBNT (31.98 -22.71%): Beat quarterly EPS by $0.01 ($0.50 vs $0.49 estimate), revs rose 78.2% yoy to $148.3 mln vs $142.09 mln estimate; sees Q4 EPS of $0.48-0.52 vs $0.50 estimate, revs of $147-153 mln vs $148.02 mln estimate; downgraded to Neutral from Outperform at Wedbush
AIRM (47.54 -10.50%): Missed quarterly EPS by $0.05 ($0.28 vs $0.33 estimate), revs rose 24.5% yoy to $223.1 mln vs $223.2 mln estimate
POST (47.64 -8.53%): Reported Q2 adjusted loss of $0.021 per share vs $0.19 estimate, revs rose 76.5% yoy to $438 mln vs $446.52 mln estimate
11:41AM Stocks/ETFs that traded to new 52 week highs/lows this session - New lows (190) outpacing new highs (39) (SCANX) : Stocks that traded to 52 week highs: AIRI, AL, ALLY, ASBB, BAM, BAP, BLL, BPO, BXP, CBSO, CDW, CLDT, CPE, CSC, CXP, EA, EMES, EQR, ESRT, ESS, ETR, GIS, GSAT, HDB, MOH, NGG, NLS, NVS, ORM, PBA, RDNT, SGU, SQBG, TAP, TOO, TPL, TWIN, UDR, VNO

Stocks that traded to 52 week lows: ACAT, ACFN, ACST, ACTS, AEPI, AGI, AHPI, AHS, AMBR, AMBT, AMSC, AMWD, AMZG, ASCMA, AVEO, AVNW, AXR, BAGR, BANC, BAXS, BBSI, BLFS, BRDR, BTH, BTX, BV, CBMX, CCCR, CCNE, CDE, CERE, CGA, CGG, CHCI, CLDX, COCO, COH, CORI, CPIX, CRCM, CRIS, CRMB, CRNT, CRTO, CSLT, CUTR, CVT, CYTK, DARA, DDC, DMD, DNDN, DVR, EBIO, ECYT, EDMC, EGRX, EGT, ELRC, END, ENTR, ESIO, EVDY, FCSC, FDUS, FEYE, FIO, FIVN, FSGI, FSI, FUEL, FXCM, GBDC, GENE, GORO, GWRE, HELI, HIVE, HMST, HTBX, HTCH, HWKN, IDI, IDSY, IIVI, IKAN, IMI, IMN, IMPV, ININ, ISRG, ISSC, JMBA, JOEZ, KANG, KBIO, KEYW, KOPN, LAND, LEI, LEJU, LIME, LIQD, LODE, LOV, LUB, MBII, MBIS, MCP, MEIP, MFLX, MGNX, MIXT, MLNX, MOSY, N, NAK, NBS, NDLS, NDRO, NEON, NEWS, NGPC, NL, NMBL, NPK, NPTN, NRX, OGXI, ONCY, ONTX, OVAS, OVRL, PBPB, PGNX, PIKE, PINC, PMFG, PRO, QLIK, QTWO, RAX, RGDX, RGLS, RKUS, RL, RLOC, RNF, RSO, RST, RUBI, SFLY, SGI, SGYP, SIGM, SLRC, SMLR, SMSI, SNOW, SOQ, SPAR, SQI, SSN, SUSQ, TCRD, TEAR, TGE, THLD, TIBX, TLOG, TNGO, TRVN, TSRO, TUMI, TWER, TWOU, TXTR, UNXL, VGGL, VIDE, VJET, VLGEA, VRNS, VTUS, WLT, WTSL, XNPT, XON, ZIXI, ZLCS

ETFs that traded to 52 week highs: FAN

ETFs that traded to 52 week lows: none


7:00AM JinkoSolar Holding to provide 35 MW to Clenera for the Arizona Avalon Solar Project (JKS) 25.54 : Co announced that it will supply 35 MW of solar PV modules to Clenera, a clean energy finance and management firm, for the construction of the Avalon Solar Project. According to terms of the agreement, groundbreaking is expected to begin during the second quarter of 2014, with an anticipated completion date during the fourth quarter of 2014. Swinerton Renewable Energy will provide engineering, procurement, and construction services for the project.

GrubHub (GRUB) reported first quarter earnings of $0.06 per share, which is higher than expected. while revenues rose 48.7% year/year to $58.6 million which is higher than expected. Active Diners grew 49% to 3.85 million, compared to 2.58 million diners in the first quarter of 2013. GrubHub Inc. processed 181,200 Daily Average Grubs, a 40% year-over-year increase from 129,100 Daily Average Grubs in the first quarter of 2013. GrubHub Inc. processed $433 million in gross food sales, a 44% year-over-year increase from $300 million processed in the first quarter of 2013. The company issued guidance for the second quarter with revenues of $53-55 million which is higher than expected; adjusted EBITDA in the range of $13-15 million.MercadoLibre (MELI) reported first quarter earnings of $0.69 per share, which is higher than expected, while revenues rose 12.4% year/year to $115.4 million which is higher than expected. Gross profit margin was 72.7% up from 72.1% the first quarter of 2013, as scale in customer support operations and lower withdrawal costs in MercadoPago Argentina offset higher payment processing fees due to strong TPV growth.Symantec (SYMC) reported fourth quarter earnings of $0.47 per share, which is higher than expected, while revenues fell 5.6% year/year to $1.65 billion which is line with estimates. Operating Margin: Non-GAAP operating margin was 27.3 percent, up 320 basis points and up 250 basis points after adjusting for currency.Cash Flow: Cash flow from operating activities was $449 million, down 27 percent year-over-year. Guidance: The company issued guidance for the first quarter with EPS of $0.41-$0.43 which is line with estimates and revenues of $1.65-$1.69 billion which his higher than expected. Sees Non-GAAP operating margin of 24.1 to 24.5%, compared to 25.3% in the year-ago period. The company issued guidance for fiscal year 2015 with EPS of $1.84-$1.92 which is line with estimates and revenues of $6.63-$6.77 billion which is line with estimates. Non-GAAP operating margin of 24.1 to 24.5%, compared to 25.3% in the year-ago period.
Rocket Fuel (FUEL) reported first quarter loss of $0.18 per share, which is higher than expected, while revenues rose 94.8% year/year to $74.4 million which is lower than expected. Other Metrics: Adjusted EBITDA was $(3.7) million compared to $(4.6) million in the first quarter of 2013. Gross margin improved to 49.5% form 45.9% year ago. Active customer count expanded to 1,251, up from 560 in the first quarter of 2013. Guidance: The company issued guidance for the second quarter with revenues of $88-$92 milion which is lower than expected. Sees Adjusted EBITDA of ($6.0)-($4.5) mln. THe company issued guidance for fiscal year 2014 with revenues of $420-$435 million which is line with estimates. Sees Adjusted EBITDA of $3-$6 million.
NVIDIA (NVDA) reported first quarter earnings of $0.29 per share, excluding non-recurring items, which is higher than expected, while revenues rose 15.5% year/year to $1.1 billion which is higher than expected; non-GAAP margin 55.1%. The company already reported Q1 EPS and rev on Tuesday morning after a preliminary draft of the co's Q1 results was inadvertently emailed to an internal distribution list of about 100 individuals. The company issued guidance for the second quarter with revenues of approximately $1.1 billion which is higher than expected; non-GAAP margins are expected to be ~54.0%. "Nearly 600 enterprises worldwide are now evaluating GRID, our virtual GPU server platform. VMware announced support for GRID to enable GPU-accelerated enterprise virtualization. And with IBM, Dell and HP now selling our GPUs in their high-volume servers, we expect large-scale data centers to be a significant source of growth."