From Briefing.com: In all, the markets ended today's session all lower. Losses were led by the Dow Jones Industrial Average (16201.32, -78.57 -0.48%) followed by the Nasdaq Composite (4734.48, -18.27 -0.38%) and the S&P 500 (1932.24, -6.52 -0.34%). A late rally was not enough to take the major averages higher, but all three were noticeably higher off daily lows. Losses are piling up, though, as this makes three straight days of daily percentage losses for the major indices.
From the get-go, the broader market action was toward the downside as at lows, the Dow was down more than 200 points. The markets finished off morning lows, though, and the sectors finished as such: XLU +0.81%, XLE +0.44%, XLP +0.13%, XLK +0.00%, IYZ -0.11%, XLY -0.25%, XLB -0.27%, XLI -0.68%, XLF -0.71%, XLV -1.05%. In that mix, Technology was essentially a no-story as the sector finished the session flat.
In all, almost every sub-sector in Technology was lower today. Leading the declines, North American Tech/Multimedia Networking ETF (IGN 36.05, -0.06 -0.18%) traded with some notable weight down. Names in the ETF that held the sector down today were UBNT -6.32%, CIEN -1.97%, XXIA -1.87%, HRS -1.24%, INFN -1.06%, SATS -0.83%, QCOM -0.52%.
Among the S&P 500 Information Technology sector (669.32, -0.01 -0.00%) components, large cap names QRVO -2.68%, ADI -2.17%, SWKS -2.01%, ADBE -1.86%, YHOO -1.34% took the sector lower. The sector did however trade briefly above flat lines, after trading the entire session in the red. The sector closed down, though, as broader market trading action took it lower.
Other notable news items among sector components:
IBM (IBM 144.41, +0.73 +0.51%) expanded the industry's largest and most diverse set of cognitive APIs, technologies and tools for developers who are creating products, services and applications embedded with Watson.
Autodesk (ADSK 47.05, +0.13 +0.28%) acquired netfabb, but financial terms of the deal were not disclosed. The deal is also not expected to impact previously issued guidance.
Alba Leasing, one of Italy's top leasing companies, has chosen Accenture (ACN 97.77, -0.12 -0.12%) to support its digital transformation program under a new agreement the companies have signed.
ACN also announced an increase to its semi-annual dividend to $1.10 from $1.02 per share. The Board also approved an additional $5 billion in share repurchase authority.
Cisco Systems (CSCO 25.41, +0.13 +0.51%) confirmed it will set up a Joint Venture with Inspur, and that both CSCO and Inspur will contribute an initial $100 million to the deal.
Harris Corporation (HRS 71.55, -0.93 -1.28%) has received a $21 million order from a Latin American nation for Falcon III tactical radios that will be used to establish high data rate networks as part of a military communications modernization program
Elsewhere in the technology space:
Synchronoss Tech (SNCR 35.74, +2.37 +7.10%) reiterated that it has a multi-year contract in place with
Verizon (VZ 44.09, +0.11 +0.25%) focused primarily on the company's Personal Cloud offering and related services. The company also stated that there has been no change to said agreement.
Gilat Satellite (GILT 3.63, -0.32 -8.10%) lowered FY15 projections due to recent decisions by its customers to delay several large-scale projects. Based on preliminary estimates, revenues for the second half of 2015 are expected to be between $120-130 million and second half EBITDA is expected to be between $8-10 million. As a result, revenues for the full year of 2015 are expected to be between $210-220 million and EBITDA between $6-8 million.
RigNet (RNET 26.67, -0.34 -1.26%) was awarded a contract to provide remote communications solutions to a premium offshore driller across its entire global fleet of existing and newbuild rigs.
Paylocity (PCTY 30.64, -1.34 -4.19%) announced an offering of 3.74 million shares of common stock by selling shareholders.
Dataram (DRAM 1.6+3, +0.11 +7.24%) regained compliance with Nasdaq listing requirements, in regards to its prior shareholder-equity deficiency.
SuperCom (SPCB 8.03, +0.15 +1.90%) approved a one million share repurchase program.
Shanda Games (GAME 6.66, -0.05 -0.75%) entered into an amended and restated merger agreement related to the 'going private' transaction.
Relm Wireless (RWC 4.67, -0.27 -5.47%) announced that its Board of Directors has terminated the proposed reincorporation to be voted on by its shareholders at a special meeting scheduled for Sept. 30, 2015. The special meeting therefore has been cancelled.
NCI (NCIT 14.33, +0.13 +0.92%) was awarded a cost-plus-fixed-fee task order valued at $14.5 million to provide a diverse range of engineering, architecture, integration and readiness support services to the U.S. Army.
Q2 Holdings (QTWO 25.98, -2.82 -9.78%) launched a follow-on public offering by the company and certain shareholders. Offering is to sell an aggregate of 3,798,996 shares, consisting of 853,409 shares to be offered by Q2 and 2,945,587 shares to be offered by the selling stockholders.
Jive Software (JIVE 4.71, +0.02 +0.43%) named David Puglia as its new chief marketing officer (CMO). Puglia's credentials include serving at public companies such as Alcatel-Lucent (ALU 3.55, +0.01 +0.25%) and Oracle (ORCL 36.06, +0.07 +0.19%).
MercadoLibre (MELI 92.52, -0.07 -0.08%) obtained approval from the Argentine Industry Secretary for income tax and payroll exemptions under a new software development law.
BSQUARE (BSQR 7.56, +0.41 +5.73%) entered into a two-year, $12 million credit agreement with JPMorgan Chase.
Companies that reported last night or this morning:
Accenture (ACN) reported Q4 EPS and revs which were better than expected; the company also guided Q1 revenues worse than expected. In addition to the results, ACN announced an 8% dividend raise to $1.10 per share. The company also added $5 billion to the share buyback allotment.
Analyst actions:
NMBL was upgraded to Buy from Neutral at Longbow,
QLYS was upgraded to Neutral from Underperform at Macquarie
7:00 pm Verizon introduces new iPhone upgrade plan (VZ) : Veizon announced that if its customers purchase either the iPhone 6s or iPhone 6s Plus with Verizon's Device Payment option beginning Friday, September 25, they are eligible to get a new iPhone every year. The new program allows one to turn in their phone and upgrade to a new iPhone every year.
4:59 pm Coherent CFO Helene Simonet to retire effective February 1 (COHR) : Simonet says she is committed to assisting in Coherent's search for a new CFO and to ensure an orderly transition
4:15 pm Marvell announces restructuring of its mobile platform business, expects the initiative to result in annualized operating expense savings in the range of $170-220 mln (MRVL) :
Based on preliminary estimates for the first half of fiscal 2016, the Company's mobile platform generated roughly $122 million in revenues and roughly $13 million in gross profit. The successful restructuring of the mobile business is currently expected to result in annualized operating expense savings in the range of $170 million to $220 million. Included in this operating expense savings is estimated share based compensation in the range of $15 million to $20 million.
The downsizing of the mobile platform organization is currently expected to result in an approximately 17% reduction in global headcount. The restructuring will begin immediately and the Company expects the major activities to take place through the end of fiscal 2016. As a result, the Company expects to incur total charges of approximately $100 million to $130 million.
The major components of the total charge include severance and employee-related costs expected to be incurred in the third and fourth quarters of fiscal 2016 and are expected to be in the range of $45 million to $55 million. Other major components include facilities and asset impairment charges in the range of $30 million to $40 million and an inventory write down charge in the range of $25 million to $35 million.
4:05 pm Jabil Circuit beats by $0.09, beats on revs; guides Q1 above consensus (JBL) :
Reports Q4 (Aug) earnings of $0.53 per share, excluding non-recurring items, $0.09 better than the Capital IQ Consensus of $0.44; revenues rose 15.4% year/year to $4.68 bln vs the $4.55 bln consensus.
Diversified Manufacturing Services revenue: $7.1 billion, an increase of 39% year-over-year.
Electronics Manufacturing Services revenue: $10.8 billion, an increase of 1% year-over-year.
Co issues upside guidance for Q1, sees EPS of $0.72-0.88, excluding non-recurring items, vs. $0.59 Capital IQ Consensus Estimate; sees Q1 revs of $5.1-5.3 bln vs. $4.94 bln Capital IQ Consensus Estimate.
4:05 pm : The stock market finished Thursday on a modestly lower note after erasing the bulk of its early loss. The S&P 500 settled lower by 0.3% while the Dow Jones Industrial Average (-0.5%) and Nasdaq Composite (-0.4%) underperformed.
The final standing represented a notable shift from the morning dynamic that saw equity indices gap down at the start amid selling in Europe. To that point, markets in France and Germany both lost near 2.0% apiece with automakers facing continued pressure. BMW was among the weakest performers in Germany, falling 5.2%, with company executives pushing back against insinuations that the company may have taken a page out of Volkswagen's playbook, saying they are ready to provide vehicles for testing on demand.
To be sure, the losses among automakers were not the culprit behind the slide in Europe, but they represented another source of pressure in market that has been wrestling with persistent growth concerns surrounding China. Those concerns were echoed by Caterpillar (CAT 65.80, -4.40) as the manufacturer of heavy machinery lowered its guidance and announced plans to reduce its workforce by 4,000 to 5,000 people by the end of next year. Shares of CAT settled lower by 6.3%, keeping the industrial sector (-0.7%) among the laggards throughout the day.
The industrial sector finished the day in negative territory, but the cyclical group put a notable dent in its opening decline, climbing off lows alongside the broader market. As for the S&P 500, the benchmark index hit its low just after 11:00 ET, which was followed by a steady march higher that accelerated during the late afternoon.
Similar to industrials, heavily-weighted financials (-0.7%) and health care (-1.1%) underperformed into the close, but their losses were outweighed by an intraday rally in energy (+0.4%), technology (unch), and consumer staples (+0.1%). In addition, the utilities sector (+0.8%) displayed relative strength throughout the day, building on its gain even as Treasuries slipped from their highs with the 10-yr yield narrowing its loss to two basis points at 2.13% after testing the 2.09% level in the morning.
Elsewhere, the energy sector turned positive with help from crude oil, which rallied 0.9% to $44.94/bbl after briefly dipping below $44.00/bbl in the morning. The energy sector narrowed this week's loss to 1.5% while WTI crude will enter the Friday session little changed for the week.
Also of note, the consumer discretionary sector (-0.3%) settled in-line with the broader market even though homebuilders displayed relative strength after KB Home (KBH 14.60, +0.15) reported a one-cent beat on better than expected revenue. KB Home settled higher by 1.1% while iShares Dow Jones US HomeConstruction ETF (ITB 27.21, +0.07) added 0.3%.
Today's participation was ahead of recent averages as more than a billion shares changed hands at the NYSE floor.
Economic data included Initial Claims, Durable Orders, and New Home Sales:
Weekly initial claims increased to 267,000 from an unrevised 264,000 while the Briefing.com consensus expected an increase to 271,000
Layoff trends remain extremely low as the four-week moving average dropped to 272,000 from 273,000, remaining at levels normally associated with full employment
Durable goods orders declined 2.0% in August after increasing a downwardly revised 1.9% (from 2.2%) in July while the Briefing.com consensus expected a decline of 2.0%
As expected, the transportation sector weighed down durable goods demand with total transportation orders declining 5.8%, paced be falling orders for motor vehicles (-1.6%) and aircraft (-3.5%)
Excluding transportation, durable goods orders were flat in August after increasing an unrevised 0.4% while the consensus expected an increase of 0.2%
New home sales increased 5.7% in August to 552,000 from an upwardly revised 522,000 (from 507,000) while the Briefing.com consensus expected a reading of 515,000
That was the most new homes sold since 593,000 homes were sold in February 2008; however, at that time, sales were trending down
Demand was strongest in the Northeast, where sales increased 24.1%. Sales in the South (7.4%) and West (5.4%) were also positive while sales in the Midwest declined 9.1%
Tomorrow, the third estimate of Q2 GDP will be released at 8:30 ET (Briefing.com consensus 3.7%) while the final reading of the Michigan Sentiment survey for September (consensus 87.0) will be reported at 10:00 ET.
Nasdaq Composite +0.1% YTD
Russell 2000 -5.4% YTD
S&P 500 -6.1% YTD
Dow Jones Industrial Average -9.0% YTD
DJ30 -78.57 NASDAQ -18.27 SP500 -6.51 NASDAQ Adv/Vol/Dec 1269/1.84 bln/1716 NYSE Adv/Vol/Dec 1234/1.00 bln/1842
3:35 pm :
Gold and silver futures held gains today, which came after this morning's rally
By the end of today's session, Dec gold closed +2.0% at $1153.90/oz, while Dec silver ended +2.4% at $15.14/oz
Oil prices recovered off of today's low and is now near today's high along with natural gas
Nov crude oil closed the session +0.9% at $44.94/barrel, while Oct nat gas rose +0.8% to $2.59/MMBtu
Dec copper ended today flat at $2.30/lb
11:39 am Stocks/ETFs that traded to new 52 week highs/lows this session- New lows (121) outpacing new highs (2) (SCANX) :
Stocks that traded to 52 week highs: ATVI, CUBE
Stocks that traded to 52 week lows: ABB, ABEV, ACAS, ADM, AEG, AES, ALSN, AMT, APA, AR, BBD, BBVA, BEAV, BEN, BKD, BP, BRFS, BSBR, BWA, CAT, CBS, CCJ, CF, CFX, CG, CIG, CIT, CMA, CMI, CNHI, CNX, CPGX, CPN, CVA, DAN, DB, DE, DFS, DO, EMR, EPD, ETE, FAST, FE, FLR, FLS, FMC, GPOR, GRMN, GRUB, GSK, HES, HSBC, HST, HUN, IP, IR, ITUB, JEC, KMI, KSS, LNG, LRCX, M, MEOH, MJN, MNK, MON, MOS, MPEL, MT, MUR, MWE, MYL, NSAM, NUE, NWSA, NYLD, OXY, PAA, PAH, PAY, PBR, PBR.A, PH, PHG, PNR, POT, PX, QCOM, RDS.A, RDS.B, SAN, SAP, SBH, SBS, SDRL, SLM, SNI, STX, SWFT, SWN, SXL, TCK, TEF, TERP, TEX, TIF, TRMB, TSU, TYC, UL, UTX, VIV, WDC, WMB, WPZ, WYNN, X, XPO, YHOO
ETFs that traded to 52 week highs: none
ETFs that traded to 52 week lows: AMJ, EFA, EWG, EWP, EWU, EWZ, EZU, FXC, IDX, ILF, IYM, MOO, NLR, SLX, UNG, VGK, XME
Note: To reduce the list of stocks making 52 week highs/lows to a manageable size we have filtered out stocks below $2 bln in market cap and below 1 mln average volume. Without this filter 16 stocks made 52 week highs and 494 stocks made 52 week lows.
AI
Market Data 
Markets 
