Following the market opening Friday, the Dow traded up 0.72 percent to 16,380.76 while the NASDAQ surged 0.80 percent to 4,184.38. The S&P also rose, gaining 0.70 percent to 1,861.92.
Leading and Lagging Sectors
Technology stocks gained Friday, with Parametric Sound (NASDAQ: PAMT) leading advancers after the company provided post merger update and outlook. Among the leading sector stocks, gains came from 21Vianet Group (NASDAQ: VNET), BlackBerry (NASDAQ: BBRY), Canadian Solar (NASDAQ: CSIQ), and Veeco Instruments (NASDAQ: VECO).
In trading on Friday, utilities shares rose by just 0.17 percent. Among the sector stocks, Exterran Partners LP (NASDAQ: EXLP) was down more than 5.3 percent, while PG&E (NYSE: PCG) tumbled around 3.7 percent.
BlackBerry (NASDAQ: BBRY) posted a narrower-than-expected fourth-quarter loss.
BlackBerry posted a quarterly net loss of $423 million, or $0.80 per share, versus a year-ago profit of $98 million, or $0.19 per share. Its loss from continuing operations came in at $423 million, or $0.80 per share, compared to a year-ago profit of $94 million, or $0.18 per share. BlackBerry’s adjusted loss from continuing operations came in at $0.08 per share.
Its revenue slipped 64% to $976 million. However, analysts were estimating a loss of $0.56 per share on revenue of $1.17 billion. BlackBerry sold around 3.4 million smartphones in the quarter.
Equities Trading UP
BlackBerry (NASDAQ: BBRY) shares shot up 4.64 percent to $9.47 after the company posted a narrower-than-expected fourth-quarter loss. BlackBerry sold around 3.4 million smartphones in the quarter.
Shares of Restoration Hardware Holdings (NYSE: RH) got a boost, shooting up 11.47 percent to $71.13 after the company reported adjusted Q4 earnings of $0.83 per share on revenue of $471.7 million. However, analysts were estimating earnings of $0.82 per share on revenue of $491.3 million. The company also issued a strong first-quarter profit forecast.
Ariad Pharmaceuticals (NASDAQ: ARIA) was also up, gaining 6.71 percent to $8.11 on a report from the UK Daily Mail that Jazz Pharmaceuticals is willing to pay $20.00 per share for the maker of Iclusig.
Equities Trading DOWN
Shares of Aviva plc (NYSE: AV) were down 7.25 percent to $14.94 after the company announced its plans to sell US equity manager River Road to Affiliated Managers Group.
Caesars Entertainment (NASDAQ: CZR) shares tumbled 6.69 percent to $19.67 session after the company announced an offering of 7 million shares of common stock.
In commodity news, oil traded up 0.58 percent to $101.87, while gold traded down 0.26 percent to $1,291.40.
Silver traded up 0.57 percent Friday to $19.82, while copper rose 1.65 percent to $3.04.
European shares were higher today.
The Spanish Ibex Index rose 0.83 percent, while Italy’s FTSE MIB Index gained 1.33 percent.
Meanwhile, the German DAX surged 0.86 percent and the French CAC 40 climbed 0.28 percent while U.K. shares gained 0.11 percent.
US consumer spending rose 0.3%, while personal income climbed 0.3% in February. However, economists were expecting a 0.3% increase in spending and a 0.3% gain in personal income.
The final reading of the Reuter's/University of Michigan's consumer sentiment index rose to 80.00 in March, versus a preliminary March reading of 79.90. However, economists were expecting a reading of 80.50.
Data on farm prices for March will be released at 3:00 p.m. ET.
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