Market News: Verizon, VeriFone, Vera Bradley, Ciena, ENDP

Market News: Verizon, VeriFone, Vera Bradley, Ciena, ENDP

Post Market News

Stocks that were active in U.S. trading on Thursday include Verizon Communications Inc. (NYSE:VZ), VeriFone Systems Inc (NYSE:PAY), Vera Bradley, Inc. (NASDAQ:VRA), Ciena Corporation (NASDAQ:CIEN) and Endo Health Solutions Inc (NASDAQ:ENDP).

Market News: Verizon, VeriFone, Vera Bradley, Ciena, ENDP

Market Levels

  • U.S.: Dow Jones: 15,006.20 (+0.30%), S&P 500: 1,619.19 (+0.64%), Nasdaq: 3,417.07 (+0.46%)
  • World Markets: Shanghai: 2,242.11 (-1.27%), Nikkei 225: 12,904.02 (-0.85%), Hang Seng Index: 21,838.43 (-1.05%), TSEC: 8,096.14 (-1.05%), FTSE 100: 6,336.11 (-1.30%), EURO STOXX 50: 2,676.21 (-1.22%), BSE Sensex: 19,519.49 (-0.25%)
  • Metals: Gold: $1,415.80 (+1.24%), Silver: $22.71 (+1.05%), Platinum: $1,529.30 (+1.24%)
  • Currency: EUR/USD: 1.3245 (+1.22%), USD/JPY: 97.23 (-1.99%), GBP/USD: 1.5607 (+2.01%), USD/CAD: 1.0263 (-0.82%), USD/CNY: 6.1362 (+0.14%), AUD/USD: 0.9611 (+0.90%)
  • 10 year U.S. Treasury: 2.07% (-0.05), 30 year U.S. Treasury: 3.22% (-0.05)

Market & Economy Update

Data showed today that rising stock markets and house prices have pushed U.S. household wealth by $3 trillion in the first quarter to $70.3 trillion. The Federal Reserve said that household wealth has surpassed levels last seen before the 2008 financial crisis. Stock markets in Asia and Europe edged down today. However, U.S. stocks posted gains in today’s session. The Dow Jones Industrial Average inched up 54.41 points to 15,015.00, the S&P 500 Index rose 11.98 points to 1,620.88, while Nasdaq gained 18.96 points to 3,420.62.

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Stocks In Focus

Verizon Communications Inc. (NYSE:VZ)

The Guardian newspaper reported that the phone records of millions of Verizon customers were collected by the National Security Agency in a secret court order. A Federal Court granted the FBI an order in April requiring Verizon to provide information to the NSA on all the daily telephone calls made by its customers. Despite the negative effects of the report, Verizon shares rose 3.46 percent to end the session at $49.97.

VeriFone Systems Inc (NYSE:PAY)

The card payment systems maker unexpectedly posted second quarter losses. VeriFone said its product sales dropped during the quarter and the company incurred significant litigation charges. Excluding one-time items, the company earned 42 cents on revenues of $430 million. Analysts were expecting 47 cents in EPS and $440 million in revenues. VeriFone also issued downbeat guidance for the third quarter. Shares slumped 20.96 percent to $17.35.

Vera Bradley, Inc. (NASDAQ:VRA)

The handbag designer’s first quarter profits plunged 27 percent due to increased costs, though revenues increased 5 percent to $123 million and earnings were still above consensus estimates. But the company issued pessimistic guidance for the current quarter and full year. Additionally, Vera Bradley CEO Michael C. Ray announced he will step down. Shares skidded 7.84 percent to $20.67.

Ciena Corporation (NASDAQ:CIEN)

The networking equipment maker’s second quarter losses narrowed as revenues were better than expected. The company’s current quarter guidance came above Wall Street expectations. Shares jumped 17.41 percent to $19.15 at the end of the trading session.

Endo Health Solutions Inc (NASDAQ:ENDP)

The pharmaceutical company lowered its full-year earnings outlook. But it unveiled several cost-cutting measures including laying off 15 percent of its total workforce and exploring other strategic alternatives so that it can focus on its core business. Shares rose 4.25 percent to $37.49.

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