BlackBerry, Red Hat Among the Market Winners on Thursday; Juniper Networks Loses Ground; Gold Close to $1,300

The markets opened higher on Thursday and have been fluctuating so far. Yesterday S&P 500 hit a new record high on the back of the Fed announcement to keep the rates low and reduce tapering by $10 billion. Currently the Dow Jones Industrial Average (INDEXDJX:.DJI) is down 0.15%, while the S&P 500 INDEX (INDEXCBOE:SPX) inched down by around 0.1%. The Russell 2000 (INDEXRUSSELL:RUT), which measures the performance of the small cap segment is also down by 0.17%.

U.S. Financial Hub: Wall Street

BlackBerry Ltd (NASDAQ:BBRY) is one of the stocks that started the day in green, and will probably close up, currently appreciating by 12% to $9.28 on the back of the financial results report. The company posted a revenue of $966 million for the first quarter of its fiscal 2015, which is down by 1% on the quarter, and significantly lower than $3.07 billion reported for the same period of last year. However, BlackBerry has reduced impressively its net loss to $0.04 per share, from $0.80 per share in the previous quarter, and $0.16 per share in the first quarter of the last fiscal year.

“The Company anticipates maintaining its strong cash position, while increasingly looking for opportunities to prudently invest in growth. The Company is targeting break-even cash flow results by the end of fiscal 2015,” BlackBerry said in a statement.

Another Tech Stock that rallied today is Red Hat Inc (NYSE:RHT), which jumped 5% at the opening of the trading, and is currently 3.40% up. The stock went up after reporting its financial results for the first quarter of the fiscal year, which showed a 17% annual increase in revenues to $425 million. The GAAP net income of Red Hat amounted to $0.20 per diluted share, versus $0.21 per share in the same period of last year.

Juniper Networks, Inc. (NYSE:JNPR), on the other hand, has lost around 3.40%, currently trading at $24.40. According to the Analyst Ratings Network, today, Mizuho has downgraded Juniper Networks to ‘Neutral’ from ‘Buy’ and reduced the target price to $26.00 from $32.00.

In the precious metals segment, Gold is appreciating, currently being over 2.00% up, at close to $1,300. Silver has also advanced, gaining 2.82%, while Copper and Platinum gaining 0.03% and 1.08% respectively. Among energy commodities, WTI Crude Oil added 0.53% so far, trading at $106.60, and BRENT is 0.61% in green, at $114.90.

Disclosure: none

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 44 percentage points in 21 months Learn how!

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!