Markets in Green on Friday; Market Movers: Shire PLC, CarMax, Oracle Corporation

In the last day of the week, the market opened higher with the S&P 500 Index (INDEXCBOE:SPX) went up 3 points at the beginning of the trading session and is currently up 0.1%, while the Dow Jones Industrial Average (INDEXDJX:.DJI) also opened in green and is currently up 0.21%. The Russell 2000 (INDEXRUSSELL:RUT) edged up 0.4% so far, after closing in green yesterday. The markets have been going up amid an increase in commodity prices. Gold has yesterday topped the $1,300 mark and is currently flat, while the oil WTI appreciated by over 0.9% to $107.40, approaching its 52-week high of $170.68.

Shire PLC (ADR)

Among the market movers on Friday is Shire PLC (ADR) (NASDAQ:SHPG), which jumped over 15% to $221 per share. The main reason for the boost was the company’s rejection of a takeover bid from AbbVie Inc (NYSE:ABBV). This is already the third offer from Abbvie and it represents around $34.70 per share in cash and 0.7988 AbbVie shares, which amount to a total of 46.11 pounds per Shire share, the total value of the deal amounting to around $46 billion.

CarMax, Inc (NYSE:KMX) also surged, adding over 18% to $53.60 per share following the first quarter results announcement. The company reported revenues up by 13.30% to $3.75 billion, and unit sales up by almost 10% on the year. The net earnings of CarMax went up by almost 16% to $169.70 million, while earnings per diluted share advanced by 18.8% on the year to $0.76.

Oracle Corporation (NYSE:ORCL) plummeted, impacted by weak financial results for the fourth quarter and full fiscal year 2014. The company reported EPS of $0.80 per share, below the estimates of $0.95 for the fourth quarter and $2.38 per share for the full year, down from the consensus estimate of $2.90 per share. Following the release of the financial statements, the shares of Oracle dropped by over 6% yesterday in aftermarket trading and currently trade 4.50% in red.

On the commodities side, aside from Gold, Silver and Copper also gained ground inching up 1.27% and 1.45% so far. Platinum on the other hand lost 1.13%. The Oil Brent has declined by 0.40% and currently trades around $1.1 below its 52-week high of $115.71.

Disclosure: none

 

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