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

 

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Top 10 Highest Paying Jobs in the World

Most Expensive Day-Care in New York City

The 10 Cheapest Places to Retire Abroad

Top 10 Most Expensive Luxury Cars in the World – 2014

Killer Small Business Ideas

The 50 Best Personal Finance Blogs

Most Expensive Apartments in New York City

Bloodiest UFC Fights Ever Fought

Most Expensive Rum Brands in the World

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!