Mid-Morning Market Update: Markets Mostly Flat; Cracker Barrel Earnings Top Estimates

Following the market opening Wednesday, the Dow traded up 0.01 percent to 22,122.16 while the NASDAQ declined 0.01 percent to 6,453.88. The S&P also rose, gaining 0.01 percent to 2,496.71.

Leading and Lagging Sectors

Wednesday morning, the energy shares surged 0.55 percent. Meanwhile, top gainers in the sector included Ballard Power Systems Inc. (USA) (NASDAQ: BLDP), up 13 percent, and Oasis Petroleum Inc. (NYSE: OAS), up 10 percent.

In trading on Wednesday, basic materials shares fell 0.77 percent. Meanwhile, top losers in the sector included Cleveland-Cliffs Inc (NYSE: CLF), down 4 percent, and Intrepid Potash, Inc. (NYSE: IPI) down 5 percent.

Top Headline

Cracker Barrel Old Country Store, Inc. (NASDAQ: CBRL) reported better-than-expected earnings for its fourth quarter, while sales missed estimates.

Cracker Barrel expects Q4 earnings of $2.23 per share on revenue of $743.2 million. Analysts were projecting earnings of $2.18 per share on …

Full story available on Benzinga.com

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