Mid-Morning Market Update: Markets Open Higher; Express Tops Q4 Expectations

Following the market opening Wednesday, the Dow traded up 0.04 percent to 25,016.93 while the NASDAQ climbed 0.26 percent to 7,530.82. The S&P also rose, gaining 0.16 percent to 2,769.68.

Leading and Lagging Sectors

Wednesday morning, the utilities shares gained 0.75 percent. Meanwhile, top gainers in the sector included Edison International (NYSE: EIX), up 3 percent, and Vectren Corp (NYSE: VVC), up 3 percent.

In trading on Wednesday, industrial shares rose by just 0.05 percent. Meanwhile, top losers in the sector included PRGX Global Inc (NASDAQ: PRGX), down 4 percent, and Spirit AeroSystems Holdings, Inc. (NYSE: SPR) down 3 percent.

Top Headline

Express, Inc. (NYSE: EXPR) reported better-than-expected results for its fourth quarter.

Express posted adjusted earnings of $0.34 per share on revenue of $693.8 million. However, analysts were expecting earnings of $0.32 per share on revenue of $686 million.

Express expects Q1 EPS of $(0.04)-$0.00, and FY18 EPS of $0.32-$0.46.

Equities Trading UP

Arcadia Biosciences Inc (NASDAQ: RKDA) shares shot up 107 percent to $24.15 after the company disclosed that it has achieved key resistant starch …

Full story available on Benzinga.com

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