After-Hours Recap: Active Rigs Count, Top Index Movers & More

Markets Benzinga

Even though markets slipped on Friday, driven by tumbling oil prices and Apple Inc. (AAPL)'s poor performance, major indexes were still up for the week.

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The S&P 500 Index closed down 0.1 percent on Friday afternoon, with Vertex Pharmaceuticals Incorporated (VRTX) and Seagate Technology PLC (STX) having posted the largest declines 6.12 percent and 5.61 percent, respectively.

The Dow Jones Industrial Average lost 0.16 percent. Among the largest decliners were Apple, which fell 2.01 percent on reports that iPhone production cuts could be stretched into the calendar second quarter of the year, and Goldman Sachs Group Inc (GS), which was down 1.45 percent.

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The Nasdaq 100 Index also fell 0.16 percent on Friday trading, driven by losses at Vertex, Seagate and Western Digital Corp (WDC), which tumbled 3.18 percent.

Among the most active stocks of the day was ENSCO PLC (ESV), which fell 6.52 percent on more than 8 times its average volume, after the company announced that it had priced an upsized underwritten public offering of 57 million Class A ordinary shares (up from a previous proposed size of 50 million shares) at $9.25 per share.

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Like every Friday for the past 70 years, Baker Hughes Incorporated (BHI) issued its rotary rig counts. As of April 15, the United States had 440 active rigs, down from 443 last Friday and from 954 a year ago. Canada also saw a (2.4 percent) decrease in active rigs this week, to 40. A year ago, the count ascended to 80.

Finally, on a global scale (excluding North America), the rig count also dropped, from 1,018 rigs in February to 985 rigs in March.

Earnings

Citigroup Inc (C) announced its first-quarter financial results on Friday morning. EPS of $1.10 came in $0.07 ahead of estimates, while revenue of $17.56 billion beat expectations by $100 million. However, shares lost 0.1 percent during the day.

The other big earnings call of the day was that of Charles Schwab Corp (SCHW), which delivered in-line first quarter EPS of $0.29, on revenue of $1.76 billion, which beat estimates by $10 million.

After-Hours News

Fridays after-hours trading session did not see many stocks on the move. Shares of Net 1 UEPS Technologies Inc (UEPS) were down almost 2.5 percent in what seemed like a correction of the 1.83 percent surge seen during the day.

On the other hand, Cara Therapeutics Inc (CARA) was up almost 1.9 percent in what also looked like a correction of the 1.6 percent gain registered over the regular trading session.

Fox Factory Holding Corp (FOXF) was down 1.8 percent after posting a 2.16 percent rise over the day.

Finally, Groupon Inc (GRPN) gained 1.3 percent, continuing with the 3.85 percent spike it experienced on Friday trading.

In other news, Aon plc Class A Ordinary Shares (UK) (AON) boosted its quarterly dividend from $0.30 per share to $0.33 per share, and McGraw Hill Financial Inc (MHFI) said it would sell its unit J.D. Power to investment firm XIO Group for $1.1 billion.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.

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