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Daily Market Wrap

John MorganJohn Morgan

The Barron’s 400 (B400) fell slightly Tuesday, giving up 1.11 points and 0.23 percent to 493.04, as investors in U.S. stocks expressed caution ahead of a decision by the Federal Reserve whether to start throttling back its massive stimulus efforts.

Year to date, the B400 is up 34.75 percent.

Top percentage gainers Monday included CommVault Systems, Wisdomtree Investments, HCI Group, CAI International and Cirrus Logic.

CommVault (CVLT), a data management software concern, jumped 8.08 percent to $73.74. Piper reiterated an overweight rating and $96 price target, saying price cut fears are unwarranted and competitive threats are less than observers believe.

Wisdomtree (WETF) gained 4.14 percent to $16.11.

Property and casualty insurer HCI Group (HCI) rose 5.17 percent to $48.22.

CAI International (CAP), a marine cargo company, advanced 3.58 percent to $22.26.

Chipmaker Cirrus Logic (CRUS) rose 3.28 percent to $19.86.

Among the leading percentage decliners in Tuesday’s session were FactSet Research, Sanderson Farms, AmTrust Financial Services, AGCO Corporation and Magellan Health Services.

FactSet (FDS) tumbled 6.27 percent to $109.73 after reporting Q1 EPS of $1.22 per share versus consensus estimates of $1.23 per share. The company said it sees Q2 EPS of $1.20 to $1.23 vs. analyst consensus of $1.25.

Sanderson Farms (SAFM) lost 3.29 percent to $68.42. The company reported Q4 EPS of $1.97 per share versus analyst expectations of $2.28.

AmTrust Financial (AFSI) slid 7.21 percent to $32.71. The company reacted to short-sellers by issuing a report saying its business was healthy and its financial reporting met necessary standards.

AGCO Corp. (AGCO) lost 4.95 percent to $57.58. Bloomberg reported demand for the company’s farm equipment in Brazil, a key market, was expected to drop in 2014.

Magellan Health (MGLN), a managed healthcare company, fell 4.67 percent to $57.01. The Wall Street Journal reported the company’s preliminary earnings forecast for 2014 disappointed analysts.

Other major indexes also fell Tuesday ahead of the Fed announcement.

The Dow Jones Industrials lost 10 points to 15,875, the Nasdaq shed 6 points to 4,024, and the S&P 500 lost 6 points to 1,781.

John Morgan is a journalist and media executive who began his career at United Press International (UPI) and Cable News Network (CNN). He is a frequent editorial contributor to and other financial news outlets. Morgan was the founder of the Entertainment News Wire and several prominent media and entertainment sites including, and He has held management positions at two successful VC-backed portfolio companies.

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