Toward the end of trading Wednesday, the Dow traded down 0.41
percent to 15,901.63 while the NASDAQ dropped 0.27 percent to
3,920.46. The S&P also fell, losing 0.38 percent to
Top Headline Lowe's Companies (NYSE:
third-quarter earnings and raised its outlook for fiscal
Lowe's quarterly earnings surged to $499 million, or $0.47 per
share, from $396 million, or $0.35 per share, in the year-earlier
Its revenue climbed 7% to $12.96 billion from $12.07 billion.
However, analysts were expecting earnings of $0.48 per share on
revenue of $12.73 billion. Its sales at stores open at least a
year increased 6.2%.
Equities Trading UP J. C. Penney Company (NYSE:
) shot up 7.67 percent to $9.37 after the company
reported a wider
Q3 loss. J. C. Penney also projects gross margin and comparable
sales to improve versus the year-ago period.
Shares of Herbalife (NYSE:
) were up as well, gaining 5.75 percent to $69.77 after Charlie
Gasparino reported Striritz is approaching Teamasek for an LBO
deal on Herbalife.
) was also up, gaining 9.83 percent to $26.82 after the company
reported upbeat fiscal second-quarter results and lifted its
Equities Trading DOWN Shares of Seaspan (NYSE:
) were down 9.73 percent to $21.15 after the company
priced 3,500,000 equity offering
at $22.00 per share.
The J. M. Smucker Company (NYSE:
) shares tumbled 6.71 percent to $101.27 after the company
reported a 3.1% rise
in its fiscal second-quarter earnings and cut its sales forecast
for the year.
) was also down on Wednesday's session, falling 5.91 percent to
$9.24 after the company announced a new freebies category to its
marketplace while Chairman Ted Leonsis made a filing to permit
the sale of 150K of his shares in the company.
Commodities In commodity news,
oil traded down 0.22 percent
to $93.68, while gold traded down 2.39 percent to $1,243.10.
Silver traded down 2.30 percent Wednesday to $19.91, while
copper fell 0.35 percent to $3.15.
Eurozone European shares today.The Spanish Ibex Index fell
0.83 percent, while Italy's FTSE MIB Index tumbled 0.21 percent.
Meanwhile, the German DAX rose 0.07 percent and the French CAC 40
dropped 0.09 percent while U.K. shares declined 0.22 percent.
Economics The MBA reported that its index of mortgage
application activity fell 2.30% in the week ending November
US retail sales rose 0.4% in October, versus economists'
expectations for a 0.1% gain.
The consumer price index fell 0.1% in October, while the core
CPI gained 0.1%. However, economists were projecting the overall
index to increase 0.1% and the core rate to climb 0.1%.
Sales of existing homes dropped 3.2% to an annual rate of 5.12
million in October.
Business inventories rose 0.6% in September, versus
economists' expectations for a 0.3% gain.
Crude supplies climbed 400,000 barrels for the week ending
November 15, the US Energy Information Administration reported.
However, analysts were expecting a fall of 500,000 barrels.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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