Toward the end of trading Tuesday, the Dow traded down 0.36
percent to 16,360.34 while the NASDAQ tumbled 0.62 percent to
4,307.24. The S&P also fell, dropping 0.49 percent to
Leading and Lagging Sectors Tech stocks gained by 0.07 percent
in Tuesday's trading. Top gainers in the sector included Vitesse
), with shares up 2.7 percent and Fusion-io (NYSE:
), with shares up 4.2 percent. In trading on Tuesday, energy
shares were relative laggards, down on the day by about 0.68
Among the sector stocks, Tesco (NASDAQ:
) was down more than 6.9 percent, while Linn Energy LLC (NASDAQ:
) tumbled around 3.6 percent.
Top Headline American Eagle Outfitters (NYSE:
) reported a drop in its
fiscal fourth-quarter profit
and issued a weak profit outlook. American Eagle's quarterly
profit declined to $10.5 million, or $0.05 per share, versus a
year-ago profit of $94.8 million, or $0.47 per share. Its sales
slipped 7% to $1.04 billion versus $1.12 billion, while
comparable sales dropped 7%.
Excluding special items, its adjusted profit came in at $0.27
per share, versus analysts' estimates of $0.26 per share.
American Eagle expects Q1 per-share earnings to break even,
versus analysts' estimates of $0.13 per share.
Equities Trading UP Boyd Gaming (NYSE:
) shot up 16.27 percent to $13.72 after hedge fund Elliot
Associates disclosed a 4.99% stake in the company.
) was also up, gaining 11.58 percent to $4.53 despite little news
on the name.
The Men's Wearhouse (NYSE:
) was also up, gaining 4.42 percent to $57.00 after the company
plans to acquire
Jos. A. Bank Clothiers (NASDAQ:
) for $65.00 per share in cash, or $1.8 billion in total.
Equities Trading DOWN Shares of Myriad Genetics (NASDAQ:
) were down 9.40 percent to $34.20as the company failed to block
Ambry Genetics. US Court denied the company's motion to block
competitor genetic tests.
Urban Outfitters (NASDAQ:
) shares tumbled 4.97 percent to $35.65 after the company
results. Nomura cut the price target on the stock from $42.00 to
Plug Power (NASDAQ:
) had a wildly volatile session Tuesday, beginning the day up
over 20 percent, before turning back and falling into the red,
trading down a staggering 35.5 percent to $6.68 after Citron
Research came out with a scathing report on the company midway
through the session.
Commodities In commodity news,
oil traded down 1.37 percent
to $99.73, while gold traded up 0.41 percent to $1,347.30.
Silver traded down 0.02 percent Tuesday to $20.81, while
copper fell 2.69 percent to $2.95.
Eurozone European shares
were mostly higher
The Spanish Ibex Index fell 0.02 percent, while Italy's FTSE
MIB Index climbed 0.90 percent.
Meanwhile, the German DAX gained 0.80 percent and the French
CAC 40 declined 0.15 percent while U.K. shares rose 0.05
Economics The ICSC-Goldman same-store sales index rose 1.3% in
the week ended Saturday.
The NFIB Small Business Optimism Index fell 2.7 points to 91.4
The Johnson Redbook Retail Sales Index gained 2.5% y/y in the
first week of March.
US wholesale inventories rose 0.60% in January, versus
economists' expectations for a 0.40% gain.
US wholesale sales declined 1.9% in the month.
Job openings increased 3.97 million in January, from 3.91
million in December, according to the US Department of Labor.
However, economists were expecting a rise of 4.01 million.
© 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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