Midway through trading Tuesday, the Dow traded down 0.34
percent to 15,206.10, while the NASDAQ fell 0.37 percent to
3,452.61. The S&P was also up, falling 0.33 percent to
Top Headline Dollar General (NYSE:
) reported a 3% rise in its first-quarter profit.
Dollar General's quarterly profit surged to $220.08 million,
or $0.67 per share, versus $213.41 million, or $0.63 per share,
in the year-ago period. Its adjusted earnings came in at $0.71
Its revenue surged to $4.24 billion from $3.90 billion, while
same-store sales rose 2.6%. However, analysts were estimating
earnings of $0.71 per share on revenue of $4.24 billion. Dollar
General projects full-year adjusted earnings of $3.15 to $3.22
per share, versus its earlier forecast of $3.15 to $3.30 per
Equities Trading UP ExactTarget (NYSE:
) shot up, gaining 52.49 percent to $33.70, after salesforce.com
) announced its plans to buy the company for $2.34 billion.
Shares of Monster Beverage (NASDAQ:
) rose steadily on Tuesday's session, gaining 10.12 percent to
$59.40 after the company's CEO stated that the company is
improving the safety of its product.
Infinity Pharmaceuticals (NASDAQ:
) got a boost, shooting up 22.61 percent to $20.17 on a report
from Piper Jaffray defending the company.
Equities Trading DOWN Dollar General (NYSE:
) was down, falling 7.66 percent to $49.44 on Q1 results.
Array BioPharma (NASDAQ:
) was down 8.48 percent to $5.30 after the company announced
proposed public offering of convertible debt.
Shares of SolarCity (NASDAQ:
) were also down, falling 8.90 percent to $37.16 despite news of
an EU tariff on Chinese solar panels starting on June 6th.
Commodities In commodity news, oil traded down 0.05 percent to
$93.40, while gold dropped 1.00 percent to $1,397.50.
Silver traded down 1.14 percent Tuesday to $22.48, while
copper rose 0.90 percent to $3.36.
Eurozone European shares traded higher in early trade after
the positive Spanish economic news and also on the ESM news.
Spain's unemployment count, those collecting unemployment
benefits, declined 98,265 in May to 4.89 million, a drop of
almost 2 percent.
The Spanish Ibex Index rose 0.92 percent and the Italian FTSE
MIB Index gained 0.29 percent. Meanwhile, the German DAX climbed
0.03 percent and the French CAC 40 rose 0.20 percent while U.K.
shares gained 0.37 percent.
Economics US trade deficit widened 8.5% to $40.3 billion in
April, versus a revised $37.1 billion in March. However,
economists were expecting the deficit to rise to $41.5 billion.
US exports increased 1.2% to $187.4 billion in April, while
imports rose 2.4% to $227.7 billion.
The ICSC/Goldman Sachs Retail Chain Store Sales Index
increased 1.9% in the week ended Saturday versus the prior
The Johnson Redbook Retail Sales Index gained 0.6% in the
first four weeks of May versus April.
Fed members Sarah Bloom Raskin, Esther George, and Richard
Fischer are expected to speak.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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