Toward the end of trading Thursday, the Dow traded up 0.13
percent to 15,327.52, while the NASDAQ fell 0.12 percent to
3,459.98. The S&P was also down, declining 0.24 percent to
Top HeadlineDollar Tree (NASDAQ:
) reported a 15 percent rise in its fiscal first-quarter earnings
and lifted its full-year earnings forecast. Dollar Tree now
expects full-year earnings of $2.61 to $2.77 per share on sales
of $7.81 billion to $7.97 billion. The company, in February,
expected earnings of $2.54 to $2.74 per share on sales of $7.79
billion to $7.97 billion. It also expects current-quarter
earnings of $0.52 to $0.57 per share on sales of $1.81 billion
and $1.86 billion.
However, analysts were expecting earnings of $0.57 per share
on sales of $1.86 billion.
Dollar Tree's quarterly profit surged to $133.5 million, or
$0.59 per share, from $116.1 million, or $0.50 per share, in the
year-ago period. Its sales climbed 8.3 percent to $1.87 billion.
The company, in February, projected earnings of $0.53 to $0.58
per share on revenue of $1.84 billion to $1.89 billion.
Equities Trading UPrue21 (NASDAQ:
) shot up, gaining 22.80 percent to $41.90, after the company
agreed to be acquired by Apax for $1.1 billion. Hewlett-Packard
) was also up 15.49 percent to $24.52, after the company reported
upbeat FQ2 earnings. Ply Gem Holdings (
) was up as well, gaining 12.14 percent to $23.55 after the
company's successful IPO this morning.
Equities Trading DOWNSolarWinds (NYSE:
) traded down 1.67 percent to $40.65 as the company continued its
sell off from Wednesday, but recovered strongly from the lows of
the day. Tempur-Pedic (NYSE:
) was also down, falling 1.62 percent to $42.58 after the company
completed a debt round this morning. SunPower (NASDAQ:
) was down early in Thursday's session but recovered late in the
day, remaining down 0.10 percent to $19.17 after the company
priced $300 million of its 0.75 percent senior convertible
debentures due 2018.
Commodities In commodity news, oil traded up 0.90 percent to
$96.02, while gold fell 2.06 percent to $1,358.70. Silver traded
up 1.47 percent Thursday to $22.62, while copper fell 1.70
percent to $3.32.
Euro zone European shares were lower on Thursday. The Spanish
Ibex Index fell 2.01 percent and the Italian FTSE MIB Index
dropped 2.72 percent. Meanwhile, the German DAX tumbled 2.63
percent and the French CAC 40 fell 2.52 percent while U.K. shares
declined 1.92 percent.
Economics US jobless claims declined 23,000 to 340,000 in the
week ended May 18. However, economists were estimating claims to
fall to 343,000. Continuing claims fell 112,000 to 2.9 million in
the week ended May 11. US home prices surged 1.3 percent in
March, the Federal Housing Finance Agency reported. The US flash
manufacturing purchasing managers' index dropped to a reading of
51.9 in May, versus a reading of 52.1 in April, Markit
The Bloomberg Consumer Comfort Index rose to minus 29.4 for
the week ended May 19, versus minus 30.2 in the earlier week. New
home sales rose 2.3 percent to an annual rate of 454,000 in
April, versus an upwardly revised 444,000 in March. However,
economists were projecting new home sales to reach 430,000 in
April. The Kansas City Fed manufacturing index for May will be
released today. Data on money supply will be released at 4:30
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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