Mid-Day Market Update: Pep Boys Tumbles On Downbeat Results; Rambus Shares Jump


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Midway through trading Tuesday, the Dow traded down 0.28 percent to 15,981.10 while the NASDAQ declined 0.19 percent to 4,061.20. The S&P also fell, dropping 0.28 percent to 1,803.27.

Top Headline Toll Brothers (NYSE: TOL ) reported a better-than-expected fourth-quarter profit. Toll Brothers' quarterly profit declined to $94.9 million, or $0.54 per share, versus a year-ago profit of $411.4 million, or $2.35 per share.

Its income before taxes climbed to $150.2 million from $60.7 million. Its revenue rose 65% to $1.04 billion. However, analysts were projecting earnings of $0.43 per share on revenue of $1.03 billion.

Equities Trading UP ARIAD Pharmaceuticals (NASDAQ: ARIA ) shot up 6.30 percent to $4.56 after Stifel Nicolaus upgraded the stock from Hold to Buy.

Shares of EVERTEC (NYSE: EVTC ) got a boost, shooting up 8.93 percent to $23.00 after the company reported the commencement of offering by selling holders.

Rambus (NASDAQ: RMBS ) was also up, gaining 19.23 percent to $10.17 as the company and Micron Technology (NASDAQ: MU ) signed a broad patent cross license agreement.

Equities Trading DOWN Shares of Pep Boys - Manny, Moe & Jack (NYSE: PBY ) were down 6.11 percent to $12.59 after the company reported weaker-than-expected results for the third quarter.

Icahn Enterprises LP (NASDAQ: IEP ) shares tumbled 7.94 percent to $136.74 after the company announced the sale of 2 million depositary units.

Analogic (NASDAQ: ALOG ) was down, falling 6.79 percent to $86.36 after the company reported Q1 results and declared a quarterly dividend.


In commodity news, oil traded up 0.59 percent to $97.91, while gold traded up 2.19 percent to $1,261.20. Silver traded up 3.22 percent Tuesday to $20.34, while copper rose 0.12 percent to $3.26.

Eurozone European shares were lower today. The Spanish Ibex Index declined 0.34 percent, while Italy's FTSE MIB Index dropped 0.18 percent.

Meanwhile, the German DAX tumbled 0.69 percent and the French CAC 40 declined 0.72 percent while U.K. shares fell 0.34 percent. Economics

The ICSC-Goldman Sachs store sales index declined 1.6% in the week ended Saturday versus the earlier week. The NFIB small-business optimism index climbed 0.9 points to 92.5 in November.

The Johnson Redbook Retail Sales Index dropped 1.5% in the first week of December versus November. US wholesale inventories rose 1.40% in October, versus economists' expectations for a 0.30% gain.

US job openings rose 3.92 million in October, from 3.88 million in September, according to the JOLTS report. The Treasury is set to auction 3-year notes.

(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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This article appears in: Investing , Commodities , Economy
More Headlines for: ALOG , ARIA , IEP , MU , RMBS

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