Following the market opening Tuesday, the Dow traded up 0.08
percent to 13,982.18 while the NASDAQ fell 0.04 percent to
3,190.18. The S&P also rose, increasing 0.05 percent to
Index Technicals: The SPX is displaying a tight intraday range
between 1,514 and 1,518, while the DOW is showing a range of
12,022 to 13,860 and is looking near the top of its range.
The NASDAQ is showing signs of a breakout over 3,197, with
support at 3,175.
The Russell is showing a stall at 914.5 after making all time
highs, with support at 895.
Top Headline Michael Kors Holdings (NYSE:
) shot up 12.19 percent to $63.95 after absolutely crushing
earnings estimates this morning, beating by over 56 percent on
the bottom line and over 17 percent on the top line.
Equities Trading UP Avon Products (NYSE:
) rose sharply at the market opening, gaining 13.83 percent to
$19.67 after the company beat solidly on the bottom line and
missed slightly on the top.
Shares of Masco (NYSE:
) were also on the rise, trading up 11.19 percent to $19.78 after
beating estimates by a huge margin on the bottom line and a
strong margin on the top line. Fossil (NASDAQ:
) rose as well, gaining 7.02 percent to $115.00 after a slight
beat on the bottom line and a respectable beat on the top.
Equities Trading DOWN The Valspar (NYSE:
) dropped 7.38 percent to $61.99 after the company missed on both
top and bottom lines in its earnings report this morning.
Goodyear Tire (NASDAQ:
) also took a hit, falling 4.28 percent to $13.32 after beating
on earnings, but lowering guidance and announcing it would pull
out of its European farm tire business this morning.
Dun & Bradstreet (NYSE:
) was down as well, dropping 7.84 percent to $78.59 after missing
on top and bottom lines after the close Monday.
Commodities In commodity news, oil traded up 0.37 percent to
$97.39, while gold traded down 0.30 percent to $1,643.40.
Silver traded up 0.10 percent Tuesday to $30.81.
Euro zone In European markets this morning, shares were mixed
as Italian stocks fell, but Spanish shares rose. The Spanish Ibex
rose 0.38 percent, while the German DAX was down 0.20
Economics In economic news Tuesday morning, NFIB small
business optimism came in at 88.90, missing the expectations of
89.00, but beating the prior reading of 88.00.
(c) 2013 Benzinga.com. Benzinga does not provide investment
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