Following the market opening Thursday, the Dow traded down
0.09 percent to 15,808.02 while the NASDAQ declined 0.22 percent
to 3,956.84. The S&P also fell, dropping 0.04 percent to
Top Headline Kohl's (NYSE:
) reported an 18 percent drop in its third-quarter profit.
Kohl's quarterly profit declined to $177 million, or $0.81 per
share, from a year-ago profit of $215 million, or $$0.91 per
Its revenue dropped to $4.44 billion from $4.49 billion.
However, analysts were estimating earnings of $0.86 per share on
revenue of $4.55 billion. Kohl's also lowered its full-year
profit forecast to a range of $4.08 to $4.23 per share, versus
its earlier forecast of $4.15 to $4.35 per share. It projects Q4
earnings of $1.59 to $1.74 per share.
Equities Trading UP SolarCity (NASDAQ:
) shot up 10.25 percent to $59.45 after the company
priced $54.425 million
of Solar Asset Backed Notes. Baird upgraded the stock from
Neutral to Outperform.
Shares of E-Commerce China Dangdang (NYSE:
) got a boost, shooting up 6.55 percent to $9.60 after the
company reported upbeat Q3 earnings.
CGI Group (NYSE:
) was also up, gaining 7.28 percent to $38.59 after the company
swung to a profit
in the fourth quarter.
Equities Trading DOWN Shares of Cisco Systems (NASDAQ:
) were down 13.36 percent to $20.79 after the company posted
fiscal first-quarter revenue and issued a weak outlook. Cisco
also increased its share buyback program by $15 billion. Deutsche
Bank downgraded the stock from Buy to Hold.
) shares tumbled 7.35 percent to $53.98 after the company
18 percent drop
in its third-quarter profit and lowered its outlook.
) was down, falling 4.55 percent to $66.25 after the company
posted its Q3 unaudited financial results. Deutsche Bank
downgraded the stock
from Buy to Hold.
Commodities In commodity news, to $93.18, while gold traded up
1.06 percent to $1,281.90.
Silver traded up 1.14 percent Thursday to $20.68, while copper
fell 0.35 percent to $3.15.
Eurozone European shares today. The Spanish Ibex Index tumbled
0.37 percent, while Italy's FTSE MIB Index fell 0.79 percent.
Meanwhile, the German DAX gained 0.67 percent and the French CAC
40 climbed 0.59 percent while U.K. shares rose 0.30 percent.
Economics US jobless claims fell by 2,000 to 339,000 in the
week ended November 9. However, economists were projecting claims
to drop to 335,000.
US productivity rose by an annual rate of 1.9 percent in the
third quarter, versus economists' expectations for a 2.4 percent
increase. Unit-labor costs declined by 0.6 percent.
The US trade deficit increased to $41.8 billion in September,
versus a revised $38.7 billion in the prior month. However,
economists were expecting the deficit to rise to $39.7 billion.
The country's exports fell 0.2 percent to $188.9 billion, while
imports climbed 1.2 percent to $230.7 billion.
The Treasury is set to auction 3-and 6-month bills.
Data on money supply will be released at 4:30 p.m. ET.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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