Stocks have gained slightly today as the
(INDEXSP:.INX) reached a new intraday record high for the fourth
day in a row. Economic news has been light, but a few companies
reported positive earnings. Also noteworthy, the Australian Central
Bank has cut Australia's interest rates a quarter point to 2.75%, a
record low. The
(INDEXDJX:.DJI) increased 0.31% to 15,015.96.
S&P 500 rose 0.27% to 1,621.94, and the
(INDEXNASDAQ:.IXIC) fell 0.04% to 3,391.60.
The International Council of Shoppers reported today that its
ICSC-Goldman Store Sales Index
, which measures comparable store sales at major retail chains,
fell 1% week-over-week for the week ending May 4. Year-over-year,
the index has increased 2.4%.
Redbook Research reported today that its Johnson Redbook Index,
which measures same-stores sales at chain stores, discounters, and
department stores, increased 2.3% year-over-year for the week
ending May 4 compared to a 2.8% last year. Redbook cited Easter
occurring in March rather than April helped weaken the results of
the past month.
The US Treasury auctioned $20 billion 4-week Treasury bills at a
high yield of 0% and with a bid-to-cover ratio of 5.42. The
Treasury has decreased the size of its debt offerings. The Treasury
will also auction 3-year notes today at 1:00 p.m. EDT.
The Federal Reserve Board of Governors will report on the monthly
change of consumer credit today at 3 p.m. EDT. In February,
consumer credit increased $18.1 billion, the largest monthly
increase in 13 years.
Societe Generale Group
(EPA:GLE) jumped 5.68% to $30.14. France's second-largest bank
reported a first-quarter net income of 364 million euros, or $476
million. The investment banking division's net income grew 41% to
494 million euros, but its global markets revenue declined 13% to
1.44 billion euros.
) spiked 6.11% to $61.50. The largest US satellite-television
provider reported a first-quarter net income of $690 million, or
$1.20 per share, compared to $731 million, or $1.07 per share, in
the prior-year quarter. The company faced a $166 charge related to
a Venezuelan currency devaluation in February. Revenue increased 8%
year-over-year to $7.58 billion.
) rose 3.38% to $26.02.
(TYO:4689), two of Yahoo's major holdings in Asia, reported strong
year-over-year profit growth in 2012. Yahoo owns a 24% stake in
Alibaba Group and a 35% stake in Yahoo Japan.
) fell 3.78% to $67.65. The biopharmaceutical company announced
that it's Alzheimer disease medication Gammagard failed to help
patients after 18 months of treatment in a late-stage study.
) dropped 2.53% to $3.85.
), which is awaiting regulatory approval to merge with Office
Depot, reported a first-quarter profit of $56.3 million, or $0.64
per share, compared to $4.9 million, or $0.06 per share, in the
prior-year quarter. Excluding items, the office supply retailer
earned $0.11 per share. Sales decreased 6% year-over-year to $1.77
billion. OfficeMax also announced a special dividend of $1.50 per