U.S. stocks edged lower Thursday mid-day under the weight of
higher-than-expected jobless claims for the week ended January 26.
News that personal income soared in December did little to boost
trading activity. Despite a down market, the Dow and S&P 500
are flirting with all-time highs last reached in October 2007.
The U.S. Labor Department reported that jobless claims rose to
368,000, above economists' forecast of 355,000. In the week ended
Jan. 26, 38,000 people filed for unemployment benefits, taking the
number to the 368,000 previously quoted, which is a one-month high.
The average of new claims over the past month, meanwhile, edged up
by 250 to 352,000.
Personal incomes rose a seasonally adjusted 2.6% in December,
according the Commerce Department, their fastest pace in eight
years. However, economists say higher income is due to one-time
dividend distributions and will reverse sharply in January.
Consumer spending rose 0.2% in December, in line with
U.S. sectors were lower with cons. non-cyclical leading the
pack, down 1.13%. Services and utilities marked the slimmest loss,
down 0.02% and 0.06%, respectively.
Commodities were lower mid-day. Crude oil for March delivery was
down $0.84 to $97.10 a barrel. March natural gas was down $0.015 at
$3.32 per 1 million BTU.
In metals, February gold futures were down $16.10 at $1,663.80
per ounce. March silver was down $0.497 at $31.68 per ounce in
electronic trade. March copper was down $0.006 at $3.74 per
Here's where the markets stand at mid-day:
Dow Jones Industrial Average (^DJI) down 33.70 (-0.24%)
S&P 500 (^INX) down 3.84 (-0.26%) 1,498.12
Nasdaq Composite Index (^IXIC) down 1.15 (-0.04%) 3,141.15
NYSE Composite (^NYA) down 25.59 (-0.29%) 8,878.71
Nikkei 225 Index up 0.22%
Hang Seng Index down 0.39%
Shanghai China Composite Index up 0.12%
FTSE 100 Index down 0.33%
DAX down 0.17%
NYSE SECTOR INDICES
NYSE Financial Sector Index (^NYK) down 12.60 (-0.23%) at
NYSE Energy Sector Index (^NYE) down 94.43 (-0.70%) at
NYSE Healthcare Sector Index (^NYP) down 27.17 (-0.32%) at
(+) LPS (+6.07%) Has entered into settlement agreements with the
attorneys general of 46 states and the District of Columbia. The
multi-state settlement, which includes an aggregated payment by LPS
of $127 million, resolves inquiries surrounding the company's
default operations, including former document preparation,
verification, signing and notarization practices of certain
(+) HHS (+21.72%) Reported Q4 earnings of $0.24 per share, ex
one-time items, versus the Capital IQ consensus of $0.19. Revenues
were $204.84 million, versus the analyst estimate of $208.23
(+) AN (+6.48%) Reported Q4 earnings of $0.67 per share, ex
one-time items, versus the Capital IQ consensus of $0.64. Revenues
were $4.17 billion, versus the analyst estimate of $3.98 billion.
Same store retail new vehicle unit sales increased 17% and were up
(+) BX (+5.91%, below new high) Reported Q4 earnings of $0.59
per share, ex one-time items, versus the Capital IQ consensus of
$0.47. Revenues were $1.22 billion, versus the analyst estimate of
(-) RDEN (-17.03%) Reported Q2 earnings of $1.58 per share, ex
one-time items, versus the Capital IQ consensus of $1.64. Revenues
were $467.92 million, versus the analyst estimate of $492.58
million. RDEN sees Q3 EPS of $0 - $0.04 on revenues of $255 million
- $270 million. The Street view is EPS of $0.18 on revenues of
(-) LQDT (-24.83%, above new low) Reported Q1 2013 earnings of
$0.20, worse than estimates of $0.38, and compared to earnings of
$0.28 in Q1 2012. Revenues came in at $122.2 million, below
estimates of $130.6 million, and compared to $106.2 million the
year prior. LQDT revised full-year guidance downward, and now sees
EPS for fiscal 2013 to range from $1.90 to $2.02, a decrease from
previous guidance of $2.05 to $2.23.
(-) NEWN (-1.79%, near low) Said that its subsidiary, Shenzhen
Anytone Technology, has renewed its agreement with New Trent Inc.,
a retailer and distributor of mobile power devices, to manufacture
New Trent's products to be sold in the U.S. and U.K. in 2013.
(-) CLSN (-81.38%, above new low) Announced that ThermoDox in
combination with radiofrequency ablation (RFA) did not meet the
primary endpoint of the phase 3 HEAT Study in patients with
hepatocellular carcinoma (
), which is the most common form of liver cancer.
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