#PreMarket Primer for November 27: Some US Retailers Fight To Preserve Thanksgiving
With several large retail chains planning to begin their Black Friday deals on Thanksgiving, some retailers are holding firm and refusing to participate even if it means losing some of their sales.
Although the stores could lose valuable sales as many shoppers are planning to head out on Thursday to pick up large ticket items like gaming consoles and TVs, their strategy includes an emotional "save Thanksgiving" message which could win them customers. The National Retail Federation has estimated that 33 million people will spend money on Thanksgiving, whether it be in stores or online.
Asian markets were mixed again on Wednesday, the Japanese NIKKEI was down 0.42 percent and Australia's ASX 200 lost 0.45 percent. However China's Shanghai composite gained 0.82 percent and the Shenzhen composite rose 1.12 percent.
European markets began the day on a low note, the UK's FTSE lost 0.87 percent and Italy's MIB was down 0.05 percent. The eurozone's STOXX 600 fell 0.33 percent and France's CAC 40 lost 0.57 percent.
Energy futures were mixed, Brent futures were up 0.03 percent and WTI futures lost 0.23 percent. Gold gained 0.30 percent and silver was up 0.31 percent. Industrial metals were down across the board with zinc falling the furthest, down 0.89 percent.
Currency markets were quiet, the euro was steady at $1.35 and the pound was up 0.02 percent on the greenback. The dollar gained 0.35 percent on the yen and 0.12 percent against the Australian dollar.
Notable earnings released on Tuesday:Hewlett-Packard Company (NYSE: HPQ ) reported fourth quarter EPS of $1.10 on revenue of $29.10 billion, compared to last year's EPS of $1.16 on revenue of $29.96 billion. Hormel Foods Corporation (NYSE: HRL ) reported fourth quarter EPS of $0.58 on revenue of $2.30 billion, compared to last year's EPS of $0.49 on revenue of $2.17 billion. Tiffany & Co. (NYSE: TIF ) reported third quarter EPS of $0.73 on revenue of $911.50 million, compared to last year's EPS of $0.49 on revenue of $852.74 million. TiVo Inc. (NASDAQ: TIVO ) reported third quarter EPS of $0.10 on revenue of $117.30 million, compared to last year's EPS of $0.44 on revenue of $60.96 million.
Stocks moving in the Premarket included:Hewlett-Packard Co (NYSE: HPQ ) gained 7.17 percent in premarket trade after falling 0.91 percent on Tuesday. United States Steel Corp (NYSE: X ) rose 0.38 percent in premarket trade after falling 3.03 percent over the past week Ford Motor Co (NYSE: F ) was up 0.12 percent in premarket trade after losing 0.41 percent on Tuesday Intel Corp (NYSE: INTC ) was down 0.47 percent in premarket trade following a 4.25 percent loss over the past five days
No notable earnings expected on Wednesday
Notable economic releases on Wednesday include British GDP, Spanish retail sales, US durable goods orders, US housing starts, US new home sales and US consumer sentiment.
For a recap of Tuesday's market action click
Tune into Benzinga's pre-market info show with Dennis Dick and Joel Elconin here .
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Free Trading Education - Check out the free events taking place on Marketfy this week. Spaces are limited. Sign up today.