Gain In Retail Sales Lifts Markets
July retail sales climbed more than expected to lift the markets to a higher open with the Dow rising 18 points to 13,187. Nasdaq added 2 points to 3024.
On the upside
Michael Kors (NYSE: KORS) reported sharply higher first quarter revenue and earnings that surpassed analyst expectations by a wide margin, forecast current quarter results ahead of estimates and lifted its full year guidance.
Velti (Nasdaq: VELT) narrowed second quarter losses as revenue surged and raised its full year outlook.
Fourth quarter earnings and revenue rose for Estee Lauder (NYSE: EL) to top analyst estimates.
On the downside
Groupon (Nasdaq: GRPN) reversed year ago losses to post a profit for the second quarter but revenue fell short of expectations prompting downgrades. Shares of Nokia (NYSE: NOK) continued falling after losing its position as global market leader of mobile phone sales to Samsung.
Wedbush Securities analyst Gil Luria downgraded NCR (NYSE: NCR) for possibly violating the Foreign Corrupt Practices Act by continuing business transactions in Syria despite economic sanctions.
In the broad market, advancing issues outpaced decliners by a margin of 2 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 801.
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here