This tenth trading week of 2012 comes to a close with investors keeping a close eye on oil prices and unfolding events in Greece.
Hi. I'm Sayoko Murase. Welcome to the 'Weekly Market Wrap' for Friday March 9, 2012.
The S&P 500 was little changed for the week late on Friday afternoon, while the NASDAQ was slightly higher, and the Dow Jones Industrial Average was slightly lower.
Crude oil futures are slightly higher this week, trading $107.38 per barrel on Friday afternoon.
Gold futures are little changed this week, to $1711.77 an ounce in afternoon trading.
In notable economic news this week, the Labor Department said that employers added a better-than-expected 227,000 jobs in February. However, the unemployment rate was steady at 8.3 percent.
In corporate news this week, Nutrisystem (NTRI) announced that it lost four cents per share in its fiscal fourth quarter, above analyst estimates of two cents per share. Revenue dropped to $66.9 million from $87.9 million a year ago.
American Eagle Outfitters (AEO) announced that earnings dropped to $51.3 million, or 26 cents a share, in the fiscal fourth quarter from $87 million, or 44 cents a share, in the same period last year. Revenue increased by 14 percent to $1.04 billion.
Williams-Sonoma (WSM) reported that it earned $122.6 million, or $1.17 per share for the fiscal quarter ended on January 29 versus $113.4 million, or $1.05 per share, in the same period last year. Revenue for quarter increased by 13 percent to $1.27 billion from $1.12 billion as online sales increased 18.1 percent.
Zumiez (ZUMZ) announced that fourth-quarter profit increased by 22 percent to 60 cents per share, beating analyst estimates by one cent. Sales increased by 18 percent to $183.9 million, ahead of estimates of $183 million.
Aeropostale (ARO) announced that fourth-quarter profit fell be nearly 67% to 32 cents per share, six cents below analyst estimates. Revenue fell by 3.7 percent to $808.4 million, beating estimates.
This is the 'Weekly Market Wrap' for Friday March 9, 2012. Please join us on Monday for the 'Week Ahead Market Report."
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