This twentieth trading week of 2012 comes to a close with investors assessing the deteriorating situation in Greece and closely monitoring the IPO of Facebook (FB).
Hi. I'm Sayoko Murase. Welcome to the 'Weekly Market Wrap' for Friday May 18, 2012.
The S&P 500, the Dow Jones Industrial Average, and the Nasdaq were all sharply lower for the week.
Crude oil futures are lower this week, falling 4.3% to around $91.66 per barrel.
Gold futures are higher this week, trading at $1589.95 an ounce in afternoon trading.
In notable economic news this week, initial claims for state unemployment benefits held steady at a seasonally adjusted 370,000 according to the Labor Department. Last week's figure was revised upwards to 370,000 from the previously reported 367,000. Analysts expected claims to drop to 365,000 last week.
In corporate news this week, Saks (NYSE:SKS) announced that it earned $32.1 million, or 18 cents per share, versus $28.4 million, or 16 cents per share, in the same period last year. Revenue increased by 3.8 percent to $753.6 million, below expectations of $761.7 million.
Dick's Sporting Goods (NYSE:DKS) announced that first quarter net income increased by 53 percent to $57.2 million, or 45 cents per share, versus $37.5 million, or 30 cents per share, in the same period last year. Revenue increased by 15 percent to $1.28 billion, beating estimates of $1.23 billion.
Chico's (NYSE:CHS) announced that it earned $53.6 million, or 32 cents per share in its most recent fiscal quarter, versus $45.9 million, or 26 cents per share, in the same period last year, beating analyst estimates of 30 cents per share. Revenue increased by 21 percent to $650.8 million, beating estimates of $628.1 million. The company's revenue was $537.2 million in the same period last year.
Target (NYSE:TGT) announced that it earned $697 million, or $1.04 per share, versus $689 million, or 99 cents per share, in the same period last year. Revenue increased by 5.9 percent to $16.86 billion. Analysts had expected earnings of $1.02 per share on revenue of $16.83 billion.
This is the 'Weekly Market Wrap' for Friday May 18, 2012. Please join us on Monday for the 'Week Ahead Market Report."
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.
ValueForum is like having a thousand set of eyes
Launch related slideshow:
Tuesday 6/18 Insider Buying Report: CTSH
Tuesday 6/18 Insider Buying Report: PAY, XLS
Monday 6/17 Insider Buying Report: VSTM, ACG
Daily Wrap: June 18, 2013
Chevron Signs Exploration Deal With Kurdish Government
Sprint Aims to Block Clearwire Deal in Court
Analyst Moves: PXD, KR, HAIN
New Analyst Coverage: LNKD, Q, TMUS
Analyst Moves: TEX, WMB, WETF
Tuesday Sector Leaders: Agriculture & Farm Products, Entertainment
Tuesday Sector Laggards: Precious Metals, Homebuilders
Monday Sector Leaders: Vehicle Manufacturers, General Contractors & Builders
Tuesday's ETF with Unusual Volume: IWX
Tuesday's ETF Movers: AXSL, GDXJ
EWH, UGE: Big ETF Outflows
Daily Dividend Report: FITB, IVR, AMTG, SUI, USB
Daily Dividend Report: SRE, LLY, AMAT, RL, PETM
Daily Dividend Report: CHK, SRC, KCAP, ROP, CPT
Jobless Claims Fall to New Five Year Low
US Employers Add 175k in May
Jobless Claims Fall By 11,000
Weekly Market Wrap: June 14, 2013
Weekly Market Wrap: June 7, 2013
Weekly Market Wrap: May 31, 2013
Week Ahead Market Report: June 17, 2013
Week Ahead Market Report: June 10, 2013
Week Ahead Market Report: June 3, 2013