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 (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.
X
Wait! Don't leave yet.
Want to receive our latest research absolutely free?
⤹
Click the button below for your complimentary copy of Your Early Retirement Portfolio: Dividends Up to 8.7%—Every Month—Forever.
You'll discover the details on 4 stocks and funds that pay you massive dividends as high as 8.7%.
This is a wonderful investment site, period. 
Free Email Alerts By Stock:
Launch related slideshow:
Friday 5/10 Insider Buying Report: WSC
Friday 5/10 Insider Buying Report: DIS, TRUP
Thursday 5/9 Insider Buying Report: TRS, AXS
Nasdaq 100 Movers: MRNA, CHTR
S&P 500 Movers: AKAM, GEN
Dow Movers: NKE, MMM
S&P 500 Analyst Moves: EMR
S&P 500 Analyst Moves: TGT
Dow Analyst Moves: KO
Friday Sector Laggards: Paper & Forest Products, Television & Radio Stocks
Friday Sector Leaders: Construction, Advertising Stocks
Thursday Sector Laggards: Paper & Forest Products, Education & Training Services
Friday's ETF with Unusual Volume: FISR
Friday's ETF Movers: SOXX, LIT
DBEF, BKCI: Big ETF Outflows
Daily Dividend Report: SLF,MUSA,CW,AA,UNP
Daily Dividend Report: CPK,PAG,AME,PSA,SYK
Daily Dividend Report: EXPD,DHR,CAH,PRU,SU
Fed Tapers Bond Buying
Nonfarm payroll Employment Up 175,000 in February
Initial Claims Decrease, Productivity 1.8% Annual Rate Increase in Q4
Weekly Market Wrap: August 14, 2015
Weekly Market Wrap: August 7, 2015
Weekly Market Wrap: July 31, 2015
Week Ahead Market Report: June 8, 2015
Week Ahead Market Report: May 18, 2015
Week Ahead Market Report: May 4, 2015