Weekly Market Wrap: June 15, 2012
Friday, June 15, 5:32 PM ET

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Hi. I'm Sayoko Murase. Welcome to the 'Weekly Market Wrap' for Friday June 15, 2012.

The S&P 500, the Dow Jones Industrial Average, and the Nasdaq were in all positive territory for the week in late Friday trading.

Crude oil futures are slightly lower this week, trading around $83.99 per barrel on Friday afternoon.

Gold futures are higher this week, trading at $1627.46 an ounce in afternoon trading.

In notable economic news this week, weekly unemployment benefit applications increased to a seasonally adjusted 386,000 according to the Labor Department. The four-week average rose for the third straight week to 382,000, the highest in six weeks.

In corporate news this week, luxury goods maker Michael Kors (NYSE:KORS) announced that it earned $43.6 million, or 22 cents per share in the last fiscal quarter versus a profit of $17.4 million, or 10 cents per share in the same period last year. Excluding one-time items, the company earned 21 cents per share. Revenue increased by 58% to $380 million, beating estimates of $360.6 million. Retail net sales increased by 80.3% to $172.2 million and same-store sales increased by 36.1%.

Kroger (NYSE:KR) announced a higher quarterly profit on Thursday. The company earned $439.4 million, or 78 cents per share, for the first quarter versus $432.3 million, or 71 cents per share, in the same period last year. Sales, including fuel, rose 5.8 percent to $29.1 billion, meeting analyst forecasts.

Pier 1 (NYSE:PIR) Imports annouced that profits increased by 26 percent increase in first-quarter profit. The company earned $17.8 million, versus $14.1 million in the same period last year. Sales increased by 7.9 percent to $361.1 million. The company expects full-year earnings to be between $1.08 to $1.14 per share.

Winnebago (NYSE:WGO) announced that it earned $3.9 million in its latest quarter, or 13 cents a share, versus $1.2 million, or 4 cents a share in the same period last year, beating estimates. Revenuewas up 14.9% to $155.7 million versus $135.6 million a year ago, but missed estimates of $164.7 million.

Apple (NASDAQ:AAPL) did not announce a new iPhone model as expected that the Worldwide Developers Conference in San Francisco, but did announce new features to its existing products, notably the introduction of a power moreful MacBook Air.

This is the 'Weekly Market Wrap' for Friday June 15, 2012. Please join us on Monday for the 'Week Ahead Market Report."