Weekly Market Wrap: June 8, 2012
Friday, June 8, 5:13 PM ET

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Hi. I'm Kristin Bianco. Welcome to the 'Weekly Market Wrap' for Friday June 8, 2012.

The S&P 500, the Dow Jones Industrial Average, and the Nasdaq were all higher for the week.

Crude oil futures are about even this week, trading around $83.28 per barrel on Friday afternoon.

Gold futures are lower this week, trading at $1592.55 an ounce in afternoon trading.

In notable economic news this week, the U.S. trade deficit narrowed in April as a drop in imports outweighed exports' first decline in five months, though the trade gap was wider than analysts expected.

In corporate news this week, Dollar General (NYSE:DG) announced that it earned $213.4 million, or 63 cents per share, for its most recent fiscal quarter, up from $157 million, or 45 cents per share, in the same period last year. Revenue rose by 13 percent to $3.9 billion. Analysts expected earnings of 60 cents per share on revenue of $3.83 million. The company operates 10,052 stores across the country, up from 9,496 stores last year.

Brown-Forman (NYSE:BF.A) announced that net income fell by 37 percent versus the same period last year, when the company realized a gain on its sale of Fetzer Vineyards. The company earned $104.5 million, or 73 cents per share, versus $165.4 million, or $1.13 per share, in the same period last year. Analysts expected earnings of 76 cents per share. Revenue increased 1 percent to $801.3 million from $791.3 million, beating estimates of $769.6 million.

Bob Evans Farms (NASDAQ:BOBE) announced that fourth-quarter earnings increased by 20 percent from the same period last year. It earned $22 million, or 76 cents per share, in the three months ended April 27 versus $18.4 million, or 60 cents per share, in the same period last year. Excluding one-time items, the company said fourth-quarter earnings were 80 cents per share. Revenue was $413.5 million, down 1 percent from $418.7 million in fiscal 2011. Analysts expected earnings of 74 cents per share on revenue of $421 million.

Taco Bell parent Yum! Brands (NYSE:YUM) announced it will offer some new, more upscale menu items that may allow it to compete with other chains like Chipolte Mexican Grill (NYSE:CMG). The new Doritos Locos tacos introduced in March, have been a huge hit, and sales have exceeded analysts estimates.

Lululemon Athletica (NASDAQ:LULU) announced that profit in the quarter ended April 29 rose to $46.6 million, or 32 cents per share, from $33.4 million, or 23 cents per share, in the same period last year. Analysts expected a profit of 30 cents per share. Revenue increased by 53 percent to $285.7 million from $186.8 million. Analysts expected revenue of $274 million. Revenue in stores open at least a year increased by 25 percent.

This is the 'Weekly Market Wrap' for Friday June 8, 2012. Please join us on Monday for the 'Week Ahead Market Report."