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Weekly Market Wrap: November 16, 2012
Friday, November 16, 5:06 PM ET

This forty sixth trading week of 2012 comes to a close with investors breathing a sigh of relief as congressional leaders express confidence they can reach a deal with President Obama to prevent a new recession and head off the fiscal cliff.

Hi. I'm Tracey Fitzpatrck. Welcome to the 'Weekly Market Wrap' for November 16, 2012.

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

Crude oil futures are higher this week, trading around $86.60 per barrel on Friday afternoon.

Gold futures are lower this week, trading at $1,713.15 an ounce in afternoon trading.

In notable economic news this week, the Labor Department announced on Thursday that the consumer price index rose by a seasonally adjusted 0.1 percent in October, down from sharp gains of 0.6 percent during the two months prior due to a spike in gas prices. Gas prices fell by 0.6 percent last month, while food prices rose by 0.2 percent. Excluding volatile food and energy prices, the CPI increased by 0.2 percent last month.

In corporate news, Dick's Sporting Goods (NYSE:DKS) announced that it earned $50.1 million, or 40 cents per share, on revenue of $1.31 billion during the fiscal third quarter, representing a 21 percent earnings increase and an 11 percent revenue increase.

Shares are higher by about 5.5 percent.

TJX (NYSE:TJX) announced a stronger-than-expected third-quarter and raised its forecast for the full year. The company earned $461.5 million, or 62 cents per share, versus $406.5 million, or 53 cents, in the same period last year. Results beat estimates by one cent. Revenue increased by 11% to $6.4 billion from $5.79 bill in the same period last year, also beating eastimates of $6.3 billion. Same store sales increased by seven percent.

Michael Kors Holdings (NYSE:KORS) announced that fiscal second-quarter net income more than tripled. The retailer said that it earned $97.8 million, or 49 cents per share, up from $31.6 million, or 22 cents per share, in the same period last year. Revenue increased by 74 percent to $532.9 million from $305.5 million. Analysts had expected earnings of 40 cents per share on $519.9 million in revenue.

Staples (NASDAQ:SPLS) announced that earnings for the third quarter increased by 10.4% to $3.62, beating analyst estimates by one cent. Revenue fell by 3.3% to $6.35 billion, while analysts had expected revenue of $6.45 billion.

Target (NYSE:TGT) announced that it earned $637 million, or 96 cents per share, up 15 percent from $555 million, or 82 cents per share, in the same period last year. Excluding certain items, earnings were 90 cents per share, beating estimates of 78 cents per share. Revenue was higher by about three percent to $16.6 billion, below forecasts of $16.91 billion. Same store sales increased by 2.9 percent, below the 4.3 percent increase reported last year.

This is the 'Weekly Market Wrap' for Friday November 16, 2012. Please join us on Monday for the 'Week Ahead Market Report.

For MarketNewsVideo.com, I'm Tracey Fitzpatrick.

Weekly Market Wrap: November 16, 2012 picture
Friday 4/28 Insider Buying Report: ADX, WTFCFriday 4/28 Insider Buying Report: ADX, WTFC
Related symbols: ADX,WTFC
Thursday 4/27 Insider Buying Report: MAT, GNMXThursday 4/27 Insider Buying Report: MAT, GNMX
Related symbols: MAT,GNMX
Wednesday 4/26 Insider Buying Report: CSX, GEWednesday 4/26 Insider Buying Report: CSX, GE
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Nasdaq 100 Movers: BIDU, CERNNasdaq 100 Movers: BIDU, CERN
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S&P 500 Movers: SYF, CERNS&P 500 Movers: SYF, CERN
Related symbols: SYF,CERN
Dow Movers: INTC, CVXDow Movers: INTC, CVX
Related symbols: INTC,CVX
S&P 500 Analyst Moves: ALXNS&P 500 Analyst Moves: ALXN
Related symbols: ALXN
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S&P 500 Analyst Moves: ORCLS&P 500 Analyst Moves: ORCL
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S&P 500 Analyst Moves: FTIS&P 500 Analyst Moves: FTI
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Friday Sector Laggards: Publishing, Apparel StoresFriday Sector Laggards: Publishing, Apparel Stores
Related symbols: TIME,MDP,VNCE,DXLG
Friday Sector Leaders: Precious Metals, Non-Precious Metals & Non-Metallic Mining StocksFriday Sector Leaders: Precious Metals, Non-Precious Metals & Non-Metallic Mining Stocks
Related symbols: AEM,GPL,ZEUS,CSTM
Thursday Sector Laggards: Oil & Gas Exploration & Production, Precious MetalsThursday Sector Laggards: Oil & Gas Exploration & Production, Precious Metals
Related symbols: NBR,TRCH,NGD,GG
Friday's ETF with Unusual Volume: PXLVFriday's ETF with Unusual Volume: PXLV
Related symbols: PXLV,BAC,F,TRI,COF
Friday's ETF Movers: GDXJ, IYZFriday's ETF Movers: GDXJ, IYZ
Related symbols: GPL,EXK,NIHD,SPOK,IYZ,GDXJ
XME, ULE: Big ETF OutflowsXME, ULE: Big ETF Outflows
Related symbols: XME,ULE,CDE,ATI
Daily Dividend Report: IMO, PFG, SBUX, GM, AFL, FIS, KDaily Dividend Report: IMO, PFG, SBUX, GM, AFL, FIS, K
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Daily Dividend Report: XOM, JNJ, SU, XLNX, PFE, CVX, KODaily Dividend Report: XOM, JNJ, SU, XLNX, PFE, CVX, KO
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Daily Dividend Report: PCAR, GWW, MET, ANTM, MPCDaily Dividend Report: PCAR, GWW, MET, ANTM, MPC
Related symbols: PCAR,GWW,MET,ANTM,MPC
Fed Tapers Bond BuyingFed Tapers Bond Buying
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Symbol Cloud:   ADMP   ALXN   AMTD   ATI   AWK   AXP   BA   BHI   BIDU   BMRN   BRK.B   BRO   BZH   CCI   CERN   CGI   CIG   COL   CONN   CREE   CRR   CSX   CVX   DAL   DD   DDG   DFS   DXLG   EEP   ENIA   ESRX   GDX   GDXJ   GE   GNMX   GPL   GS   IBM   INCY   INTC   ISRG   ITB   JNJ   JPM   KALU   KNOP   LRCX   MAT   MET   MSFT   MU   NKE   NLSN   NRG   NSRGY   NTES   NVO   NWY   OIH   OILU   PFE   PLG   PPP   PTEN   R   SAND   SBLK   SHW   SLCA   STX   SU   SXC   TAP   TDC   TECK   TRI   TRX   UNH   VNCE   VOXX   VZ   WST   WWD   XBI   XLF   XLNX   XME   XPP   ZEUS
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Weekly Market Wrap: November 16, 2012 | Market News Video | Copyright © 2008 - 2017, All Rights Reserved

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