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Weary Market Ignores Wal-Mart and Lowes
Nov 14, 4:57 PM EST |
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| Wal-Mart and Lowe's delivered better than expected earnings and Tyson Foods indicated weaker sales. Weather related trading drives oil higher. |
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| AFTER THE CLOSE: Agilent Technologies reported Q4 earnings of 5 cents vs. 15 cents a year ago. Comtex reports decline in earnings on flat sales. Bob Evans Farms reports earings of 37 cents vs. 30 cents a year ago on revenue growth of 4%. The company opened eight new restaurant in the quarter. Quintiles Transnationals reported earings of $27 million, lower than $34 million a year ago on one-time charges and benefits from repatriation and revenue rise of 19%. |
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Market Lacks Drivers
Nov 14, 1:34 PM EST |
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| Georgia-Pacific has agreed to be acquired by privately-held Koch Industries for $13.2 billion in cash. The stock is up more than 36%. |
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| U.S. stock averages have been flat in the morning session amid some caution ahead of key inflation and retail sales data later in the week, though solid results from Wal-Mart and Lowe''s Cos. soothed concerns over slowdown in consumer spending. Wal-Mart posted Q3 3.8% net income rise on 10% higher revenue, in line with estimates. Same-store sales rose 3.8%. Lowe''s Cos reported Q3 profit rise of 81 cents a share, beating estimates and 6% same-store sales growth. |
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Georgia-Pacific in $13 B Buyout
Nov 14, 11:41 AM EST |
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| Georgia-Pacific has agreed to be acquired by privately-held Koch Industries for $13.2 billion in cash. The stock is up more than 36%. |
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| Wal-Mart posted Q3 3.8% net income rise on 10% higher revenue, in line with estimates. Same-store sales rose 3.8%. Another retailer Lowe''s Cos reported Q3 profit rise of 81 cents a share, beating estimates and 6% same-store sales growth. Five Star Quality Care posted a Q3 loss of $5.64 a share vs. a profit of 10 cents a share last year. |
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Steady Start on Wal-Mart and Deal Talk
Nov 14, 8:42 AM EST |
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| Oil prices briefly crossed $58 on weather forecast, but then retreated to $57.95. Gold futures climbed in Europe. The dollar rose vs. the yen. |
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| Asian-Pacific markets closed mixed with the Nikkei closing down 0.3% on financial issues, while South Korean Kospi hit another high of 1,257,63, rising 0.1%. European stocks rebounded from early weakness to trade higher at mid-day on oil companies gains and deal talk. In earnings news, Wal-Mart posted Q3 3.8% net income rise on 10% higher revenue, in line with estimates. Same-store sales rose 3.8%. |
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