Nordstrom a Top Riser Among S&P 500 Stocks

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The S&P 500 Index followed its gains on Thursday with a further rise Friday morning session, up 1% to 1185.  Down less than 2% for the week so far, the S&P is off about 5.8% for the year.  This morning, advancers outnumbered decliners by about 10%.

Up about 10% was Goodyear Tire & Rubber (NYSE: GT) to around $13.80, rising on announcements of a new development that will greatly reduce rubber costs.  This has been a dismal week for Goodyear shares, falling more than 10%.  For the month, Goodyear is off by almost 30%.  The short float for Goodyear is 6.91%.

Fabrinet (NYSE: FN), a consumer goods company, rose more than 2% to about $14.88.   The company will report earnings on Monday. Its stock is off more than 25% for the month.

A strong profit report had Nordstrom (NYSE: JWN) up to $45.60, a 7% rise.  Nordstrom is one of many high-end retailers that have turned in very strong performances this earnings season.

DeVry (NYSE: DV), the for-profit college operator, was down almost 20% to $44, due to a drop in enrollment that offset an otherwise strong earnings report.  DeVry is down more than 10% for the week.  Relative volume this morning is more than 9 times the average.

Dropping about 4% to $20.60 was GameStop (NYSE: GME) as video games sales for July were down 26%, the worst month since 2006.  For the month, GameStop shares are down more than 10%.

Charles Schwab (NASDAQ: SCHW) continued to plummet, down more than 2.2% to$11.70. Schwab is down about 14% for the week, nearing its 52-week low.

Jonathan Yates does not own any of the stocks mentioned in this article.

 


Article printed from InvestorPlace Media, https://investorplace.com/2011/08/nordstrom-a-top-riser-among-sp-500-stocks/.

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