PIMCO for the People — Thursday’s IP Market Recap

by Kyle Woodley | March 1, 2012 4:40 pm


IPMarketRecap PIMCO for the People    Thursday's IP Market Recap[1]The biggest stock news of Thursday’s trading wasn’t relegated to just one or two companies, but a whole big bundle of ‘em.

Bill Gross joined the rapidly expanding world of exchange-traded funds, launching his PIMCO Total Return Fund (MUTF:PTTRX[2]) clone, the PIMCO Total Return ETF (NYSE:TRXT[3]). TRXT hopes to draw on the popularity and active management of the $245 billion-holding PTTRX while folding in the accessibility of ETFs.

The Total Return ETF’s first-day volume of more than half a million shares was a pretty good sign. Price movement was minimal, with an open at $100.10 and a close of $99.96.

Retailers also were a hot topic Thursday, with a few stocks jumping on strong same-store sales[4]. Gap (NYSE:GPS[5]) was one of the biggest winners, climbing more than 7% on a better-than-expected 4% increase in the metric. The Buckle (NYSE:BKE[6], +6.9%) also recorded strong gains. The Limited (NYSE:LTD[7]) and Target (NYSE:TGT[8]) were mostly flat despite positive same-store sales surprises.

Wal-Mart (NYSE:WMT[9]) also made headlines despite its absence from monthly sales reports — it increased its dividend 9% to $1.59 per share, though investors shrugged as WMT stock lost less than a percent.

Automakers as a whole enjoyed modest gains as the sector also reported strong February sales. Ford (NYSE:F[10]) was up 2.3%, Volkswagen (PINK:VLKAY[11]) climbed 2%, General Motors (NYSE:GM[12]) bumped up 1.5% and Honda (NYSE:HMC[13]) and Toyota (NYSE:TM[14]) each registered fractional gains.

Three Up

Three Down

Kyle Woodley[21] is the assistant editor of InvestorPlace.com[22]. As of this writing, he did not hold a position in any of the aforementioned securities. Check out recaps from previous trading days here[23].

Endnotes:
  1. [Image]: http://investorplace.com/hot-topics/investorplace-market-recap/
  2. PTTRX: http://studio-5.financialcontent.com/investplace/quote?Symbol=PTTRX
  3. TRXT: http://studio-5.financialcontent.com/investplace/quote?Symbol=TRXT
  4. strong same-store sales: http://investorplace.com/2012/03/retailing-same-store-sales-see-wide-gains/
  5. GPS: http://studio-5.financialcontent.com/investplace/quote?Symbol=GPS
  6. BKE: http://studio-5.financialcontent.com/investplace/quote?Symbol=BKE
  7. LTD: http://studio-5.financialcontent.com/investplace/quote?Symbol=LTD
  8. TGT: http://studio-5.financialcontent.com/investplace/quote?Symbol=TGT
  9. WMT: http://studio-5.financialcontent.com/investplace/quote?Symbol=WMT
  10. F: http://studio-5.financialcontent.com/investplace/quote?Symbol=F
  11. VLKAY: http://studio-5.financialcontent.com/investplace/quote?Symbol=VLKAY
  12. GM: http://studio-5.financialcontent.com/investplace/quote?Symbol=GM
  13. HMC: http://studio-5.financialcontent.com/investplace/quote?Symbol=HMC
  14. TM: http://studio-5.financialcontent.com/investplace/quote?Symbol=TM
  15. MWW: http://studio-5.financialcontent.com/investplace/quote?Symbol=MWW
  16. MDR: http://studio-5.financialcontent.com/investplace/quote?Symbol=MDR
  17. FIO: http://studio-5.financialcontent.com/investplace/quote?Symbol=FIO
  18. BID: http://studio-5.financialcontent.com/investplace/quote?Symbol=BID
  19. FSLR: http://studio-5.financialcontent.com/investplace/quote?Symbol=FSLR
  20. ADTN: http://studio-5.financialcontent.com/investplace/quote?Symbol=ADTN
  21. Kyle Woodley: http://investorplace.com/author/kyle-woodley/
  22. InvestorPlace.com: http://investorplace.com/
  23. here: http://investorplace.com/hot-topics/investorplace-market-recap/

Source URL: http://investorplace.com/2012/03/pimco-total-return-etf-trxt-pttrx-retail-gps-wmt/
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