PIMCO for the People — Thursday’s IP Market Recap
by Kyle Woodley | March 1, 2012 4:40 pm
[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
- Monster Worldwide (NYSE:MWW[15]): Up 15.1% ($1.05) to $7.99.
- McDermott International (NYSE:MDR[16]): Up 13.9% ($1.81) to $14.87.
- Fusion-io (NYSE:FIO[17]): Up 8.8% ($2.40) to $29.70.
Three Down
- Sotheby’s Holdings (NYSE:BID[18]): Down 9.2% ($3.60) to $35.74.
- First Solar (NASDAQ:FSLR[19]): Down 5.9% ($1.89) to $30.41.
- AdTran (NASDAQ:ADTN[20]): Down 5.5% ($1.93) to $33.32.
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:
- [Image]: https://investorplace.com/hot-topics/investorplace-market-recap/
- PTTRX: http://studio-5.financialcontent.com/investplace/quote?Symbol=PTTRX
- TRXT: http://studio-5.financialcontent.com/investplace/quote?Symbol=TRXT
- strong same-store sales: https://investorplace.com/2012/03/retailing-same-store-sales-see-wide-gains/
- GPS: http://studio-5.financialcontent.com/investplace/quote?Symbol=GPS
- BKE: http://studio-5.financialcontent.com/investplace/quote?Symbol=BKE
- LTD: http://studio-5.financialcontent.com/investplace/quote?Symbol=LTD
- TGT: http://studio-5.financialcontent.com/investplace/quote?Symbol=TGT
- WMT: http://studio-5.financialcontent.com/investplace/quote?Symbol=WMT
- F: http://studio-5.financialcontent.com/investplace/quote?Symbol=F
- VLKAY: http://studio-5.financialcontent.com/investplace/quote?Symbol=VLKAY
- GM: http://studio-5.financialcontent.com/investplace/quote?Symbol=GM
- HMC: http://studio-5.financialcontent.com/investplace/quote?Symbol=HMC
- TM: http://studio-5.financialcontent.com/investplace/quote?Symbol=TM
- MWW: http://studio-5.financialcontent.com/investplace/quote?Symbol=MWW
- MDR: http://studio-5.financialcontent.com/investplace/quote?Symbol=MDR
- FIO: http://studio-5.financialcontent.com/investplace/quote?Symbol=FIO
- BID: http://studio-5.financialcontent.com/investplace/quote?Symbol=BID
- FSLR: http://studio-5.financialcontent.com/investplace/quote?Symbol=FSLR
- ADTN: http://studio-5.financialcontent.com/investplace/quote?Symbol=ADTN
- Kyle Woodley: https://investorplace.com/author/kyle-woodley/
- InvestorPlace.com: https://investorplace.com/
- here: https://investorplace.com/hot-topics/investorplace-market-recap/
Source URL: https://investorplace.com/2012/03/pimco-total-return-etf-trxt-pttrx-retail-gps-wmt/