Stocks Gain on Jobs, Homes — Thursday’s IP Market Recap
by Marc Bastow | December 20, 2012 4:31 pm
[1]Optimism once again crept into the conversation on Thursday as the markets saw some positive economic data and no further Fiscal Cliff damage.
The S&P 500 led the way with a 0.55% gain to finish at 1,443.69, while the Dow rose 0.45% to 13,311.72 and the Nasdaq trailed with a rise of 0.2% to 3,050.39.
Congress was expected to vote some time on Thursday evening on John Boehner’s Plan B[2], while the government released its final estimate of third-quarter GDP growth. It came it at a 3.1% annual rate — much better than the 1.3% rate in the second quarter.
Additionally, jobless claims rose by 17,000 to 361,000 in the latest week and new home sales rose 5.9% to the highest sales rate since November 2009.
In corporate news, shares of NYSE Euronext (NSYE:NYX[3]) surged 34% after the operator of the New York Stock Exchange agreed to be bought[4] by IntercontinentalExchange (NSYE:ICE[5]) for $8.2 billion in cash and stock.
Used car retailer CarMax (NYSE:KMX[6]) reported strong quarterly results, sending shares ahead nearly 9% on the day.
Office products and furniture manufacturer Steelcase (NYSE:SCS[7]) rose over 12% on the day after posting revenues and earnings in line with company estimates and issuing guidance within Street estimates.
Bed Bath & Beyond (NASDAQ:BBBY[8]) shares went the other way, dropping almost 7% after the retailer offered weak guidance after the bell on Wednesday.
Management and technology consulting firm Accenture (NYSE:ACN[9]) also took a tumble on disappointing earnings, which represented the third straight quarterly decline. Shares dropped just under 2% for the day.
Three Up
- Jabil Circuit (NYSE:JBL[10]): Up 7.43% ($1.38) to $19.95
- Hercules (NASDAQ:HERO[11]): Up 5.35% (31 cents) to $6.10
- Stillwater Mining (NYSE:SWC[12]): Up 3.42% (42 cents) to $12.70
Three Down
- Herbalife (NYSE:HLF[13]): Down 9.75% ($3.64) to $33.70
- Office Depot (NYSE:ODP[14]): down 5.06% (18 cents) to $3.38
- Advanced Micro Devices (NYSE:AMD[15]): Down 4.76% (12 cents) to $2.40
Marc Bastow is an Assistant Editor at InvestorPlace.com. As of this writing he did not hold a position in any of the aforementioned securities.
- [Image]: https://www.investorplace.com/hot-topics/investorplace-market-recap/
- Plan B: http://www.cnn.com/2012/12/20/politics/fiscal-cliff/index.html?hpt=hp_t3&iid=EL
- NYX: http://studio-5.financialcontent.com/investplace/quote?Symbol=NYX
- agreed to be bought: https://investorplace.com/2012/12/nyse-finds-an-8-2-billion-escape/
- ICE: http://studio-5.financialcontent.com/investplace/quote?Symbol=ICE
- KMX: http://studio-5.financialcontent.com/investplace/quote?Symbol=KMX
- SCS: http://studio-5.financialcontent.com/investplace/quote?Symbol=SCS
- BBBY: http://studio-5.financialcontent.com/investplace/quote?Symbol=BBBY
- ACN: http://studio-5.financialcontent.com/investplace/quote?Symbol=ACN
- JBL: http://studio-5.financialcontent.com/investplace/quote?Symbol=JBL
- HERO: http://studio-5.financialcontent.com/investplace/quote?Symbol=HERO
- SWC: http://studio-5.financialcontent.com/investplace/quote?Symbol=SWC
- HLF: http://studio-5.financialcontent.com/investplace/quote?Symbol=HLF
- ODP: http://studio-5.financialcontent.com/investplace/quote?Symbol=ODP
- AMD: http://studio-5.financialcontent.com/investplace/quote?Symbol=AMD
Source URL: https://investorplace.com/2012/12/thursdays-ip-market-recap-nyx-ice-kmx-bbby-acn/