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Good Day For Luxury, Lipstick — Tuesday’s IP Market Recap

Michael Kors, Fossil and Avon among stocks rising on earnings

   
Good Day For Luxury, Lipstick — Tuesday’s IP Market Recap

IPMarketRecap Good Day For Luxury, Lipstick    Tuesday's IP Market RecapDespite a slew of positive earnings reports, the broader indices merely ambled along Tuesday in the lead-up to the evening’s State of the Union address.

The Dow Jones Industrial Average gained 0.34% to 14,018.70 and the S&P 500 ahead 0.16% to 1,519.43. The Nasdaq was unable to join the others in the black, however, falling 0.17% to 3,186.49.

Michael Kors (NYSE:KORS) shares jumped 8% after the company reported fourth-quarter earnings that were more than double the year-ago period’s figures and 65% better than analysts expected. KORS shares have now improved 160% since going public in December 2011, including 85% returns in the past year. Fellow luxury retailer Fossil (NASDAQ:FOSL) climbed 3% after also beating earnings and revenue forecasts on increased watch demand.

Also seeing a nice bump on the day was Avon (NYSE:AVP), whose shares rocketed more than 20% to lead all S&P 500 stocks after the beauty products company’s adjusted earnings of 37 cents impressed analysts, who were looking for 27 cents.

AOL (NYSE:AOL) continued its amazing rise, climbing another 5%, possibly on continued strength following Friday’s Q4 report.

Heading the other way was Coca-Cola (NYSE:KO), down nearly 3% — the worst loss for any Dow component — after beating earnings estimates by a mere penny and announcing revenues that slid under the bar.

Earnings notables for Wednesday include Deere (NYSE:DE), Cisco (NASDAQ:CSCO), and Comcast (NASDAQ:CMSCA).

Three Up

  • Hovnanian (NYSE:HOV): Up 10.9% (58 cents) to $5.92.
  • Monster Worldwide (NYSE:MWW): Up 6.3% (33 cents) to $5.61.
  • Buffalo Wild Wings (NASDAQ:BWLD): Up 5.4% ($4.16) to $81.07.

Three Down

  • Zynga (NASDAQ:ZNGA): Down 11.4% (42 cents) to $3.25.
  • 3-D Systems (NYSE:DDD): Down 6.4% ($4.33) to $63.07.
  • Facebook (NASDAQ:FB): Down 3.2% (89 cents) to $27.37.

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.


Article printed from InvestorPlace Media, http://investorplace.com/2013/02/good-day-for-luxury-lipstick-tuesdays-ip-market-recap-kors-fosl-avp/.

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