Good Day For Luxury, Lipstick — Tuesday’s IP Market Recap
by Marc Bastow | February 12, 2013 5:02 pm
[1]Despite 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[2]) 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[3]) 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[4]), 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[5]) continued its amazing rise[6], climbing another 5%, possibly on continued strength following Friday’s Q4 report.
Heading the other way was Coca-Cola (NYSE:KO[7]), 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[8]), Cisco (NASDAQ:CSCO[9]), and Comcast (NASDAQ:CMSCA[10]).
Three Up
- Hovnanian (NYSE:HOV[11]): Up 10.9% (58 cents) to $5.92.
- Monster Worldwide (NYSE:MWW[12]): Up 6.3% (33 cents) to $5.61.
- Buffalo Wild Wings (NASDAQ:BWLD[13]): Up 5.4% ($4.16) to $81.07.
Three Down
- Zynga (NASDAQ:ZNGA[14]): Down 11.4% (42 cents) to $3.25.
- 3-D Systems (NYSE:DDD[15]): Down 6.4% ($4.33) to $63.07.
- Facebook (NASDAQ:FB[16]): 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.
- [Image]: https://www.investorplace.com/hot-topics/investorplace-market-recap/
- KORS: http://studio-5.financialcontent.com/investplace/quote?Symbol=KORS
- FOSL: http://studio-5.financialcontent.com/investplace/quote?Symbol=FOSL
- AVP: http://studio-5.financialcontent.com/investplace/quote?Symbol=AVP
- AOL: http://studio-5.financialcontent.com/investplace/quote?Symbol=AOL
- its amazing rise: https://investorplace.com/2013/02/aol-is-getting-it-done/
- KO: http://studio-5.financialcontent.com/investplace/quote?Symbol=KO
- DE: http://studio-5.financialcontent.com/investplace/quote?Symbol=DE
- CSCO: http://studio-5.financialcontent.com/investplace/quote?Symbol=CSCO
- CMSCA: http://studio-5.financialcontent.com/investplace/quote?Symbol=CMSCA
- HOV: http://studio-5.financialcontent.com/investplace/quote?Symbol=HOV
- MWW: http://studio-5.financialcontent.com/investplace/quote?Symbol=MWW
- BWLD: http://studio-5.financialcontent.com/investplace/quote?Symbol=BWLD
- ZNGA: http://studio-5.financialcontent.com/investplace/quote?Symbol=ZNGA
- DDD: http://studio-5.financialcontent.com/investplace/quote?Symbol=DDD
- FB: http://studio-5.financialcontent.com/investplace/quote?Symbol=FB
Source URL: https://investorplace.com/2013/02/good-day-for-luxury-lipstick-tuesdays-ip-market-recap-kors-fosl-avp/