S&P 500 Ends Q1 at All-Time Highs — Thursday’s IP Market Recap
by Marc Bastow | March 28, 2013 5:51 pm
[1]The first quarter’s last day of trading saw the S&P 500 finally reset its all-time high thanks to a broad rally that swept across all the major U.S. indices — against lackluster PMI and weekly jobless data, no less.
The S&P 500’s gained 0.41% to set a new mark at 1569.19, the Dow Jones Industrial Average also hit yet another new high, climbing 0.36% to 14578.54, and the Nasdaq bumped up 0.34% to close at 3267.52.
In corporate news, shares of BlackBerry (NASDAQ:BBRY[2]) rose more than 3% after posting a surprise profit[3] and despite missing revenue estimates, and announcing it has sold 1 million Z10 devices last quarter.
Deckers Outdoors (NASDAQ:DECK[4]) jumped up more than 6% on an upgrade from Jefferies Group analysts, which included a new price target of $100 per share — more than 90% higher than Wednesday’s closing price.
Pinnacle Foods (NYSE:PF[5]) — owner of both the Duncan Hines and Birds Eye brands — hit the public markets Thursday, pricing at $20 and finishing up another 11% from there.
Lastly, shares of online auction site eBay (NASDAQ:EBAY[6]) climbed 4.13% after President Devin Wenig announced[7] higher-than-expected growth targets for 2015. The company expects $110 billion of sales volume that year, which is $9 billion ahead of analyst predictions.
Three Up
- Repros Therapeutics (NASDAQ:RPRX[8]): Up 76.4% ($6.97) to $16.10.
- Vringo (AMEX:VRNG[9]): Up 15.3% (42 cents) to $3.17.
- GT Advanced Technologies (NASDAQ:GTAT[10]): Up 10% (30 cents) to $3.30.
Three Down
- Southcross Energy (NYSE:SXE[11]): Down 21.4% ($5.50) to $20.25.
- Two Harbors (NYSE:TWO[12]): Down 9.2% ($1.27) to $12.61.
- Novagold Resources (AMEX:NG[13]): Down 5.5% (21 cents) to $3.63.
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://investorplace.com/wp-content/uploads/2011/11/IPMarketRecap.gif
- BBRY: http://studio-5.financialcontent.com/investplace/quote?Symbol=BBRY
- a surprise profit: https://investorplace.com/2013/03/blackberry-gets-a-little-mojo/
- DECK: http://studio-5.financialcontent.com/investplace/quote?Symbol=DECK
- PF: http://studio-5.financialcontent.com/investplace/quote?Symbol=PF
- EBAY: http://studio-5.financialcontent.com/investplace/quote?Symbol=EBAY
- announced: http://www.reuters.com/article/2013/03/28/us-ebay-ceo-idUSBRE92R0LO20130328
- RPRX: http://studio-5.financialcontent.com/investplace/quote?Symbol=RPRX
- VRNG: http://studio-5.financialcontent.com/investplace/quote?Symbol=VRNG
- GTAT: http://studio-5.financialcontent.com/investplace/quote?Symbol=GTAT
- SXE: http://studio-5.financialcontent.com/investplace/quote?Symbol=SXE
- TWO: http://studio-5.financialcontent.com/investplace/quote?Symbol=TWO
- NG: http://studio-5.financialcontent.com/investplace/quote?Symbol=NG
Source URL: https://investorplace.com/2013/03/sp-500-ends-q1-at-all-time-highs-thursdays-ip-market-recap/