S&P 500 Ends Q1 at All-Time Highs — Thursday’s IP Market Recap

by Marc Bastow | March 28, 2013 5:51 pm

S&P 500 Ends Q1 at All-Time Highs — Thursday’s IP Market Recap

IPMarketRecap S&P 500 Ends Q1 at All Time Highs    Thursdays IP Market Recap[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

Three Down

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.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/11/IPMarketRecap.gif
  2. BBRY: http://studio-5.financialcontent.com/investplace/quote?Symbol=BBRY
  3. a surprise profit: http://investorplace.com/2013/03/blackberry-gets-a-little-mojo/
  4. DECK: http://studio-5.financialcontent.com/investplace/quote?Symbol=DECK
  5. PF: http://studio-5.financialcontent.com/investplace/quote?Symbol=PF
  6. EBAY: http://studio-5.financialcontent.com/investplace/quote?Symbol=EBAY
  7. announced: http://www.reuters.com/article/2013/03/28/us-ebay-ceo-idUSBRE92R0LO20130328
  8. RPRX: http://studio-5.financialcontent.com/investplace/quote?Symbol=RPRX
  9. VRNG: http://studio-5.financialcontent.com/investplace/quote?Symbol=VRNG
  10. GTAT: http://studio-5.financialcontent.com/investplace/quote?Symbol=GTAT
  11. SXE: http://studio-5.financialcontent.com/investplace/quote?Symbol=SXE
  12. TWO: http://studio-5.financialcontent.com/investplace/quote?Symbol=TWO
  13. NG: http://studio-5.financialcontent.com/investplace/quote?Symbol=NG

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