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Big Day for Best Buy, Facebook — Thursday’s IP Market Report

Major indices stage a late rally to finish in the black


InvestorPlace Market RecapCentral banking news from Japan, where the government promised to stimulate the economy, and Europe, where bankers left rates unchanged, worked in concert with disappointing initial jobless claims in the U.S to get the markets off to a slow start. However, strong corporate news helped to perk investors up and put the major indices in the black by day’s end.

The S&P 500 led the way ahead, rising 0.4% to close at 1559.98, with the Dow Jones Industrial Average close behind, finishing up 0.38% at 14606.11. The Nasdaq staged a late rally to close up 0.2% at 3224.90.

Best Buy (NYSE:BBY) surged more than 16% to lead the S&P 500 after the retailer announced that its locations will feature mini boutique stores selling Samsung (PINK:SSNLF) products — tabbed as Samsung Experience shops — at roughly 1,400 U.S. stores.

Facebook (NASDAQ:FB) moves up more than 3% after unveiling “Facebook Home,” an integrated app for Google‘s (NASDAQ:GOOG) Android-based phones.

Lululemon (NASDAQ:LULU) announced chief product officer Sheree Waterson was leaving the company effective April 15 in the wake of last month’s see-through yoga pants fiasco. LULU shares rose just more than 2%.

Lastly, Carnival (NYSE:CCL) dropped just under 2% after the cruise company’s ship Triumph broke free of its dock in Mobile, Ala.

Three Up

  • Jos. A. Bank (NASDAQ:JOSB): Up 8% ($3.21) to $43.49.
  • Cirrus Logic (NASDAQ:CRUS): Up 5.9% ($1.19) to $21.47.
  • Goodrich Petroleum (NYSE:GDP): Up 4.4% (62 cents) to $14.83.

Three Down

  • Teradata (NYSE:TDC): Down 7.5% ($4.18) to $51.89.
  • Astex Pharmaceutical (NASDAQ:ASTX): Down 6.1% (34 cents) to $5.23.
  • Enerplus (NYSE:ERF): Down 3.4% (47 cents) to $13.44.

Marc Bastow is an Assistant Editor at As of this writing he did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media,

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