Big Day for Best Buy, Facebook — Thursday’s IP Market Report
by Marc Bastow | April 4, 2013 4:40 pm
[1]Central 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[2] 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[3]) 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[4]) products — tabbed as Samsung Experience shops — at roughly 1,400 U.S. stores.
Facebook (NASDAQ:FB[5]) moves up more than 3% after unveiling “Facebook Home,” an integrated app[6] for Google‘s (NASDAQ:GOOG[7]) Android-based phones.
Lululemon (NASDAQ:LULU[8]) announced chief product officer Sheree Waterson was leaving the company effective April 15 in the wake of last month’s see-through yoga pants[9] fiasco. LULU shares rose just more than 2%.
Lastly, Carnival (NYSE:CCL[10]) dropped just under 2% after the cruise company’s ship Triumph broke free of its dock[11] in Mobile, Ala.
Three Up
- Jos. A. Bank (NASDAQ:JOSB[12]): Up 8% ($3.21) to $43.49.
- Cirrus Logic (NASDAQ:CRUS[13]): Up 5.9% ($1.19) to $21.47.
- Goodrich Petroleum (NYSE:GDP[14]): Up 4.4% (62 cents) to $14.83.
Three Down
- Teradata (NYSE:TDC[15]): Down 7.5% ($4.18) to $51.89.
- Astex Pharmaceutical (NASDAQ:ASTX[16]): Down 6.1% (34 cents) to $5.23.
- Enerplus (NYSE:ERF[17]): Down 3.4% (47 cents) to $13.44.
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
- disappointing initial jobless claims: https://investorplace.com/2013/04/jobs-growth-disappoints-for-march/
- BBY: http://studio-5.financialcontent.com/investplace/quote?Symbol=BBY
- SSNLF: http://studio-5.financialcontent.com/investplace/quote?Symbol=SSNLF
- FB: http://studio-5.financialcontent.com/investplace/quote?Symbol=FB
- an integrated app: https://investorplace.com/ipo-playbook/facebook-phone-is-dead-long-live-facebook-home/
- GOOG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GOOG
- LULU: http://studio-5.financialcontent.com/investplace/quote?Symbol=LULU
- see-through yoga pants: https://investorplace.com/2013/03/no-need-to-show-your-tush-for-yoga-pants-refund/
- CCL: http://studio-5.financialcontent.com/investplace/quote?Symbol=CCL
- broke free of its dock: https://investorplace.com/2013/04/carnival-cruise-ship-breaks-free/
- JOSB: http://studio-5.financialcontent.com/investplace/quote?Symbol=JOSB
- CRUS: http://studio-5.financialcontent.com/investplace/quote?Symbol=CRUS
- GDP: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDP
- TDC: http://studio-5.financialcontent.com/investplace/quote?Symbol=TDC
- ASTX: http://studio-5.financialcontent.com/investplace/quote?Symbol=ASTX
- ERF: http://studio-5.financialcontent.com/investplace/quote?Symbol=ERF
Source URL: https://investorplace.com/2013/04/thursdays-ip-market-report-bby-fb-lulu-ccl-josb/