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

by Marc Bastow | April 4, 2013 4:40 pm

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

IPMarketRecap Big Day for Best Buy, Facebook    Thursdays IP Market Report [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

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. disappointing initial jobless claims: http://investorplace.com/2013/04/jobs-growth-disappoints-for-march/
  3. BBY: http://studio-5.financialcontent.com/investplace/quote?Symbol=BBY
  4. SSNLF: http://studio-5.financialcontent.com/investplace/quote?Symbol=SSNLF
  5. FB: http://studio-5.financialcontent.com/investplace/quote?Symbol=FB
  6. an integrated app: http://investorplace.com/ipo-playbook/facebook-phone-is-dead-long-live-facebook-home/
  7. GOOG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GOOG
  8. LULU: http://studio-5.financialcontent.com/investplace/quote?Symbol=LULU
  9. see-through yoga pants: http://investorplace.com/2013/03/no-need-to-show-your-tush-for-yoga-pants-refund/
  10. CCL: http://studio-5.financialcontent.com/investplace/quote?Symbol=CCL
  11. broke free of its dock: http://investorplace.com/2013/04/carnival-cruise-ship-breaks-free/
  12. JOSB: http://studio-5.financialcontent.com/investplace/quote?Symbol=JOSB
  13. CRUS: http://studio-5.financialcontent.com/investplace/quote?Symbol=CRUS
  14. GDP: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDP
  15. TDC: http://studio-5.financialcontent.com/investplace/quote?Symbol=TDC
  16. ASTX: http://studio-5.financialcontent.com/investplace/quote?Symbol=ASTX
  17. ERF: http://studio-5.financialcontent.com/investplace/quote?Symbol=ERF

Source URL: http://investorplace.com/2013/04/thursdays-ip-market-report-bby-fb-lulu-ccl-josb/
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