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Russell 2000 Shines on Slow Day
Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

Apple (NASDAQ:AAPL) dominated the news flow on Friday after The Financial Times reported that the iPhone-maker was in talks to buy headphones and streaming music company Beats Electronic for $3.2 billion.

However, despite media excitement over the possible deal, rivals of the supposed combination such as Pandora (NYSE:P), Harman International Industries (NYSE:HAR), and Skullcandy (NASDAQ:SKUL) rallied.

The reaction in Apple shares was negative, with shares sliding 0.4%.

In earnings news, shares of Polo Ralph Lauren (NYSE:RL) fell 2.1% to $148.81 today. It beat analysts' fiscal fourth-quarter earnings and revenue expectations, but its forward guidance disappointed.

On the flip side, shares of fellow apparel play The Gap (NYSE:GPS) rallied 3.3 to $40.52 after the company issued a strong April sales report and better-than-expected guidance.

Internet security company Symantec (NASDAQ:SYMC) also shined in earnings, rising 3.3% to $20.79 on its above-consensus fiscal fourth-quarter results.

The S&P 500 (INDEXCBOE:SPX) was up a mere 0.15% to 1878.48 today, but there were some positive signs under the hood.

The Nasdaq Composite (INDEXNASDAQ:.IXIC) rose 0.5% despite the decline in Apple, and the small-cap Russell 2000 (INDEXRUSSELL:RUT) was up an impressive 0.9%.

Housing stocks performed well today, while key momentum sectors social media and biotechnology each rose more than 1%.

That action, combined with the weakness in utilities, showed that investors were willing to stomach some risk over the weekend.

On the economics front, March wholesale inventories rose 1.1% month-over-month, which was well ahead of the +0.5% consensus. February's figure was revised to +0.7% from +0.5% as well.

Monday's Financial Outlook

Overseas over the weekend, we'll see China's April New Yuan Loans, New Zealand's April House Sales, Japan's March Trade Balance, Australia's April Business Confidence, Japan's April Economic Watchers Survey, and Swiss March Retail Sales.

Domestically, we'll receive the April US Treasury Budget Statement at 2:00 p.m. EDT Monday.

Charles Plosser, president of the Federal Reserve Bank of Philadelphia, will speak in Philadelphia at 12:00 p.m. EDT.

We'll also see a lot of earnings reports on Monday, but primarily from small companies. The only major name reporting is pharmaceutical service provider McKesson (NYSE:MCK).


Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
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No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Russell 2000 Shines on Slow Day
Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

Apple (NASDAQ:AAPL) dominated the news flow on Friday after The Financial Times reported that the iPhone-maker was in talks to buy headphones and streaming music company Beats Electronic for $3.2 billion.

However, despite media excitement over the possible deal, rivals of the supposed combination such as Pandora (NYSE:P), Harman International Industries (NYSE:HAR), and Skullcandy (NASDAQ:SKUL) rallied.

The reaction in Apple shares was negative, with shares sliding 0.4%.

In earnings news, shares of Polo Ralph Lauren (NYSE:RL) fell 2.1% to $148.81 today. It beat analysts' fiscal fourth-quarter earnings and revenue expectations, but its forward guidance disappointed.

On the flip side, shares of fellow apparel play The Gap (NYSE:GPS) rallied 3.3 to $40.52 after the company issued a strong April sales report and better-than-expected guidance.

Internet security company Symantec (NASDAQ:SYMC) also shined in earnings, rising 3.3% to $20.79 on its above-consensus fiscal fourth-quarter results.

The S&P 500 (INDEXCBOE:SPX) was up a mere 0.15% to 1878.48 today, but there were some positive signs under the hood.

The Nasdaq Composite (INDEXNASDAQ:.IXIC) rose 0.5% despite the decline in Apple, and the small-cap Russell 2000 (INDEXRUSSELL:RUT) was up an impressive 0.9%.

Housing stocks performed well today, while key momentum sectors social media and biotechnology each rose more than 1%.

That action, combined with the weakness in utilities, showed that investors were willing to stomach some risk over the weekend.

On the economics front, March wholesale inventories rose 1.1% month-over-month, which was well ahead of the +0.5% consensus. February's figure was revised to +0.7% from +0.5% as well.

Monday's Financial Outlook

Overseas over the weekend, we'll see China's April New Yuan Loans, New Zealand's April House Sales, Japan's March Trade Balance, Australia's April Business Confidence, Japan's April Economic Watchers Survey, and Swiss March Retail Sales.

Domestically, we'll receive the April US Treasury Budget Statement at 2:00 p.m. EDT Monday.

Charles Plosser, president of the Federal Reserve Bank of Philadelphia, will speak in Philadelphia at 12:00 p.m. EDT.

We'll also see a lot of earnings reports on Monday, but primarily from small companies. The only major name reporting is pharmaceutical service provider McKesson (NYSE:MCK).


Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Russell 2000 Shines on Slow Day
Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

Apple (NASDAQ:AAPL) dominated the news flow on Friday after The Financial Times reported that the iPhone-maker was in talks to buy headphones and streaming music company Beats Electronic for $3.2 billion.

However, despite media excitement over the possible deal, rivals of the supposed combination such as Pandora (NYSE:P), Harman International Industries (NYSE:HAR), and Skullcandy (NASDAQ:SKUL) rallied.

The reaction in Apple shares was negative, with shares sliding 0.4%.

In earnings news, shares of Polo Ralph Lauren (NYSE:RL) fell 2.1% to $148.81 today. It beat analysts' fiscal fourth-quarter earnings and revenue expectations, but its forward guidance disappointed.

On the flip side, shares of fellow apparel play The Gap (NYSE:GPS) rallied 3.3 to $40.52 after the company issued a strong April sales report and better-than-expected guidance.

Internet security company Symantec (NASDAQ:SYMC) also shined in earnings, rising 3.3% to $20.79 on its above-consensus fiscal fourth-quarter results.

The S&P 500 (INDEXCBOE:SPX) was up a mere 0.15% to 1878.48 today, but there were some positive signs under the hood.

The Nasdaq Composite (INDEXNASDAQ:.IXIC) rose 0.5% despite the decline in Apple, and the small-cap Russell 2000 (INDEXRUSSELL:RUT) was up an impressive 0.9%.

Housing stocks performed well today, while key momentum sectors social media and biotechnology each rose more than 1%.

That action, combined with the weakness in utilities, showed that investors were willing to stomach some risk over the weekend.

On the economics front, March wholesale inventories rose 1.1% month-over-month, which was well ahead of the +0.5% consensus. February's figure was revised to +0.7% from +0.5% as well.

Monday's Financial Outlook

Overseas over the weekend, we'll see China's April New Yuan Loans, New Zealand's April House Sales, Japan's March Trade Balance, Australia's April Business Confidence, Japan's April Economic Watchers Survey, and Swiss March Retail Sales.

Domestically, we'll receive the April US Treasury Budget Statement at 2:00 p.m. EDT Monday.

Charles Plosser, president of the Federal Reserve Bank of Philadelphia, will speak in Philadelphia at 12:00 p.m. EDT.

We'll also see a lot of earnings reports on Monday, but primarily from small companies. The only major name reporting is pharmaceutical service provider McKesson (NYSE:MCK).


Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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