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Mid-Morning Market Update: Markets Mostly Flat; Tiffany Lifts Profit Forecast
By Benzinga,  November 26, 2013, 11:06:06 AM EDT
Vote up
tiffany outlet locations
wholesale tiffany jewelry Following the market opening Tuesday, the Dow traded up 0.04
percent to 16,078.45 while the NASDAQ declined 0.06 percent to
3,992.13. The S&P also fell, dropping 0.02 percent to
cheap tiffany & co Top Headline Tiffany & Co (NYSE:
) reported a
50% surge
in its third-quarter profit and lifted its outlook. Tiffany's
quarterly profit gained to $94.6 million, or $0.73 per share,
versus a year-ago profit of $63.2 million, or $0.49 per share.
Its revenue climbed to $911.5 million from $852.7 million, while
same-store sales rose 7%. However, analysts were estimating
earnings of $0.58 per share on revenue of $888 million. Tiffany
lifted its full-year earnings forecast to $3.65 to $3.75 per
share, versus its earlier outlook of $3.50 to $3.60 per
cheap tiffany and co jewelry Equities Trading UP Jos. A Bank Clothiers (NASDAQ:
) shot up 11.82 percent to $56.58 after Men's Wearhouse (NYSE:
proposed to acquire
Jos. A. Bank for $55 per share in cash.
cheap tiffany & co Shares of Workday (NYSE:
) got a boost, shooting up 11.61 percent to $81.81 after the
company posted a narrower-than-expected third-quarter loss and
issued upbeat fourth-quarter revenue forecast.
Palo Alto Networks (NYSE:
) was also up, gaining 6.34 percent to $49.03 after the company
fiscal first-quarter results.
Equities Trading DOWN Shares of Nuance Communications (NASDAQ:
) were down 11.51 percent to $14.15 after the company
issued a downbeat
outlook. Wedbush downgraded the stock from Outperform to
) shares tumbled 6.54 percent to $44.13 after the company
reported weak Q3 revenue. 21Vianet Group (NASDAQ:
) was down, falling 7.72 percent to $16.98 after the company
reported its un-audited Q3 financial results. Pacific Crest
downgraded the stock from Outperform to Sector Perform.
Commodities In commodity news,
oil traded down 0.20 percent
to $93.90, while gold traded up 0.19 percent to $1,243.90. Silver
traded up 0.17 percent Tuesday to $19.96, while copper fell 0.36
percent to $3.22.
Eurozone European shares today. The Spanish Ibex Index rose
0.38 percent, while Italy's FTSE MIB Index gained 0.20 percent.
Meanwhile, the German DAX surged 0.04 percent and the French CAC
40 declined 0.31 percent while U.K. shares fell 0.45 percent.
Economics The ICSC-Goldman Sachs store sales index rose 2.6%
in the week ended Saturday versus the earlier week. The Johnson
Redbook Retail Sales Index declined 0.5% in the first three weeks
of November from October. US house prices rose 0.3% in September,
and gained 8.5% y/y, according to the Federal Housing Finance
Agency. The S&P/Case-Shiller home price index climbed 0.7% in
September and rose 13.3% y/y. US building permits rose 6.2% to an
annual rate of 1.03 million in October, versus a revised 974,000
in September. The Richmond Fed manufacturing index rose to 13.00
in November, from a prior reading of 1.00. However, economists
were expecting a reading of 4.00. The Conference Board's consumer
confidence index fell to 70.40 in November, versus a prior
reading of 71.20. However, economists were expecting reading of
72.60. The Treasury is set to auction 4-week bills and 5-year
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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