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Consulting firm Accenture (ACN) will be reporting its fiscal fourth quarter earnings after the market close tomorrow, with analysts expecting to see the company report earnings of $0.63 per share, in-line with the same period last year.
The company has issued its guidance, and expects to see revenues in a range of $5.15 to $5.35 billion. For full year earnings, the company now expects earnings somewhere between $2.61 to $2.69, on the lower end of previous guidance.
The overall markets were up about 2% today, primarily because of a rise in capital goods spending. New durable goods orders excluding transportation rose 2% in August. Wall St. took this as a sign that businesses as a whole are not terribly concerned about a double dip recession.Continue reading Closing Bell: Market Rockets Higher (AMD, PBR, XOM)
Shares of athletic footwear and accessories giant Nike Inc. (NKE) are trading up nicely in after hours trading after the company posted better than expected results for its fiscal first quarter this afternoon following the market close.
Going into today's earnings report, analysts had been expecting to see the company post $1.01 per share, but Nike outpaced estimates with a reported $1.14 per share.
Continue reading Nike Posts Better-Than-Expected Q1 Earnings
The market went up and then down. By the end of the trading day, most of the indexes were in the red, but not by much. The two pieces of news that traders had to digest both came early in the day. The National Association of Realtors said existing home sales rose 7.6% to a seasonally adjusted rate of 4.13 million. Housing market progress is still painfully slow. Weekly jobless claims, a notoriously fickle number, rose 12,000 to 465,000. A better indication of the job market -- continuing claims -- fell 48,000 to 4.49 million. The figure is still staggeringly large and a sign the the joblessness problem remains firmly entrenched.Continue reading Marker Close: Another Listless Trading Day (BAC, NVDA, TXN, AMD, BIDU, YHOO)
The Federal Housing Financial Agency reported home prices reached their lowest point in nearly six years. For the twelve months ending in July, the drop was 3.3% compared to the same period a year earlier. The news set a negative tone, and the market was down all day. Continue reading The Closing Bell: Housing Kills the Rally (ADBE, MSFT, BRCD, IBM)
There was a blizzard of economic news today, but the only thing that really counted was the release of the notes from the The Federal Reserve Open Market Committee. The governors decided to keep rates near zero but do nothing beyond that to ease what is clearly a slowing economy. "Employers remain reluctant to add to payrolls. Housing starts are at a depressed level. Bank lending has continued to contract, but at a reduced rate in recent months." Continue reading Closing Bell: The Fed Is All That Counts (CAG, NOK, VVUS)
It really wasn't a very good news day for stocks, but the market was flat anyway. The University of Michigan consumer index hit a one year low, which was not expected. It dropped to 66.6 in September from 68.9 last month. Consensus estimates were for the number to be 70. Continue reading Closing Bell: Little Action on Less Care (RIMM, ORCL, JNJ, STU, C and ARNA)
Three pieces of information stood out today. The first is that one in seven people lived in poverty last year according the US Census. That is nearly 44 million people. The Census describes these people as members of four person families that make less than $22,000 a year. Continue reading Closing Bell: Housing and Prosperity Fade (FDX, F, ATVI, MSFT, RIMM, AAPL)
The market ignored intervention on behalf of Japan to drive down the value of the yen and an anemic improvement in August industrial output, which was only up .2%, to post a very modest gain for the day. Continue reading Closing Bell: The Market Advances Without Conviction (BA, YHOO)
Today was up most of the day but it felt choppy compared to yesterday's gains. A strong gas supply, a tick up in housing data, and a small decrease in weekly jobless claims all helped to offer a strong market for many sectors. Here were today's unofficial closing bell levels:
High end retailer Nordstrom Inc. (JWN) is trading sharply lower this afternoon after the company maintained its guidance for the full year 2010.
Nordstrom reported second quarter earnings of $0.66 per share, or $146 million, in line with analyst estimates for the quarter.
Continue reading Nordstrom Shares Sink on Full-Year Guidance
Shares of tech giant International Business Machines Corp. (IBM) are selling off in after hours trading today after the company posted lower than expected revenues for its second quarter.Total nonfarm payroll employment fell by 125,000 in June as the number of temporary census workers dropped by 225,000, according to the Labor Department. Most analysts expected the June unemployment numbers to be better. The market did sell of substantially until about 1 PM. That is about the time that traders who are still around begin to leave for the 4th or July holiday. The small band that was left bid the market back up to near even. Volume was so light, it was hard to detect a trend.Continue reading Closing Bell: Stocks Flat Going into the Holiday (GE, BAC, CSCO, INTC, AAPL)
Shares of tech giant Adobe Systems (ADBE) sold off in after-hours trading Tuesday following the company's second quarter earnings report, which showed record revenues for the company.Continue reading Adobe Trades Lower Despite Announcing Record Revenues
The National Association of Realtors reported that sales of existing homes fell 2.2% in May. A federal judge gave oil drillers in the Gulf a temporary stay of the Administration's six month moratorium on drilling in deep water. Oil stocks did not react to the legal news. It may be that the amount of crude that the big oil companies get from the Gulf is just too small. Continue reading Market Close: Housing Drives Market Down (AAPL)
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