24/7 Wall St. Closing Bell — March 12, 2013: Markets Just Barely Overcome Low Open (BBY, RSH, P, AAPL TJX, CVI, DMND, FCEL, URBN, BONT, COST, SSI, DOLE, COOL, PPHM, EXPR, TA, GLU, JCP, ZNGA)March 12, 2013 by Paul Ausick
The U.S. dollar index rose 0.02% today, now at 82.594. The GSCI commodity index is down fractionally at 648.72, with commodities prices mostly mixed again today. WTI crude oil closed up 0.5% today, at $92.54 a barrel, following the release of the EIA’s short-term energy outlook (more coverage here). Brent crude trades down 0.6% at $109.61 a barrel. Natural gas is down 0.3% today at about $3.64 per million BTUs. Gold settled up 0.9% today at $1,591.70 an ounce.
The unofficial closing bells put the DJIA up less than 2 points to 14,450.06 (0.01%), the NASDAQ fell more than 10 points (-0.32%) to 3,242.32, and the S&P 500 fell -0.24% or nearly 4 points to 1,552.48.
There were a several analyst upgrades and downgrades today, including Best Buy Co. Inc. (NYSE: BBY) raised to ‘buy’ at Goldman Sachs; RadioShack Inc. (NYSE: RSH) cut to ‘sell’ at Goldman Sachs; Pandora Media Inc. (NYSE: P) started as ‘outperform’ at Pac-Crest; Apple Inc. (NASDAQ: AAPL) maintained as ‘hold’ but price target cut to $420 at Jefferies; and The TJX Companies Inc. (NYSE: TJX) started as ‘overweight’ at Barclays.
Earnings reports since markets closed last night resulted in several price moves today, including these: CVR Energy Inc. (NYSE: CVI) is up 1.6% at $59.57; Diamond Foods Inc. (NASDAQ: DMND) is down 10.1% at $15.82; Fuel Cell Energy Inc. (NASDAQ: FCEL) is down 4.1% at $1.00; Urban Outfitters Inc. (NASDAQ: URBN) is up 0.8% at $41.81; Bon-Ton Stores Inc. (NASDAQ: BONT) is up 5.5% at $12.56; Costco Wholesale Corp. (NASDAQ: COST) is up 1.2% at $103.68 (more coverage here); and Stage Stores Inc. (NYSE: SSI) is down 0.8% at $26.62.
Before markets open tomorrow morning we are scheduled to hear from Dole Food Company Inc. (NYSE: DOLE), Majesco Entertainment Co. (NASDAQ: COOL), Peregrine Pharmaceuticals Inc. (NASDAQ: PPHM), Express Inc. (NYSE: EXPR), and TravelCenters of America LLC (NYSEMKT: TA).
Some standouts among heavily traded stocks today include:
Glu Mobile Inc. (NASDAQ: GLUU) is up 15.3% at $2.79. The mobile game developer launched its first real-money mobile gambling game in the U.K.
J.C. Penney Co. Inc. (NYSE: JCP) is up 4.3% at $15.69. The retailer denies the CEO is leaving and the shares rise. Go figure.
Zynga Inc. (NASDAQ: ZNGA) is down 4.8% at $3.74. The social game maker says it will offer real-money gambling games, but Glu Mobile beat it to the punch today.
Stay tuned for Wednesday. We have noted the following events on the schedule (all times Eastern):
- 7:30 a.m. – Mortgage Bankers Association purchase applications
- 8:30 a.m. – Retail sales
- 8:30 a.m. – Import and export prices
- 10:00 a.m. – Business inventories
- 10:30 a.m. – EIA weekly petroleum status report
- 1:00 p.m. – 10-year note auction
- 2:00 p.m. – Treasury budget