US stocks broadly unchanged after brighter outlook
Posted on: 10 Aug 2012 by Polly York

US stocks were largely unchanged on Thursday, with the outlook brightening somewhat after jobs and export data gave the economy a boost.

The Dow Jones crept lower, which both the S&P 500 and Nasdaq edged higher.

Jobless claims fell more than expected, registering a decline of 6,000 to 361,000 for the week ended August 4th. Analysts had been expecting a gain of around 370,000.

The US trade deficit was reduced from $48bn in May to $42.9bn in June, according the Commerce Department, its lowest level in a year and a half. The reduction came largely as a result of cheaper oil imports, although exports were at a record high of $185bn.

Joel Naroff of Naroff Economic Advisors said: ‘As long as we can keep selling more of our goods across the world, the economy can (grow) at a moderate pace.

‘In June, despite all the craziness in Europe and the slowdowns in Asia, our exports managed to increase.’

China also took centre stage with its inflation figures for July showing prices rose 1.8% compared to the same month last year. This is the lowest level for nearly three years and suggests the world’s second biggest economy might undertake further stimulus measures.

Companies

Dutch insurance company Aegon NV got a boost after its second quarter results came in better-than-expected.

Beauty products firm Elizabeth Arden rose despite its fourth quarter results revealed a 33% decline in profit after it experience costs relating to trasition expenses and the acquisition of a fragrance licence. Both sales and margins improved.

James River Coal was also higher following better-than-forecast second quarter results.

Meanwhile, solar power manufacturer SunPower dropped after its outlook on earnings worried its investors.

Media giant News Corp, the media empire under the control of Rupert Murdoch, was down after it suffered a quarterly loss after being hit with the costs of a write-down of its Australian publishing business.

Display maker Unipixel was also heading lower after its revealed a public offering of common shares at $5.25. The firm is sell almost 2.1m of the 3.1m shares it offered.

Boingo Wireless plunged 25% after second quarter earnings came in below expectations. The firm issued a forecast which also fell below analysts predictions.

Other markets

The September West Texas Intermediate crude futures contract rose by $0.01 to $93.36 a barrel in NYMEX trading.

10-year US treasuries fell by 1/32 dollars, with yields at 1.69%.

S&P 500 – Risers
Alpha Natural Res (ANR) $7.25 +15.08%
E*TRADE Financial Corp. (ETFC) $8.57 +6.86%
CONSOL Energy Inc. (CNX) $33.08 +6.37%
Peabody Energy Corp. (BTU) $23.01 +6.28%
PulteGroup Inc. (PHM) $12.67 +4.80%
Abercrombie & Fitch Co. (ANF) $32.20 +4.14%
Genworth Financial Inc. (GNW) $4.80 +4.12%
Sprint Nextel Corporation (S) $4.80 +4.12%
Interpublic Group of Companies Inc. (IPG) $10.78 +4.05%
Frontier Communications Co. (FTR) $4.71 +3.52%

S&P 500 – Fallers
Monster Beverage Corp (MNST) $61.19 -9.71%
Windstream Corp. (WIN) $9.31 -7.36%
Dean Foods Co. (DF) $16.71 -4.30%
Integrys Energy Group Inc. (TEG) $58.80 -3.84%
Best Buy Co. Inc. (BBY) $19.19 -3.37%
Sears Holdings Corp. (SHLD) $50.70 -3.21%
Denbury Resources Inc. (DNR) $15.71 -2.66%
NetApp Inc. (NTAP) $32.15 -2.53%
American Express Co. (AXP) $56.47 -2.49%
Dollar Tree Stores Inc. (DLTR) $51.66 -2.44%

Dow Jones I.A – Risers
Cisco Systems Inc. (CSCO) $17.71 +3.21%
Caterpillar Inc. (CAT) $88.40 +1.35%
Home Depot Inc. (HD) $53.15 +0.68%
Alcoa Inc. (AA) $8.86 +0.68%
Bank of America Corp. (BAC) $7.72 +0.65%
Microsoft Corp. (MSFT) $30.50 +0.56%
Merck & Co. Inc. (MRK) $44.28 +0.50%
E.I. du Pont de Nemours and Co. (DD) $50.54 +0.48%
Chevron Corp. (CVX) $112.63 +0.44%
Intel Corp. (INTC) $26.70 +0.38%

Dow Jones I.A – Fallers
American Express Co. (AXP) $56.47 -2.49%
Walt Disney Co. (DIS) $49.96 -1.05%
JP Morgan Chase & Co. (JPM) $36.92 -0.65%
Wal-Mart Stores Inc. (WMT) $73.85 -0.62%
United Technologies Corp. (UTX) $77.03 -0.58%
AT&T Inc. (T) $37.23 -0.53%
McDonald’s Corp. (MCD) $87.15 -0.43%
Boeing Co. (BA) $74.28 -0.43%
Coca-Cola Co. (KO) $79.24 -0.40%
International Business Machines Corp. (IBM) $198.42 -0.31%

Nasdaq 100 – Risers
Warner Chilcott Plc (WCRX) $17.38 +5.08%
Randgold Resources Ltd. Ads (GOLD) $98.20 +3.67%
Nvidia Corp. (NVDA) $14.71 +3.37%
Cisco Systems Inc. (CSCO) $17.71 +3.21%
Citrix Systems Inc. (CTXS) $75.55 +3.15%
Express Scripts Holding Co (ESRX) $62.52 +2.95%
Research in Motion Ltd. (RIMM) $7.80 +2.36%
F5 Networks Inc. (FFIV) $103.22 +2.10%
Electronic Arts Inc. (EA) $13.14 +1.55%
Viacom Inc. Class B (VIAB) $49.79 +1.41%

Nasdaq 100 – Fallers
Monster Beverage Corp (MNST) $61.19 -9.71%
Sears Holdings Corp. (SHLD) $50.70 -3.21%
Sirius Satellite Radio Inc. (SIRI) $2.40 -3.03%
NetApp Inc. (NTAP) $32.15 -2.53%
Nuance Communications Inc. (NUAN) $22.61 -2.46%
Dollar Tree Stores Inc. (DLTR) $51.66 -2.44%
Liberty Interactive Corp (LINTA) $18.86 -2.00%
O’Reilly Automotive Inc. (ORLY) $84.98 -1.98%
Virgin Media Inc. (VMED) $27.30 -1.80%
eBay Inc. (EBAY) $44.27 -1.49%

NR

Tags: aegon | aegon nv | centre stage | craziness | experience costs | media empire | naroff economic advisors | news corp | sunpower | trade deficit