In corporate news, Michael Kors (KORS) shares jumped nearly 17% after the apparel company posted stronger-than-anticipated quarterly profit and hiked its full-year profit projection.
Estee Lauder Companies (EL) was one of the biggest gainers on the S&P 500, surging more than 9% after the beauty products company beat quarterly profit estimates.
Dicks Sporting Goods (DKS) shares were shed 4% after the company posted quarterly revenue that was in line with estimates and earnings that declined to $53.7 million in the second quarter from $73.8 million a year ago. Adjusted earnings came in just a penny above the Wall Street target.
Shares of Google (GOOG) continued to gain ground following Monday's news of the company's agreement to acquire the Frommer's travel-guide business from John Wiley & Sons (JWB) for a reported $25 million. The stock gained 1.3%.Groupon (GRPN), the daily deals site, beat analysts' quarterly estimates on the bottom line but revenue came in light. The stock tanked 27%.
2012 Stock Predictions and Outlook
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